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President Bola Tinubu has disclosed that his administration inherited serious liabilities from Muhammadu Buhari’s government.
In a statement on Tuesday by his spokesman, Ajuri Ngelale, President Tinubu made this known on Monday night in Mecca, Saudi Arabia.
The President lamented that Nigeria has serious deficits in port, power infrastructure and agro-allied facilities, saying that his administration would ensure that all the shortcomings are addressed.
President Tinubu said even though his government also inherited assets from his predecessors, he would not make any excuses.
He said: “We inherited serious liabilities, but also assets from our predecessors. We do not make any excuses.
“There are several sectors replete with investment opportunities for smart investors. Access to finance and guarantees can be a hindrance in some cases. You can come in there. We see you as a critical enabler.
“You have partnered with us before. We want to scale it up now and do much more with greater ambition and clearer vision.”
Tinubu Secures Muti-Billion Dollar Funding Package For Infrastructure
The statement also disclosed that President Tinubu advanced negotiations concerning a multi-billion dollar infrastructure finance facility from the Islamic Development Bank to fund a multi-sectoral portfolio of infrastructure projects at Nigeria’s federal and sub-national levels.
The development resulted from substantive investment discussions held between President Tinubu and the Vice-President (Country Programs) of the Islamic Development Bank, Dr. Mansur Muhtar, after the President’s return from evening prayers.
“Nigeria is the candle of hope that will light the way for Africa. And once Africa is illuminated, the world will be a brighter place for all of humanity.
“We are determined to create a future for our gifted youths. Investments in Nigeria will be among the world’s most high-yielding. Investor money will flow easily in and out of our country. Processes will be seamless. And your bank has always been a faithful partner in progress,” the statement added.
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