"We Have Saved Nigeria from Bankruptcy": President Tinubu Declares Economic Turning Point at State House Interfaith Dinner

Bola Ahmed Tinubu (GCFR)

​In a powerful address reflecting on his administration's journey so far, President Bola Ahmed Tinubu has declared that his government has successfully steered the nation away from the brink of financial collapse. Speaking on Monday evening, March 9, 2026, while hosting religious and traditional leaders for an interfaith breaking of the fast (Iftar) at the Presidential Villa (State House) in Abuja, the President expressed profound gratitude for the opportunity to serve, promising continued faithfulness in his duties to the Nigerian people. 

​From the Brink of Collapse to Stability

​President Tinubu did not mince words when describing the state of the nation upon his assumption of office. Characterizing the initial period as "daunting and challenging," he revealed the gravity of the situation the administration inherited.

​"I can report that the economy has turned the corner," the President stated. "We have saved Nigeria from bankruptcy." This shift from a state of emergency to one of emerging stability is, according to the President, already yielding tangible results for the most vulnerable citizens. He noted that pensioners are beginning to receive gradual relief, signaling a departure from the days of chronic stagnation and financial despair.

​Empowering the States

​One of the most significant indicators of this economic turnaround, as highlighted by the President, is the improved financial health of state governments. In a pointed observation regarding fiscal autonomy and responsibility, he noted a marked change in how states manage their obligations.

​"No governor in this country, in any of your states, is now running around the banks to borrow money to pay the salary of their workers," Tinubu remarked. This shift suggests that the federal government's macro-economic reforms are trickling down, providing states with the necessary liquidity to meet their primary responsibilities without resorting to predatory high-interest loans.

​Security: "Nigeria Will Never Surrender"

​While the economic outlook is brightening, the President acknowledged the persistent "barrage" of security challenges facing the country. He described the current desperation of terrorists as a reaction to being defeated on various fronts. Though these groups continue to "leave trails of blood in their wake," the President’s message was one of unwavering resolve.

​"Nigeria will never surrender. We are not discouraged. We are going to win and win well," he assured. The President framed the fight against terrorism not just as a military engagement, but as a test of national will—a test he insists Nigeria is destined to pass.

​Despite the lingering shadows of insecurity, the overarching tone of the President’s message was one of pride and joy in the nation's survival. He emphasized that the worst of the economic crisis is in the past and that the path forward, while still requiring hard work, is now clearly defined. As the administration continues to discharge its duties, the President’s declaration serves as both a report card of the past months and a promise for the future: a Nigeria that is solvent, secure, and progressively better for all.