President Bola Ahmed Tinubu announced that his administration has cleared a ₦30 trillion “ways and means” loan from the Central Bank of Nigeria.
He made this disclosure during a nationwide broadcast as part of the 64th Independence Day celebrations.
The President highlighted that in the past 16 months, his government has made significant strides in reforming and repositioning Nigeria’s economy. He emphasized that, under his leadership, the country has successfully reduced its debt service ratio from 97% to 68%.
Addressing the need for continued fiscal reforms, Tinubu warned of the consequences if fiscal misalignments are not corrected, noting that the economy is being retooled for sustainability and better performance in the future.
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