Many states across Nigeria were spared the brink of bankruptcy through decisive economic reforms introduced by President Bola Ahmed Tinubu, Nasarawa State Governor Abdullahi Sule has said.
Governor Sule explained that the improved revenue accruing to states from the Federation Account, following key policy decisions of the Tinubu administration, has significantly eased fiscal pressures on subnational governments. He praised the president for having the courage to remove the fuel subsidy and unify the foreign exchange rates, describing these steps as tough but necessary choices that many global leaders have been reluctant to take.
According to the governor, these reforms have strengthened federal revenue-generating agencies and blocked long-standing financial leakages, leading to better inflows for states. He noted that several states are now grappling with the consequences of foreign-denominated loans obtained when the exchange rate was around N350 to the dollar, loans that have become far more burdensome with the naira trading above N1,000 to the dollar.
Drawing from his private sector experience, Sule emphasized the dangers of excessive borrowing, particularly when tied to foreign exchange. He said Nasarawa State deliberately avoided such loans at the time, a decision that has helped the state remain financially stable today. He added that the increased revenues flowing to states under the current administration have been instrumental in preventing many others from sliding into bankruptcy.
The governor also commended the Federal Radio Corporation of Nigeria for its role in promoting peace and unity within the state. He acknowledged the collective efforts of the people of Nasarawa, traditional rulers, security agencies, and media organisations in sustaining the prevailing atmosphere of tranquility.
Speaking during the visit, Askira, a lawyer and former General Manager of Precious FM Lafia between 2008 and 2010, said his engagement was aimed at familiarising himself with the current administration and appreciating the governor’s support. He expressed admiration for the scale of transformation across the state, noting that infrastructural developments from Karu through Keffi to Akwanga had significantly altered the landscape.
Askira particularly praised the Mararaba flyover project and the maintenance of peace and security in Nasarawa State, describing Governor Sule as a leader of exceptional quality.
