President Bola Ahmed Tinubu addressed Nigerians and members of the All Progressives Congress (APC) at the Eagles Square in Abuja on Friday night. The President's speech was a defining moment in the party's history, marking a significant chapter in Nigeria's democracy. Tinubu expressed gratitude to God Almighty for His grace upon the nation and the party.
The President highlighted the party's achievements since 2013, including notable strides in reducing inflation and easing food prices. Inflation has declined steadily for eight consecutive months to 14.45%, while food prices are easing, bringing gradual relief to households. Nigeria's Eurobond issuance was oversubscribed by 400%, and the country exited the FATF Grey List, marking a decisive return to global financial credibility.
However, Tinubu acknowledged the party's ongoing challenges, including legacy issues such as electricity supply, debts to GENCOs and gas suppliers, and antiquated transmission infrastructure. The President announced plans to address these issues by establishing the Grid Asset Management Company, which will inject approximately 1,600 megawatts into a new grid corridor.
President Tinubu's speech at the APC National Convention is a clear message to Nigerians and the world: the party is strong, united, and focused on national transformation. However, the President's emphasis on addressing legacy issues such as electricity supply and debts to GENCOs and gas suppliers is a stark reminder of the challenges that lie ahead. The establishment of the Grid Asset Management Company is a welcome step, but it remains to be seen whether this will be enough to address the country's energy crisis. As Tinubu himself noted, no nation rises by hiding from the truth, and it is imperative that the party and the government continue to tackle these issues head-on. The people of Nigeria deserve better, and it is time for action, not just words.
