ABUJA, Nigeria — President Bola Tinubu has called on the media to turn its spotlight on state and local governments, arguing that his administration’s reforms have granted subnational authorities unprecedented financial independence.
Speaking to a gathering of media proprietors and executives at the Aso Rock Presidential Villa on Friday, Mr Tinubu defended his economic record while insisting that the responsibility for Nigeria’s development is now more widely shared.
“We’ve opened up the principle of federalism to the extent that local governments are now getting their money,” the President said. “But how they use it is in your hands, so don’t bombard me alone.”
A Shift in Power
The President’s comments follow a landmark Supreme Court ruling in July 2024 that granted fiscal autonomy to Nigeria’s 774 local government councils. Historically, these councils relied on state governors to distribute federal funds—a system critics argued led to widespread misappropriation.
Mr. Tinubu noted that the financial position of Nigeria’s 36 states has also improved significantly due to higher crude oil production and more efficient tax collection.
“Today, there is no state that is borrowing to pay the salaries of employees,” he claimed, contrasting the current situation with previous years when many states required federal bailouts to stay afloat.
Defending the ‘Brink of Bankruptcy’
The meeting also saw the President reflect on his controversial decision to scrap the country’s decades-old petrol subsidy shortly after taking office in May 2023. The move triggered a spike in inflation and widespread hardship, but Mr. Tinubu maintained it saved the nation from ruin.
“Nigeria was cheating on the edge of bankruptcy,” he told the executives. “I cannot look back other than make corrections as I move along, save the nation, and bring it back from the brink.”
Despite the “barrage of negative comments” his policies have drawn, the President described himself as an “addict” of the daily news, claiming he reads all major newspapers every morning. He dismissed the idea that his critics were enemies, describing them instead as “simulators” who challenge him to perform better.
Support for a Struggling Industry
Recognising the economic challenges facing the media industry itself—including high tariffs and the rising cost of newsprint—the President hinted at potential government intervention. He disclosed that industry tariffs had been discussed earlier on Friday and promised to “rectify” any missed opportunities to support the sector.
“I accept the asset and liability of my policies because I asked for the job,” Mr. Tinubu concluded. “We all want good for this country. There is no doubt about that.”
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