I’m drawing water from a dry well yet Nigeria is moving forward, says Tinubu

President Bola Tinubu says Nigeria is “moving forward” despite his “drawing water from a dry well”.

Tinubu spoke on Monday during his first presidential media chat since assuming office on May 29, 2023.

The president demanded a “credit” for “managing” the country’s debt profile.

Tinubu said, “Nigeria is on the path of recovery,” but noted that “we cannot finish the job in one calendar year”.

“About borrowing, today from 98 percent of debt service, I brought it down to 68 percent—or thereabouts. Give credit,” he said.

“We are managing it. We have exited what used to be the problem of ways and means.

“More money is going down for development, and more revenue generated is being distributed. We have autonomy for local government.

“Those of you will remember my argument and lamentation with Obasanjo about the need for grassroots development when I created 37 local government development areas in Lagos. Go there now and you will see development.

“I am drawing water from a dry well, and Nigeria is moving forward.

“Regardless of critics, this is a project of restoration and hope. And that Nigeria is on the path of recovery.”

Tinubu added that he is not “trying to make an excuse for himself,” noting that his administration has only been around for 18 months.