Home » Ribadu: Nigeria Faces Financial Strain Post-Buhari Administration

Ribadu: Nigeria Faces Financial Strain Post-Buhari Administration

by Adenike Adeodun

Nigeria’s National Security Adviser, Mallam Nuhu Ribadu, recently revealed the country’s dire financial state. He announced that former President Muhammadu Buhari’s administration had left Nigeria bankrupt. This declaration serves as the current government’s first official statement regarding Buhari’s eight-year financial legacy.

At the Chief of Defence Intelligence Annual Conference, Ribadu stated that President Bola Tinubu’s new government inherited a financially depleted country. The conference’s theme, “Leveraging Defence Diplomacy and Regional Collaboration for Enhanced National Security,” resonated as Ribadu discussed Nigeria’s significant fiscal challenges.

Ribadu openly suggested that the previous administration severely drained the Treasury. “We have inherited a very difficult country, a bankrupt country, to the extent that we are paying back what was taken. It is serious,” he explained.

Despite these challenges, Ribadu commended the Nigerian Armed Forces for their crucial role in maintaining national peace. He recognized the security forces and service chiefs for their sacrifices and efforts despite budgetary limitations.

According to a report by This Day Live, Ribadu also noted a substantial improvement in Nigeria’s security situation. He compared the current state with the past, highlighting a decrease in violent deaths from 1,200 to fewer than 100. He attributed this improvement to effective but quiet actions.

He specifically mentioned Borno State, which was previously a battleground for insurgents. Since the new administration took over, Ribadu has reported no deaths in Borno State. This Day Live cites his announcement about successfully rescuing 600 kidnapping victims held captive for two years.

Economically, Ribadu offered a glimmer of hope amid the financial crisis. He reported an increase in crude oil production to 1.7 million barrels per day, up from 900,000 barrels last year.

Maj Gen EAP Undiandeye, Chief of Defence Intelligence, also addressed the conference. He stressed the importance of preparing defence attachés to identify and respond to current and future threats.

Ribadu’s disclosures illustrate a nation working hard to surmount financial and security hurdles. The current administration is tasked with steering the country through these challenges while revitalizing the economy and maintaining peace and stability.

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