By Maduabuchi Nmeribeh/Kano
A chieftain of the All Progressive Congress (APC) in Kano, Dr. Musa Illyasu Kwankwaso, has said that President Bola Ahmed Tinubu’s efforts to rebuild Nigeria’s ailing economy is one of the major reasons Nigerians will massively vote in his favour during the 2027 presidential election.
Kwankwaso, in a statement made available to journalists in Kano, on Sunday, insisted that Nigerians are not unaware of Tinubu’s giant strides in reviving the ailing economy and other facets of governance, insisting that President’s achievements will earn second term in office.
He recalled that Tinubu has cleared $7 billion loan backlog, putting Nigeria’s foreign reserves at $54.13 billion.
Kwankwaso, who is the Director of Finance, Hadejia Jammaare River Basin and a former two- term Commissioner in Kano state, further stated that: “Nigeria’s foreign reserves currently stands at $54.13 billion, while the administration of President Tinubu has cleared over $7 billion in foreign exchange and loan backlogs, alongside major domestic debt obligations.”
Kwankwaso further noted that President Tinubu’s administration paid an additional $3.5 billion COVID-19 loan.
According to him, President Tinubu’s administration cleared over N30 trillion Ways and Means Debt in the Central Bank of Nigeria (CBN), inherited from previous administration.
Musa Illiyasu Kwankwaso further stated that, “on Petroleum Import Debt, President Tinubu inherited over $6 billion in unpaid petroleum import bills, which the administration has worked to resolve.
“Talking about Debt Service Impact, the Ratio Drop with a total debt service-to-revenue ratio decreased from 97% down to between 64% and 68%, easing pressure on public finances.”
Musa Kwankwaso said that, “President Tinubu has not only concentrated on financial impact of the nation, but he has also recorded huge achievements on agriculture. Today food stuffs and other essential commodities have had their prices drastically crashed, given hopes to the common man.
“The criticism of the opposition cannot stopped President Tinubu from securing a landslide victory, because Nigerians are not blind to the realities of the efforts of improving their livelihoods by the Tinubu’s administration.
“We believe that the President has done marvelously well. That is why we are hundred percent loyal to his government, and we are assured that in the North for example, he will secure the largest votes”
