- President Bola Tinubu confirmed his administration has not relied on NNPC funds for three months while meeting all government obligations
- Tinubu emphasized a focus on naira-based transactions, stating his government operates without spending in foreign currencies like the dollar
President Bola Ahmed Tinubu has revealed that his administration has not depended on funds from the Nigerian National Petroleum Company Limited (NNPCL) for three months.
Despite this, he confirmed that all government obligations have been successfully met.
Tinubu made this statement during his first presidential media chat, broadcast on Monday by NTA.
Addressing concerns about the naira’s depreciation, the president clarified that his government operates without spending in foreign currencies, like the dollar. Instead, he emphasized a focus on naira-based transactions.
He explained, “I don’t spend in dollars. I only associate with it due to global transactions. For naira, we are fine, even though this administration’s targets are linked to earnings in dollars converted to naira.”
The president highlighted the need for increased investments to drive national growth. He proudly stated, “In the last three months, I have not taken a penny from NNPC.
Despite this, I have met all obligations without reverting to old systems or using unconventional funding methods. That is commendable.”