2023 NBA-AGC: Tinubu Advocates Economic Reforms For Nigeria’s Future Transformation, Highlights Need For World-Class Judicial Remuneration

President Bola Tinubu has taken a strong stance against the prevailing economic model in Nigeria that allocates a substantial 90% of the nation’s limited revenue to servicing external debts.

Addressing the audience at the Annual Conference of the Nigerian Bar Association (NBA) in Abuja, President Tinubu underscored the need for immediate reforms to redirect resources towards development.

Speaking before an audience of 16,190 lawyers, President Tinubu opened the conference held at the Chief MKO Abiola Stadium’s Velodrome. He ignited the gathering with an impromptu speech that called for the eradication of poverty and the active cooperation of Nigeria’s private sector leaders.

“Can we continue dedicating 90% of our revenue to servicing external debts? This path is destructive and unsustainable. We must courageously embrace the necessary changes to elevate our nation from its current state and earn respect on the global stage,” President Tinubu emphasized.

While centering his address on the conference theme, “Getting it Right: Charting the Course for Nigeria’s Nation-Building,” President Tinubu acknowledged the challenges inherent in meaningful reforms. He affirmed the significance of making challenging decisions to set Nigeria on a trajectory of growth and progress.

President Tinubu’s commitment to reform extended to the judiciary, drawing from his success in judicial reforms during his tenure as Lagos State Governor. He vowed to address the issue of renumeration for judicial officers and legal practitioners, citing the pivotal role world-class salaries and benefits play in achieving comprehensive justice reform.

In a passionate call to action, President Tinubu urged the audience to cultivate a mindset of change and determination, emphasizing the necessity of looking forward to secure a brighter future for Nigeria.

Referring to the keynote address by Mr. Tony Elumelu, Chairman of UBA Plc and Heirs Holdings, President Tinubu lamented Nigeria’s failure to eliminate poverty and address electricity shortages despite possessing abundant gas resources. He pledged to prioritize the generation and distribution of electricity, asserting that consistent power supply is crucial to lifting many out of poverty.

President Tinubu concluded his address by stating that it is unacceptable for a nation as resource-rich as Nigeria to lack sufficient electricity for its homes and industries. He resolved to banish poverty through enhanced access to uninterrupted electricity.

NBA President Yakubu Maikyau, SAN, extended the association’s confidence in President Tinubu’s governance capabilities, citing his exceptional track record as the former Governor of Lagos State. The conference drew notable figures, including the Attorney General of the Federation, Prince Lateef Fagbemi; Chief of Staff to the President, Femi Gbajabiamila; Minister of Federal Capital Territory, Nyesom Wike; Minister of Sports, Senator John Enoh; former Secretary to the Government of the Federation, Boss Mustapha, as well as past NBA Presidents and several senior government officials.