When President Bola Tinubu’s administration took office a few months ago, they inherited an empty treasury, as National Security Adviser (NSA) Nuhu Ribadu explained at the Chief of Defense Intelligence Annual Conference 2023 in Abuja.
Ribadu said the federal government is committed to ensuring robust and effective defense management and mechanisms, despite the severe financial restrictions affecting budgetary allocations.
To quote him:
The budget is tight; that much is true. I can tell you this is fine. Okay, you should know that we inherited a tough situation—a bankrupt country with no money—to the point where we can honestly say that with every dollar we’re making now, we’re paying back every dollar that was stolen from us. It’s a major deal!”
“But this administration is doing its best to meet our requirements, particularly the armed forces, and I believe you leaders will be able to testify to that.”