Nigeria's President Bola Ahmed Tinubu is current chair of the West African bloc ECOWAS
AFP

President Bola Tinubu told Afenifere leaders on Wednesday that his government was focused on ensuring that the country was economically secure, stressing that he wanted to deal with basic problems and make a fair system where everyone in Nigeria can succeed.

The president received Yoruba Socio-Cultural Organization's Afenifere leaders at the State House in Abuja and explained to them how his administration was re-engineering Nigeria's economic condition to boost Nigerians' purchasing power and spread prosperity.

"We are committed to the economic survival of our country. To re-engineer the finances of our country, we must start in earnest. So first, retool, revamp the economic opportunities available, and resolve to continue taking the firm and steady baby steps that are necessary," he said, as per the State House's official website.

The president pointed out that "education is a strong weapon against poverty" and to make sure that people were empowered in the country, the administration needed to invest in the youth's future.

He acknowledged that parents face problems in schooling their kids. Hence, the government established the National Student Loan Program, emphasizing that the initiative was doing well for the students.

Tinubu also noted that the high degree of unemployment was another big issue in the country and his administration was working on helping vulnerable people by providing social security.

"We are looking at how to provide allowances for the unemployed, and we are developing ways to boost the purchasing power of citizens with the Consumer Credit Scheme. If we remove the cash upfront element to buy a car or a house, we will reduce the propensity for fraud and corruption across the land," he said.

Considering the security of the country, the president threatened those forces that create insecurity in Nigeria, warning that they would be paying a heavy price.

He added, "Constitutional democracy is reflected greatly here since we assumed office. What we face now is the challenge of terrorism. Security of life and property is very necessary for development. I can tell you we are achieving success."

The president noted that his government has "degraded terrorism to a level that they cannot threaten the sovereignty of Nigeria any longer," adding that "banditry and kidnapping will be defeated."

National Security Adviser (NSA) Nuhu Ribadu earlier this week welcomed 22 students and staff members, who were kidnapped in September from Zamfara's Federal University Gusau.

Tinubu announced last month that the federal government won't pay any ransom to release kidnapped people.