I will reform financial system, ensure transparency – Tinubu

President Bola Tinubu has said he is working to reform the nation’s financial system and also ensure a transparent budgetary process.

The President stated this in Lagos on Thursday when he was hosted by Governor Babajide Sanwo-Olu, at the Lagos House, Marina.

Tinubu lauded members of the Governance Advisory Council, saying, “You all can see now that it pays to persevere.

“Thank you for spreading the understanding to our Nigerian people that we need to take the steps to stop the bleeding of our finances through speedy action of fuel subsidy removal. We have no choice.

“From there, we must re-engineer the effectiveness of control and management of our resources in order to meet the obligation owed to Nigerians by politicians,” he said.

He declared that “We have to re-engineer the financial system of the country and see that our economic planning and budgetary process is transparent enough to cater for all Nigerians.”

Speaking on fuel subsidy, he revealed that he had to remove the fuel subsidy in order to stop the bleeding in the nation’s finances.

He added that Nigeria “can’t afford to be Father Christmas to other countries. We can’t just afford to continue paying the subsidy.”

Tinubu vowed that he would operate an open-door policy and work together with the state governors to achieve true federalism in the nation, appealing that “I want us to partner together to rescue our nation and make it whole again.”

At the event were former governors Babatunde Fashola and Akinwunmi Ambode, among other stalwarts of the ruling All Progressives Congress.