President Bola Ahmed Tinubu has said his administration inherited serious liabilities from his predecessors, lamenting that Nigeria has serious deficits in port and power infrastructure, as well as agro-allied facilities.

The President, who said he would not make any excuses, however noted his government also inherited assets.

Tinubu who spoke on Monday night in Mecca, Saudi Arabia, lamented that Nigeria has serious deficits in port and power infrastructure, as well as agro-allied facilities.

But the Nigerian leader says he would not make any excuses, according to a Tuesday statement from his spokesman Ajuri Ngelale.

“We inherited serious liabilities, but also assets from our predecessors. We do not make any excuses,” Tinubu was quoted as saying.

“There are several sectors replete with investment opportunities for smart investors. Access to finance and guarantees can be a hindrance in some cases. You can come in there. We see you as a critical enabler.

“You have partnered with us before. We want to scale it up now and do much more with greater ambition and clearer vision.”

At the meeting, President Tinubu also negotiated a multi-billion dollar infrastructure finance facility from the IDB to fund infrastructure projects at the federal and state levels in Nigeria.

“Nigeria is the candle of hope that will light the way for Africa. And once Africa is illuminated, the world will be a brighter place for all of humanity.

“We are determined to create a future for our gifted youths. Investments in Nigeria will be among the world’s most high-yielding. Investor money will flow easily in and out of our country. Processes will be seamless. And your bank has always been a faithful partner in progress,” he added.