Third Year Anniversary: Tinubu Assures Nigerians of Better Future Amid Economic Reforms
President Bola Ahmed Tinubu has defended the economic reforms introduced by his administration, saying the policies have stabilised Nigeria’s economy and laid the foundation for long-term national recovery.
In a nationwide address to mark the third anniversary of his administration on Friday, Bola Ahmed Tinubu acknowledged the hardship caused by the removal of fuel subsidy and exchange rate reforms but insisted that the difficult decisions were necessary to prevent fiscal collapse.
Tinubu said Nigeria was spending as much as ₦18.4 billion daily on petrol subsidies before his administration took office, while multiple exchange rate windows led to massive economic distortions and losses estimated at over ₦8 trillion in three years.
“The situation demanded urgent and courageous action,” the President said, adding that his government chose “reform over ruin and decisiveness over hesitation.”
He admitted that rising living costs placed heavy pressure on Nigerians, especially families, workers, businesses, and young job seekers, but assured citizens that their sacrifices “have not been in vain.”
According to the President, the economy is now more competitive and positioned for sustainable growth, with improved public finances, increased investor confidence, and significant growth in the stock market.
Tinubu stated that the Nigerian stock market’s All Share Index rose from 53,000 in 2023 to 250,000 in 2026, while market capitalisation increased from ₦30 trillion to ₦160 trillion.
The President also highlighted ongoing infrastructure projects across the country, including the Lagos-Calabar Coastal Highway, Sokoto-Badagry Super Highway, Abuja-Kaduna-Zaria-Kano Road, and East-West Road, noting that over 2,700 kilometres of highways and major roads are under construction, reconstruction, or rehabilitation.
He said reforms in the oil and gas sector had attracted billions of dollars in fresh investments, while domestic refining capacity and gas utilisation were improving Nigeria’s energy security and reducing dependence on imported petroleum products.
On power supply, Tinubu said his administration was addressing long-standing challenges in the sector through investments in transmission infrastructure, renewable energy, and national grid expansion.
The President further disclosed that the Nigerian Education Loan Fund had provided more than 1.5 million students access to higher education through disbursements exceeding ₦282 billion.
He added that the Renewed Hope Housing Programme and projects by the Federal Housing Authority were delivering over 10,000 housing units across 14 states and the FCT, while creating more than 300,000 jobs.
Tinubu also said the government was revitalising thousands of primary healthcare centres and expanding health insurance coverage for vulnerable Nigerians.
On security, the President said security agencies had intensified operations against terrorists, kidnappers, bandits, and oil thieves, stressing that the government would continue investing in intelligence, surveillance, logistics, and technology to restore peace across the country.
While acknowledging that many challenges remain, Tinubu maintained that visible progress was being made in infrastructure, agriculture, technology, energy, and industrial development.
He called on Nigerians to remain hopeful and united, saying national renewal requires collective sacrifice, discipline, and resilience.
“Let us reject cynicism and division. Let us move forward together, united in purpose, disciplined in effort, compassionate toward one another, and confident in the greatness that lies ahead,” the President said.
