Tinubu marks three years in office, says reforms stabilised Nigeria’s economy

Politics

ABUJA (NPA) — President Bola Ahmed Tinubu has declared that Nigeria is “moving forward again” after three years of sweeping economic reforms, saying the sacrifices made by citizens since 2023 have begun to yield visible progress.

In a nationwide address marking the third anniversary of his administration, Tinubu reflected on the tough decisions taken to end fuel subsidies, unify exchange rates, and restore fiscal stability, describing them as “difficult but necessary choices” that prevented a deeper national crisis.

“Had we refused to act, our nation would have drifted toward fiscal breakdown, worsening poverty, and severe economic uncertainty. Together, we chose reform over ruin and decisiveness over hesitation,” he said.

The President acknowledged the hardship Nigerians faced due to rising living costs but assured that the reforms were laying the foundation for sustainable growth.

“Your sacrifice has not been in vain. Nigeria has stabilised and is moving forward again,” he said.

Tinubu highlighted major gains in public finance and investor confidence, noting that the stock market had surged from ₦30 trillion in 2023 to ₦160 trillion in 2026, with companies reporting record profits. He listed ongoing infrastructure projects covering 2,700 kilometres of highways, including the Lagos-Calabar Coastal Highway, Sokoto-Badagry Super Highway, and Abuja-Kaduna-Zaria-Kano Road, alongside rail modernisation and rural access roads.

In the oil and gas sector, he said reforms had attracted billions in new investment, with the $5 billion NLNG Train 7 project nearing completion. Local refining capacity and domestic gas utilisation, he added, were improving energy security and reducing dependence on imports.

Tinubu said his administration was clearing legacy debts in the power sector, expanding transmission infrastructure, and investing in renewables to “power Nigeria into a new era of industrial growth.”

“No modern economy can grow in darkness. When power improves, businesses expand, industries grow, jobs are created, and families prosper,” he stated.

He reported that agricultural programmes had supported millions of farmers through improved seedlings, fertilisers, and mechanisation. The Nigerian Education Loan Fund had disbursed ₦282 billion to over 1.5 million students, while the Renewed Hope Housing Programme was delivering 10,000 housing units across 14 states and the FCT, creating 300,000 jobs. Tinubu also cited progress in healthcare revitalisation and the expansion of health insurance coverage for vulnerable Nigerians.

The President reaffirmed his commitment to youth development, saying Nigeria’s young population was “the engine of the nation’s future.”

“You are not a problem to be managed. You are the engine of Nigeria’s future,” he said, pledging continued investment in digital skills, innovation, and enterprise support.

He noted renewed confidence in the telecommunications sector, with operators expanding networks and digital access nationwide.

Tinubu said security agencies had intensified operations against terrorists, bandits, and kidnappers, improving safety in many communities. He promised continued investment in intelligence, logistics, and technology to reclaim the authority of the state.

“This government will not relent until every Nigerian can live, work, travel, and dream in safety,” he vowed.

Tinubu urged Nigerians to remain united and hopeful, stressing that national renewal required discipline, sacrifice, and shared purpose.

“We must choose hope over despair, unity over division, and nation-building over narrow interests,” he said. “Nigeria belongs to all of us—no region, faith, or group should feel marginalised or forgotten.”

He concluded with optimism about the country’s future, saying Nigeria was “passing through a test” but would emerge stronger and more prosperous.

“Let us continue this journey together. Let us build a Nigeria that is secure, prosperous, inclusive, and respected worldwide,” Tinubu said.