President Tinubu Defends Economic Reforms, Promises Stronger and More Prosperous Nigeria

President Bola Ahmed Tinubu has addressed Nigerians on the third anniversary of his administration, outlining the economic reforms, infrastructure projects, security efforts and social intervention programmes carried out since taking office in 2023.

In his nationwide broadcast, the President acknowledged the economic and structural challenges inherited by his administration, including fuel subsidy payments, exchange-rate distortions, rising debt-servicing costs, insecurity, energy shortages and declining public trust in institutions.
According to him, Nigeria was spending about ₦18.4 billion daily on petrol subsidies, amounting to more than ₦4 trillion in 2022, while multiple exchange-rate windows created major economic distortions and losses estimated at over ₦8 trillion within three years.
President Tinubu said his administration made difficult but necessary decisions to stabilise the economy and avert deeper fiscal and economic crises, stressing that leadership demanded courage during difficult periods.
He admitted that the reforms led to a high cost of living and placed pressure on citizens, businesses and workers, but assured Nigerians that the sacrifices were already beginning to produce positive outcomes.
The President stated that Nigeria’s economy had become more competitive and better positioned for sustainable growth, with stronger public finances and rising investor confidence. He noted that the stock market recorded remarkable growth, with the All Share Index rising from 53,000 in 2023 to 250,000 in 2026, while market capitalisation increased from ₦30 trillion to ₦160 trillion.
Tinubu also highlighted major infrastructure projects across the country, including the Lagos-Calabar Coastal Highway, Sokoto-Badagry Super Highway, Abuja-Kaduna-Zaria-Kano Road, East-West Road and several rural access roads. He said more than 2,700 kilometres of highways and major roads were currently under construction, reconstruction or rehabilitation.
On rail transportation, the President explained that modernisation projects were ongoing to improve connectivity, logistics and economic integration nationwide.
Speaking on the oil and gas sector, Tinubu disclosed that reforms introduced by his administration had attracted new investments from international oil companies, while the $5 billion NLNG Train 7 project was nearing completion to increase production capacity and exports.
He added that improvements in local refining capacity had strengthened Nigeria’s energy security, with large-scale and modular refineries reducing dependence on imported petroleum products and helping conserve foreign exchange.
Addressing the power sector, Tinubu said his administration was tackling longstanding issues of debt and underinvestment through transmission expansion, renewable energy investments and measures aimed at strengthening the national grid.
According to him, improving electricity supply remained critical to industrial growth, job creation and overall economic development.
The President further stated that agricultural intervention programmes had supported millions of farmers through improved seedlings, fertilisers, mechanisation, irrigation and enhanced access to financing and markets.
On education, Tinubu revealed that the Nigerian Education Loan Fund had enabled over 1.5 million students to access higher education, with more than ₦282 billion disbursed in student loans.
He also disclosed that the Renewed Hope Housing Programme and Federal Housing Authority projects were delivering more than 10,000 housing units across 14 states and the Federal Capital Territory, while generating over 300,000 jobs.
Tinubu noted that healthcare services were being strengthened through the revitalisation of primary healthcare centres and expanded health insurance coverage for vulnerable Nigerians.
The President also stated that the telecommunications sector was gradually recovering from years of operational challenges, with operators expanding networks, increasing investments and widening digital access across the country.
Addressing Nigerian youths, Tinubu described them as the driving force of the nation’s future and assured them that government was investing in digital skills, technical education, innovation, enterprise support and student financing.
On security, the President said security agencies and the Armed Forces had intensified operations against terrorists, kidnappers, oil thieves, bandits and other criminal elements. While acknowledging that security challenges still existed, he maintained that many communities and highways were becoming safer.
Tinubu reaffirmed his administration’s commitment to strengthening intelligence, surveillance, logistics and inter-agency collaboration to improve national security.
He said although the government had not solved every challenge confronting the country, the foundation for recovery had been laid, adding that efforts were ongoing to reduce food and transportation costs and create more opportunities for jobs and business growth.
The President urged Nigerians to remain united and hopeful, stressing that national renewal required collective sacrifice, resilience and commitment.
According to him, Nigeria’s diversity remained a source of strength, and every citizen, regardless of region, religion or background, must feel included and valued.
Tinubu called on citizens to reject division and cynicism while working together to build a secure, prosperous, inclusive and globally respected nation.
He expressed optimism about Nigeria’s future, saying the country would emerge stronger, more united and more prosperous despite current challenges.
The President concluded by encouraging Nigerians to continue believing in the promise of the nation and prayed for God’s blessings upon the Federal Republic of Nigeria.