Tinubu: My Bold Reforms Saved Nigeria from Economic Collapse, Nation Now on a Clear Path to Growth
President Bola Ahmed Tinubu, in a nationwide broadcast marking the second anniversary of his administration, reaffirmed his commitment to economic reform, national security, and inclusive development. Speaking on Democracy Day, the president praised Nigerians for their resilience and pledged that the sacrifices made in the face of tough reforms are beginning to yield results.
Tinubu said the economic condition he inherited was dire and demanded urgent intervention. “Fuel subsidies and multiple exchange rates were no longer sustainable—they were choking the future of our country,” he stated.
He defended his administration’s bold decisions, including subsidy removal, unification of exchange rates, and tax reforms, saying these moves were necessary to prevent economic collapse. He cited progress in stabilising the economy, reducing inflation, and increasing oil and gas investment.
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According to the president, inflation is beginning to ease, food prices are dropping, and Nigeria’s foreign reserves have grown from $4 billion in 2023 to over $23 billion by the end of 2024. He added that fiscal deficit had fallen from 5.4% of GDP to 3.0%, and tax revenue has grown significantly.
On national security, Tinubu praised security forces for their sacrifice and pointed to successes in reclaiming territories once controlled by bandits. He said the safety of Nigerians remains a top priority.
The president also highlighted reforms in healthcare, with over 6,500 primary health centres being revitalised and cancer centres and dialysis services being expanded. He noted that maternal health initiatives have helped thousands of women access free cesarean sections, while health insurance coverage has grown by 4 million enrollees.
Youth empowerment, education, and innovation were also spotlighted. Tinubu said agencies like NASENI are pioneering tech-driven solutions, supporting electric vehicle assembly, and training female drone engineers. Tax reforms, he said, aim to boost the digital economy and protect low-income households.
Agriculture, infrastructure, and energy sectors are also seeing progress. The president cited large-scale investment in tractors and farming equipment, major road projects across the country, and renewed investments in solar energy and off-grid power systems.
Tinubu ended his address with a call for unity and optimism, saying the worst is behind Nigeria and that the future holds promise. “Together, we will build a stronger, more inclusive nation. The journey is not over, but our direction is clear,” he concluded.
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