Tinubu Marks Third Anniversary With Defence Of Economic Reforms

PRESIDENT Bola Tinubu has reaffirmed his administration’s commitment to economic reform, insisting that the difficult policies introduced since 2023 were necessary to prevent Nigeria from sliding into fiscal and economic collapse.

Speaking during a nationwide broadcast to commemorate the third anniversary of his administration, the President said his government chose “reform over ruin” despite the immediate hardship experienced by Nigerians.

Subsidy Removal And Forex Reforms Explained

Tinubu defended the removal of fuel subsidy and the unification of the foreign exchange market, arguing that the previous system had become financially unsustainable.

According to the President, Nigeria was spending billions of naira daily on petrol subsidies, while forex distortions encouraged speculation and weakened the economy.

He stated that the government had to act decisively to avoid worsening debt pressures, declining investor confidence and long-term economic uncertainty.

“The easy choices would have been politically convenient, but leadership demands courage,” he stated.

Relief Measures Planned For Nigerians

While acknowledging the rising cost of living experienced after the reforms, Tinubu assured Nigerians that the government was now focusing on policies that would ease economic hardship.

He said food prices had begun to stabilise and promised further interventions to reduce inflation and improve affordability.

The President also projected lower transport fares as more transport operators adopt compressed natural gas and electric vehicles under the government’s energy transition initiatives.

According to him, the administration remains committed to improving the welfare of citizens through targeted interventions in agriculture, transportation and social development.

Infrastructure And Investment Drive

Tinubu highlighted several infrastructure projects currently ongoing across the federation, describing them as critical to economic growth and national integration.

He listed the Lagos-Calabar Coastal Highway, Abuja-Kaduna-Zaria-Kano Road, East-West Road and Sokoto-Badagry Super Highway among major projects receiving attention.

He also disclosed that rail modernisation projects were progressing to improve logistics and connectivity across the country.

In the oil and gas sector, the President said reforms had attracted fresh investments from international oil companies, while domestic refining capacity was improving through large-scale and modular refineries.

Education, Housing And Digital Economy

The President further outlined progress in education, housing and telecommunications.

According to him, the student loan programme had expanded access to higher education for more than 1.5 million Nigerians.

Tinubu also said over 10,000 housing units were being developed under the Renewed Hope Housing Programme across several states and the Federal Capital Territory.

On telecommunications and digital innovation, he said government interventions had stabilised the sector and encouraged expansion in digital infrastructure and technology investments.

Security And National Unity

Addressing security concerns, Tinubu said military and security agencies had intensified operations against terrorists, kidnappers, bandits and oil thieves.

Although he admitted that challenges remained, the President maintained that several communities and highways had become safer in recent months.

He urged Nigerians to remain united and patient as the reforms continue to unfold.

“History teaches us that great nations are built through sacrifice, resilience and collective purpose,” he said.

Tinubu expressed confidence that Nigeria would emerge stronger, fairer and more economically stable in the years ahead.