By By Elizabeth Ugbo
President Bola Tinubu on Thursday marked the third anniversary of his administration by defending his economic reforms and outlining progress across infrastructure, security, education, healthcare, and agriculture in Nigeria. Speaking to Nigerians nationwide, Tinubu said his government took difficult but necessary decisions to stabilise the economy, remove fuel subsidies, attract investments, and rebuild public confidence. He acknowledged the hardship caused by the reforms but assured citizens that the country was already experiencing recovery and sustainable growth.
Tinubu Explains Why His Government Removed Fuel Subsidy
Tinubu said Nigeria faced severe economic and structural challenges when his administration took office in 2023. According to him, the country struggled with rising debt, exchange rate distortions, insecurity, weak public finances, and declining investor confidence.
He explained that the fuel subsidy regime consumed as much as ₦18.4 billion daily and over ₦4 trillion in 2022 alone. He added that multiple exchange rate systems encouraged corruption and caused Nigeria to lose more than ₦8 trillion within three years.
The President stressed that his administration chose reform over economic collapse. He said the decisions were painful but necessary to prevent deeper poverty and fiscal breakdown.
Tinubu Says Nigeria’s Economy Is Recovering
Tinubu stated that Nigeria’s economy has become more competitive and stable since the reforms began. He noted that investor confidence has improved while state governments now have more resources for development.
He also highlighted major gains in the Nigerian stock market. According to him, the All Share Index rose from 53,000 in 2023 to 250,000 in 2026. Market capitalisation also increased from ₦30 trillion to ₦160 trillion.
Furthermore, he said companies across different sectors are posting stronger profits and paying higher dividends.
Major Road and Rail Projects Underway Across Nigeria
The President said his administration has accelerated infrastructure development nationwide. He revealed that over 2,700 kilometres of roads and highways are currently under construction, reconstruction, or rehabilitation.
Some of the flagship projects include the Lagos-Calabar Coastal Highway, Sokoto-Badagry Super Highway, Abuja-Kaduna-Zaria-Kano Road, and the East-West Road.
According to Tinubu, several sections of these projects are nearing completion. He added that the projects would reduce travel time, improve trade, and create jobs.
In addition, he said rail modernisation projects are progressing to strengthen transportation and economic integration.
Oil and Gas Reforms Attract Fresh Investments
Tinubu said reforms in the oil and gas sector have restored investor confidence in Nigeria. He disclosed that international oil companies have resumed investments after years of hesitation.
He also announced that the $5 billion NLNG Train 7 project is nearing completion. According to him, the project will increase gas production, exports, and national revenue.
The President added that local refining capacity has improved significantly. He explained that Nigeria now relies less on imported petroleum products because of operational domestic and modular refineries.
Tinubu Promises Improved Power Supply
The President acknowledged the long-standing challenges in Nigeria’s power sector. However, he said his administration is clearing old debts, expanding transmission infrastructure, and investing in renewable energy.
He stressed that improved electricity remains critical to industrial growth, business expansion, and job creation.
According to him, the government remains committed to building a stronger and more reliable national grid.
Federal Government Expands Agriculture, Housing and Student Loans
Tinubu stated that agricultural interventions have supported millions of farmers across Nigeria. He said the government improved access to fertilisers, seedlings, mechanisation, irrigation, and finance.
He also highlighted the impact of the Nigerian Education Loan Fund. According to him, over 1.5 million students have benefited from the programme, with more than ₦282 billion already disbursed.
The President further revealed that the Renewed Hope Housing Programme and the Federal Housing Authority are delivering over 10,000 housing units across 14 states and the FCT.
He explained that the housing projects have created over 300,000 jobs nationwide.
Tinubu Highlights Healthcare and Telecom Expansion
Tinubu said thousands of primary healthcare centres are currently undergoing revitalisation across Nigeria. He added that health insurance coverage for vulnerable citizens is also expanding.
Meanwhile, the President noted that his administration has stabilised the telecommunications sector. He said telecom operators are now investing more in network expansion and digital infrastructure.
According to him, improved digital access will support commerce, education, innovation, and national productivity.
Tinubu Encourages Nigerian Youths
The President described Nigerian youths as the driving force behind the country’s future. He assured young people that the government is investing in digital skills, innovation, technical education, and entrepreneurship support.
He also promised more opportunities across technology, agriculture, sports, manufacturing, and creative industries.
Tinubu Reaffirms Commitment to Security and National Unity
Tinubu said security agencies have intensified operations against terrorists, kidnappers, bandits, and oil thieves across the country.
Although he admitted that challenges remain, he stated that many communities and highways are becoming safer. He also pledged continued investment in intelligence, surveillance, logistics, and military technology.
The President called for unity among Nigerians, regardless of religion, ethnicity, or region. He stressed that national progress depends on collective effort and inclusion.
Tinubu Urges Nigerians to Remain Hopeful
Tinubu admitted that Nigeria still faces significant challenges. However, he insisted that the foundation for economic recovery has been established.
He urged Nigerians to reject division and remain hopeful about the future. According to him, the country is gradually regaining global confidence through reforms, infrastructure development, and economic growth.
The President concluded by calling on citizens to continue supporting the journey toward a secure, prosperous, and united Nigeria.
