…Highlights economic recovery, infrastructure gains
…Defends reforms, promises more gains for Nigerians
President Bola Ahmed Tinubu on Thursday said the sacrifices Nigerians have made since the inception of his administration were beginning to yield results, declaring that the country had stabilised and was moving forward after difficult but necessary reforms.
In a statement to mark the third anniversary of his administration on May 29, 2026, the President said he took over power at a time Nigeria was confronted with deep economic and structural challenges, including mounting fiscal pressures, unsustainable fuel subsidies, declining revenues, exchange-rate distortions, rising debt-servicing costs, insecurity, energy constraints and weakening public confidence in institutions.
Tinubu said the situation required urgent and courageous decisions to prevent the country from sliding into deeper economic crisis.
According to him, Nigeria had been spending as much as N18.4 billion daily on petrol subsidy at the height of the regime, with more than N4 trillion spent in 2022 alone, while multiple exchange-rate windows and forex arbitrage cost the country over N8 trillion in three years.
He said although the reforms imposed hardship on citizens, particularly through rising living costs, the measures were necessary to restore stability and lay the foundation for long-term recovery.
“I remain deeply conscious of those sacrifices, and I assure you: your sacrifice has not been in vain. Today, I can say with confidence that Nigeria has stabilised and is moving forward again,” the President said.
Tinubu said the economy was now more competitive and better positioned for sustainable growth than in 2023, with improving public finances, increased resources for states and local governments, and growing investor confidence.
He said the stock market had recorded strong growth, with the All Share Index rising from 53,000 in 2023 to 250,000 in 2026, while market capitalisation increased from N30 trillion to N160 trillion.
The President also highlighted progress in infrastructure, saying over 2,700 kilometres of highways and major roads were under construction, reconstruction or rehabilitation across the country, including the Lagos-Calabar Coastal Highway, Sokoto-Badagry Super Highway, Abuja-Kaduna-Zaria-Kano Road and East-West Road.
He added that rail modernisation projects were ongoing to improve connectivity, logistics and economic integration nationwide.
In the oil and gas sector, Tinubu said reforms had attracted fresh investments, including the $5 billion NLNG Train 7 project, while improved local refining capacity and expanding domestic gas utilisation were strengthening energy security and reducing dependence on imported petroleum products.
On power, he said the administration was tackling legacy challenges in the sector by clearing obligations, expanding transmission infrastructure, investing in renewable energy and strengthening the national grid.
The President also listed interventions in agriculture, education, housing and healthcare as part of efforts to improve living conditions.
He said agricultural support programmes had reached millions of farmers through seedlings, fertilisers, mechanisation, irrigation, finance and market access.
Tinubu further said the Nigerian Education Loan Fund had supported over 1.5 million students with more than N282 billion in disbursements, while the Renewed Hope Housing Programme and projects of the Federal Housing Authority were delivering over 10,000 housing units across 14 states and the FCT, creating more than 300,000 jobs.
He added that thousands of primary healthcare centres were being revitalised, while health insurance coverage was expanding for vulnerable Nigerians.
In the telecommunications sector, the President said decisive actions taken by the government had begun to restore investor confidence, with operators expanding networks, investing in infrastructure and widening digital access.
Addressing Nigerian youths, Tinubu said the administration was investing in digital skills, technical education, innovation, student financing and enterprise support to position them for success in technology, manufacturing, creative industries, agriculture and entrepreneurship.
On security, the President said the Armed Forces and security agencies had intensified operations against terrorists, bandits, kidnappers, oil thieves and other criminal networks, noting that although challenges remained, many communities and highways were becoming safer.
He assured Nigerians that the government would continue to invest in intelligence, surveillance, logistics, technology and inter-agency coordination to reclaim areas threatened by criminality.
Tinubu admitted that his administration had not solved every problem, but insisted that the foundation for national recovery had been laid.
He said government would continue working to keep food prices low, reduce transportation costs through CNG conversion and electric vehicle adoption, and create more opportunities for decent jobs and enterprise growth.
Calling for unity and shared purpose, the President urged Nigerians to choose hope over despair and nation-building over division.
He said no part of the country should feel excluded, stressing that Nigeria’s diversity remained a source of strength.
“The journey of national renewal is not completed in a single year or a single administration’s tenure. Nations rise when their people remain united in purpose, disciplined in effort, and hopeful about the future,” he said.
The President expressed optimism that Nigeria would emerge stronger, fairer, more united and more prosperous, urging citizens to keep faith with the country and continue the journey of reform and recovery together.
