Two years on: Tinubu highlights economic reforms, renewed hope for Nigeria
President Bola Ahmed Tinubu
Abdullateef Fowewe
President Bola Tinubu marked the second anniversary of his administration with a detailed account of Nigeria’s economic journey under his leadership.
Addressing the nation, Tinubu emphasised the bold reforms undertaken to steer the country away from fiscal crisis and toward sustainable growth.
“Two years ago, you entrusted me with the sacred responsibility to lead our nation at a time of historic challenges. Together, we faced those headwinds with courage and determination,” Tinubu wrote on X (formally Twitter) on Thursday.
Highlighting key policy moves, he noted the removal of decades-long fuel subsidies and the dismantling of multiple exchange rate windows—measures he described as essential to prevent a looming fiscal collapse.
Despite initial hardships, the president pointed to tangible signs of recovery; easing inflation, declining staple prices, a revitalised oil and gas sector with over $8 billion in new investments, and a significant boost in foreign reserves from $4 billion to over $23 billion.
Tinubu also underscored fiscal discipline, citing a narrowed budget deficit and a dramatic drop in debt service-to-revenue ratio, alongside the successful repayment of IMF obligations.
He noted that his administration’s tax reforms have increased the tax-to-GDP ratio while protecting vulnerable groups through exemptions on food, education, healthcare, and public transport.
“This is not just about revenue. It is about inclusive economic growth. This is about economic justice,” he affirmed.
The president further highlighted initiatives aimed at empowering Nigeria’s youth and innovation sectors, from digital technology to renewable energy, and vowed to intensify efforts to improve national security.
Looking ahead, Tinubu expressed optimism about Nigeria’s global standing, referencing the upcoming Motherland Festival—a cultural event designed to celebrate and showcase the nation’s heritage and creative industries.
“Our journey is not over, but our direction is clear. So is our resolve. By the Grace of God, the worst is behind us. The real impact of our governance is beginning to take hold. The future is bright—and together, we will build a stronger, more inclusive Nigeria,” he concluded.
“Bet on Nigeria,” Tinubu urged, encapsulating his message of hope and resilience.
