President Bola Ahmed Tinubu on Friday addressed the nation to mark the third anniversary of his administration, declaring that his administration’s difficult economic decisions have successfully saved Nigeria from a total fiscal breakdown. Delivering a comprehensive account of his three years in office, the President acknowledged the severe hardships citizens have faced due to sweeping reforms but insisted that the country is now firmly on the path to long-term national recovery.
Reflecting on the state of the nation when he assumed office in 2023, President Tinubu stated that his administration inherited profound structural defects. He noted that the country was spending an unsustainable ₦18.4 billion daily to sustain petrol subsidies, totaling over ₦4 trillion in 2022 alone, while losing more than ₦8 trillion over three years to forex arbitrage and speculative practices.
“The situation demanded urgent and courageous action. Difficult but necessary decisions had to be taken to stabilise the economy and prevent a deeper national crisis,” President Tinubu said. “The easy choices would have been politically convenient. But leadership demands courage, especially when the right decisions are difficult. Had we refused to act, our nation would have drifted toward fiscal breakdown, worsening poverty, and severe economic uncertainty. Together, we chose reform over ruin.”
Rapid Infrastructure Expansion and Economic Growth
The President highlighted massive turnarounds in public finance and investor confidence as proof of economic stability. He pointed out that Nigeria’s stock market has experienced unprecedented growth under his watch, with the All Share Index skyrocketing from 53,000 to a record 250,000, and market capitalization soaring from ₦30 trillion in 2023 to ₦160 trillion in 2026.
Infrastructure development has similarly advanced on a massive scale. The administration is currently overseeing the construction, reconstruction, or rehabilitation of over 2,700 kilometers of highways, including mega-projects like the Lagos-Calabar Coastal Highway and the Sokoto-Badagry Super Highway. In the energy sector, the administration’s policy reforms have brought back billions of dollars in foreign investments, driving the $5 billion NLNG Train 7 project toward near-completion and vastly improving domestic refining capacity to secure energy independence.
Milestone Achievements in Education, Housing, and Tech
Addressing social interventions, President Tinubu highlighted the success of the newly established Nigerian Education Loan Fund (NELFUND), which has disbursed more than ₦282 billion to guarantee higher education access for over 1.5 million students. Furthermore, the Renewed Hope Housing Programme is delivering over 10,000 housing units across 14 states, a move that has expanded affordable housing while generating over 300,000 jobs for local laborers and artisans.
The President directly addressed the country’s youth, describing them as the engine of Nigeria’s future rather than a problem to be managed. He announced that targeted investments are expanding rapidly across digital skills, technical education, and entrepreneurship to ensure the country’s digital transformation remains globally competitive. Additionally, he noted that key interventions have helped stabilize the telecommunications sector, bringing back critical investor confidence and network expansions.
Reclaiming National Security and Curbing Inflation
On national security, the President confirmed that the Armed Forces have intensified operations against terrorists, bandits, kidnappers, and oil thieves. While acknowledging that security challenges persist, he reassured citizens that many highways and communities are becoming safer, promising that the government will not relent until every Nigerian can live and travel in safety.
Looking ahead, President Tinubu stated that the primary objective for the remainder of his term is ensuring that ordinary citizens directly feel the benefits of these macro-economic reforms. He stated that the administration is actively working to sustain the reduction of food prices from their 2023/2024 peak and is aggressively rolling out Compressed Natural Gas (CNG) and electric vehicle conversions to permanently lower transportation costs for commercial operators.
“The work ahead is enormous, but I remain optimistic because I believe deeply in this country and in you, the Nigerian people,” the President concluded. “History tests nations before it elevates them. Nigeria is passing through such a test. But I believe with all my heart that we shall emerge stronger, fairer, more united, and more prosperous than ever before.”
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