President Bola Ahmed Tinubu has defended the economic reforms introduced by his administration, insisting that Nigeria has begun to recover from years of fiscal challenges and economic instability.
In a statement marking the third anniversary of his administration, Tinubu said difficult decisions taken since he assumed office on May 29, 2023, have helped stabilise the economy, restore investor confidence and prevent what he described as a possible fiscal collapse.
The President identified the removal of fuel subsidy, the unification of foreign exchange rates and broader fiscal reforms as some of the key measures that have helped reposition the country’s economy. According to him, the policies ended long-standing distortions, reduced leakages and improved government finances.
Tinubu acknowledged that the reforms came with significant hardship for many Nigerians due to rising living costs and inflation, but maintained that the measures were necessary to rescue the nation from economic breakdown. He stated that the country is now witnessing signs of recovery, stronger public finances and renewed investor interest.
Highlighting achievements recorded over the past three years, the President pointed to progress in infrastructure development, agriculture, education, security and energy reforms. He also noted improvements in public revenue generation and increased investments in critical sectors of the economy.
“Today, on the occasion of the third anniversary of our administration, I speak to you not only as your President but also as a fellow citizen who understands the sacrifices many families have made in recent years and shares your hopes for a better Nigeria,” Tinubu stated.
The President assured Nigerians that his administration would continue implementing policies aimed at reducing hardship, creating jobs, strengthening food security and expanding economic opportunities across the country.
While government officials and supporters argue that the reforms are beginning to produce positive results, critics maintain that many Nigerians are yet to feel meaningful improvements in their daily lives despite the administration’s claims of economic stabilisation.
