President Bola Ahmed Tinubu says Nigeria is gradually recovering from economic and structural challenges following difficult reforms introduced by his administration over the last three years.
In a nationwide address to mark the third anniversary of his administration, President Tinubu acknowledged the hardship Nigerians have endured but assured citizens that their sacrifices were not in vain.
The President said his administration inherited severe economic difficulties, including unsustainable fuel subsidies, exchange-rate distortions, rising debt servicing costs, insecurity, and declining public confidence in institutions.
According to him, Nigeria spent as much as eighteen point four billion naira daily on petrol subsidy at the peak of the regime, with over four trillion naira spent in twenty twenty-two alone.
He explained that multiple exchange-rate windows also led to major distortions and speculative practices that cost the country more than eight trillion naira over three years.
President Tinubu said urgent decisions were necessary to prevent fiscal collapse and restore economic stability, stressing that leadership required courage in difficult times.
The President noted that despite the rising cost of living and pressure on households and businesses, signs of recovery are beginning to emerge across several sectors of the economy.
He stated that investor confidence is improving, while the stock market has witnessed significant growth, with the All Share Index rising from fifty-three thousand in twenty twenty-three to two hundred and fifty thousand in twenty twenty-six.
President Tinubu also highlighted major infrastructure projects currently ongoing across the country, including the Lagos-Calabar Coastal Highway, the Sokoto-Badagry Super Highway, the Abuja-Kaduna-Zaria-Kano Road, and the East-West Road.
He said over two thousand seven hundred kilometres of highways and roads are under construction, reconstruction, or rehabilitation nationwide.
On the oil and gas sector, the President disclosed that reforms introduced by his administration have attracted fresh investments, while the Nigeria LNG Train Seven project is nearing completion.
He added that increased local refining capacity and modular refineries are helping Nigeria reduce dependence on imported petroleum products.
The President further stated that government is investing heavily in the power sector through transmission expansion, renewable energy projects, and improvements to the national grid.
On agriculture, President Tinubu said millions of farmers have benefited from interventions in fertiliser distribution, mechanisation, irrigation, and access to finance.
He also revealed that the Nigerian Education Loan Fund has supported over one point five million students with more than two hundred and eighty-two billion naira disbursed for higher education financing.
The President said the Renewed Hope Housing Programme and projects by the Federal Housing Authority are delivering over ten thousand housing units across fourteen states and the Federal Capital Territory.
In the telecommunications sector, President Tinubu said government interventions are restoring investor confidence, expanding digital infrastructure, and increasing access to connectivity nationwide.
Addressing Nigerian youths, the President described them as the engine of the nation’s future and pledged continued investment in digital skills, innovation, technical education, and enterprise development.
On security, President Tinubu said the Armed Forces and security agencies have intensified operations against terrorists, bandits, kidnappers, and oil thieves, noting that several communities and highways are becoming safer.
The President maintained that while challenges remain, progress is being made in reclaiming peace and restoring economic activities across affected areas.
President Tinubu urged Nigerians to remain united and hopeful, stressing that national development requires collective sacrifice, resilience, and shared purpose.
He assured citizens that his administration remains committed to reducing food prices, lowering transportation costs through CNG and electric vehicle initiatives, and creating more employment opportunities.
The President called on Nigerians to reject division and continue supporting efforts aimed at building a secure, prosperous, inclusive, and globally respected nation.
President Tinubu concluded by expressing confidence that Nigeria would emerge stronger, more united, and more prosperous in the years ahead.
