President Bola Ahmed Tinubu on Thursday marked the third anniversary of his administration with a nationwide address highlighting key economic reforms, infrastructure projects, and social intervention programmes introduced since assuming office in May 2023.
In his anniversary statement, Tinubu acknowledged the economic hardship experienced by Nigerians following the removal of fuel subsidies and foreign exchange reforms but maintained that the decisions were necessary to prevent a deeper fiscal crisis.
According to the President, Nigeria was spending as much as ₦18.4 billion daily on petrol subsidies before his administration ended the regime, while multiple exchange-rate windows allegedly encouraged forex arbitrage and revenue leakages running into trillions of naira.
Tinubu said the reforms, though painful, had stabilised the economy and restored investor confidence, noting that the Nigerian stock market had recorded significant growth since 2023.
The President also highlighted ongoing infrastructure projects across the country, including the Lagos-Calabar Coastal Highway, Sokoto-Badagry Super Highway, Abuja-Kaduna-Zaria-Kano Road, and the East-West Road. He stated that over 2,700 kilometres of highways and major roads were currently under construction, reconstruction, or rehabilitation.
On energy and industrial development, Tinubu said reforms in the oil and gas sector had attracted fresh investments, while local refining capacity and domestic gas utilisation were improving Nigeria’s energy security and reducing dependence on imported petroleum products.
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He added that the administration was working to revive the power sector through expanded transmission infrastructure, renewable energy investments, and efforts to clear legacy debts affecting electricity generation and distribution.
Speaking on social intervention programmes, the President disclosed that the Nigerian Education Loan Fund had provided over 1.5 million students access to higher education financing, with more than ₦282 billion disbursed so far.
Tinubu further stated that the Renewed Hope Housing Programme and projects under the Federal Housing Authority were delivering over 10,000 housing units across 14 states and the Federal Capital Territory, while creating thousands of jobs.
The President also pointed to investments in agriculture, healthcare, telecommunications, and digital infrastructure, saying the government was expanding opportunities for young Nigerians through technology, enterprise support, technical education, and innovation.
On insecurity, Tinubu said security agencies had intensified operations against terrorists, kidnappers, bandits, and oil thieves across the country, assuring Nigerians that the government would continue to strengthen intelligence gathering and military operations to restore peace and public safety.
While admitting that the country still faced serious challenges, the President urged Nigerians to remain hopeful and united, insisting that the foundations for economic recovery and long-term national development had been laid.
He called on citizens to reject division and support efforts aimed at building a secure, prosperous, and inclusive Nigeria.
“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,” Tinubu said.
