After three years of hardship, President Bola Tinubu has urged Nigerians to remain optimistic as the economy shows signs of improvement.
In a statement marking his May 29, 2026, anniversary, Tinubu emphasized that the sacrifices made by Nigerians during economic reforms have not been for nothing, highlighting his administration’s accomplishments in stabilizing the economy.
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Reflecting on the challenges faced since taking office in 2023—such as fiscal pressures, fuel subsidy burdens, foreign exchange instability, high debt servicing, insecurity, and diminished economic confidence—he noted that daily spending on fuel subsidies reached N18.4 billion, while inefficient foreign exchange systems cost Nigeria over ₦8 trillion in three years.
Defending the reforms as crucial, he warned that failing to act could have led to “fiscal breakdown, increasing poverty, and significant economic uncertainty,” stating that his administration prioritized “reform over ruin.”
Recognizing the resulting hardships, including rising living costs affecting both households and businesses, he assured the public that “your sacrifices have not been in vain” and expressed confidence that Nigeria is now stabilizing and progressing.
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Tinubu pointed to improvements in public finances, increased state revenues, the expansion of infrastructure with over 2,700 km of roads underway, and renewed investments in oil, including advancements in local refining.
On energy, he stated that reforms are tackling debt and infrastructure gaps, with the aim of improved electricity access to foster job creation and industrial growth. Furthermore, in education and social welfare, he announced that N282 billion in student loans has been distributed to 1.5 million students, along with the delivery of over 10,000 housing units across the country.
He also informed that security operations against insurgents and criminal organizations are ongoing and called for unity and resilience among the populace, urging a preference for hope over despair, unity over division, and a commitment to nation-building over narrow interests, while emphasizing that national progress requires patience and collective effort.
