ABUJA — President Bola Ahmed Tinubu on Wednesday marked the second anniversary of his administration with a national broadcast, highlighting key economic reforms, strides in infrastructure, improved security, and renewed global engagement as pillars of his government’s achievements.
In a comprehensive address, President Tinubu acknowledged the challenges facing the nation at the time he assumed office in 2023, pointing to what he described as “historic economic headwinds” that necessitated bold reforms. “We implemented the removal of fuel subsidies and unified the foreign exchange system to prevent a looming fiscal crisis,” he said.
According to the President, the reforms—though painful—have begun to yield results. He noted that inflation had begun to ease, the naira stabilised, and over $8 billion in new oil and gas investments were committed in 2025 alone. “Our real GDP rose by 4.6% in the last quarter of 2024, and 3.4% for the year—the strongest in a decade,” he stated.
Tinubu said the administration’s decision to halt Ways & Means financing and increase oil production had improved Nigeria’s fiscal health, with a narrowing budget deficit and stronger revenue performance. He revealed that the country had grown its net external reserves from $4 billion in 2023 to over $23 billion by the end of 2024, while the debt service-to-revenue ratio had dropped from nearly 100% to under 40%.
Tax reforms also featured prominently in the President’s address. He said the tax-to-GDP ratio had improved from 10% to 13.5% in one year, driven by administrative improvements and the removal of opaque waivers. He added that essential goods and services such as food, healthcare, education, rent, and public transport were now exempt from VAT.
On security, Tinubu noted improved inter-agency cooperation and intelligence-driven operations. He praised security personnel for reclaiming territory from bandits in the Northwest and restoring safety on key roads. “Every Nigerian deserves to live without fear,” he said.
The President also outlined his administration’s human capital investments, including student loans, revitalised primary health centres, expanded health insurance coverage, and the deployment of skilled personnel to underserved areas. Over 4,000 women have reportedly received free cesarean sections under the Presidential Maternal Health Initiative.
Highlighting youth empowerment, Tinubu pointed to innovation programmes under the National Agency for Science and Engineering Infrastructure (NASENI) and job creation in agriculture and technology. “We are assembling electric vehicles, launching Africa’s most advanced Rapid Diagnostic Kit factory, and training female drone engineers,” he said.
Major road and energy projects across the country were listed, including the Lagos-Calabar Coastal Highway, Abuja-Kaduna-Zaria-Kano Road, and upgrades in off-grid solar energy.
Tinubu also announced the upcoming Motherland Festival, a cultural initiative to showcase Nigeria’s heritage, creativity, and global partnerships, inviting the diaspora and international community to engage with Nigeria anew.
He concluded by thanking Nigerians for their patience, resilience, and support. “The real impact of our governance is beginning to take hold. The future is bright, and together, we will build a stronger, more inclusive Nigeria.”
