On Wednesday, President Bola Ahmed Tinubu marked the second anniversary of his administration with a sweeping review of economic, social, and security gains, declaring that Nigeria has begun to turn the corner after two years of painful but necessary reforms.
In a State House address commemorating his two-year milestone in office, Tinubu credited his administration’s early policy decisions, including the removal of fuel subsidies and the unification of the exchange rate, for stabilising the economy and avoiding fiscal collapse.
“It was clear we had to act boldly or face economic disaster,” Tinubu said. “Subsidies and the previous FX regime were unsustainable. We chose the difficult path to secure Nigeria’s future.”
Economic Reforms Delivering Results
President Tinubu affirmed that the administration’s fiscal and monetary reforms are beginning to yield results. According to him, Nigeria’s inflation rate is easing, food prices are falling, and critical sectors like oil and gas are bouncing back.
Rig activity in the oil sector rose by over 400% in 2025 compared to 2021, with more than $8 billion in new investment pledged, Tinubu said. The country’s fiscal deficit shrank from 5.4% of GDP in 2023 to 3.0% in 2024, while Q1 2025 revenue exceeded ₦6 trillion.
He also noted the end of Ways & Means financing and a boost in Federation Account inflows from the NNPC following subsidy removal. Nigeria’s external reserves, he added, have grown from $4 billion in 2023 to over $23 billion by the end of 2024.
“We’ve moved from crisis to stability,” Tinubu said. “Our economy is now better positioned to withstand shocks.”
Tax Reforms, Youth Inclusion, and Domestic Investment
The president cited rising tax-to-GDP ratios, now at 13.5%, as evidence of effective reforms. He promised more relief for low-income households, with 0% VAT on food, education, healthcare, and public transport.
Tinubu also highlighted the role of youth empowerment programmes like Innovate Naija and NASENI’s industrial initiatives in shaping a digital-first, job-creating economy. From training female drone engineers to building electric vehicles, the government, he said, is placing young Nigerians “at the heart of national development.”
“This is the movement we promised—a government powered by youth innovation,” he declared.
Security, Infrastructure, and Social Investment
The president praised security agencies for improving inter-agency collaboration and restoring peace to formerly bandit-controlled areas in the northwest. As a result, farmers have returned to their lands, and road travel has become safer.
He announced that 1,000 primary health centres have been revitalised, 5,500 more are undergoing upgrades, and three of six planned cancer treatment centres are now operational. Health insurance coverage has expanded from 16 to 20 million people.
Infrastructure remains a core priority. Tinubu listed major federal road projects—including the Lagos-Calabar Coastal Highway, Second Niger Bridge Access Road, and Abuja-Kaduna-Zaria-Kano dual carriageway—as key achievements under the Renewed Hope Agenda. In the power sector, the government is upgrading transmission infrastructure and scaling solar energy for homes, hospitals, and businesses.
Looking Outward: Diaspora, Trade, and Unity
Tinubu also announced Nigeria will host the “Motherland Festival,” a global celebration of culture and innovation that will spotlight tourism and reconnect with the diaspora. He praised the diaspora’s contributions and introduced policy measures like diaspora bonds and non-resident BVNs to enhance engagement.
“Nigeria is not only a leader in Africa,” Tinubu said, “but a committed global partner ready to engage, inspire, and lead.”
Outlook: ‘The Worst Is Behind Us’
Tinubu closed his address by acknowledging the sacrifices made by Nigerians during difficult reforms, but insisted the nation is now on a stronger path.
“The worst is behind us. The impact of our governance is taking hold. Together, we’ll build a stronger, inclusive Nigeria for future generations.”
