By Ihechi Enyinnaya
President Bola Ahmed Tinubu has declared that Nigeria would emerge stronger, more united, and more prosperous despite the economic hardship and sacrifices experienced by citizens following his administration’s reforms over the last three years.
Speaking in a nationwide address to mark the third anniversary of his administration, Tinubu acknowledged the severe economic and structural challenges his government inherited in 2023, insisting that bold and difficult decisions were necessary to prevent the country from sliding into fiscal collapse.
“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,” the President stated.
Tinubu said his administration met a nation weighed down by mounting fiscal pressures, unsustainable fuel subsidies, exchange-rate distortions, rising debt-servicing costs, insecurity, energy supply constraints, and declining public confidence in institutions.
According to him, Nigeria spent as much as ₦18.4 billion daily on petrol subsidies, amounting to more than ₦4 trillion in 2022 alone, while multiple foreign exchange windows encouraged rent-seeking and speculative practices that cost the nation over ₦8 trillion in three years.
He defended the removal of fuel subsidy and the unification of the foreign exchange system, describing them as courageous but necessary decisions aimed at stabilising the economy and avoiding a deeper national crisis.
“The easy choices would have been politically convenient. But leadership demands courage, especially when the right decisions are difficult,” he said.
The President admitted that the reforms triggered a rise in the cost of living and created pressure on households, workers, and businesses across the country. However, he assured Nigerians that their sacrifices had not been in vain, adding that visible signs of recovery were beginning to emerge.
Tinubu stated that Nigeria’s economy is now more competitive and better positioned for sustainable growth than it was in 2023. He said public finances had improved significantly, while states and local governments now had more resources to invest in development projects.
Highlighting achievements in the financial sector, the President noted that the Nigerian stock market recorded unprecedented growth, with the All Share Index rising from 53,000 in 2023 to 250,000 in 2026, while market capitalisation increased from ₦30 trillion to ₦160 trillion.
He added that investor confidence was returning, with companies declaring record profits and dividends.
On infrastructure, Tinubu disclosed that over 2,700 kilometres of highways and major roads were currently under construction, reconstruction, or rehabilitation nationwide. He listed major projects including the Lagos-Calabar Coastal Highway, Sokoto-Badagry Super Highway, Abuja-Kaduna-Zaria-Kano Road, and the East-West Road.
According to him, several sections of the projects have already been completed or are nearing completion, helping to improve transportation, reduce travel time, stimulate regional trade, and create thousands of jobs.
The President also highlighted ongoing rail modernisation projects designed to improve connectivity, logistics, and economic integration across the federation.
In the oil and gas sector, Tinubu said reforms introduced by his administration had attracted billions of dollars in fresh investments from international oil companies. He disclosed that the $5 billion NLNG Train 7 project was nearing completion and would significantly boost Nigeria’s liquefied natural gas production and exports.
He further stated that local refining capacity had improved with the operation of large-scale domestic and modular refineries, reducing dependence on imported petroleum products and conserving foreign exchange.
Addressing the power sector, Tinubu said his government was clearing legacy debts, expanding transmission infrastructure, investing in renewable energy, and strengthening the national grid to support industrial growth and economic expansion.
“No modern economy can grow in darkness,” he declared.
The President also highlighted interventions in agriculture, education, housing, healthcare, and telecommunications.
He said millions of farmers had benefited from improved seedlings, fertilisers, mechanisation, irrigation support, and access to finance and markets.
Tinubu disclosed that the Nigerian Education Loan Fund had provided more than 1.5 million students with access to higher education, disbursing over ₦282 billion to beneficiaries nationwide.
He added that the Renewed Hope Housing Programme and the Federal Housing Authority were delivering more than 10,000 housing units across 14 states and the Federal Capital Territory, while creating over 300,000 jobs.
In healthcare, the President said thousands of primary healthcare centres were being revitalised while health insurance coverage for vulnerable Nigerians continued to expand.
He also noted that the telecommunications sector was gradually recovering from years of operational pressures, with telecom operators investing in infrastructure, expanding digital access, and recruiting Nigerian talent.
Speaking directly to young Nigerians, Tinubu described youths as “the engine of Nigeria’s future” and pledged continued investment in digital skills, technical education, entrepreneurship, innovation, and enterprise support.
On security, the President said the Armed Forces and security agencies had intensified operations against terrorists, kidnappers, bandits, oil thieves, and criminal networks across the country.
While acknowledging that security challenges still persisted, Tinubu maintained that many communities and highways were becoming safer and more economically active.
“We will not relent until every Nigerian can live, work, travel, and dream in safety,” he assured.
Calling for national unity and collective sacrifice, the President urged Nigerians to choose hope over despair and nation-building over division.
He stressed that no region, religion, or ethnic group should feel marginalised, insisting that Nigeria’s diversity remained a source of strength.
“Nigeria belongs to all of us. Whether Christian or Muslim, North or South, urban or rural, we rise or fall together as one nation under God,” Tinubu said.
The President praised Nigerians for their resilience through difficult periods in the nation’s history, including civil war, military dictatorship, and economic hardship, saying the Nigerian spirit remained “strong and unbroken.”
He concluded by expressing optimism about the future, urging citizens to remain hopeful and united as the country continues its journey of economic recovery and national renewal.
“Let us continue this journey together. Let us build a Nigeria that is secure, prosperous, inclusive, and respected worldwide,” he said.