President Bola Tinubu on Thursday marked his third year in office by assuring Nigerians that the sacrifices endured under his administration’s sweeping economic reforms have not been in vain. He said the measures blocked a daily loss of N18.4 billion to fuel subsidies and N8 trillion to foreign exchange arbitrage, stabilizing the economy and laying the foundation for recovery.
Tinubu acknowledged the strain the reforms placed on families, workers, and young people, but insisted they were necessary to prevent fiscal collapse. “Had we refused to act, our nation would have drifted toward fiscal breakdown, worsening poverty, and severe economic uncertainty. Together, we chose reform over ruin,” he said in his anniversary statement.
The president highlighted progress in financial markets, noting that the Nigerian All Share Index rose from 53,000 in 2023 to a record 250,000 in 2026, while market capitalization surged from N30 trillion to N160 trillion. He said investor confidence was growing, companies were declaring record profits, and states had more resources to invest in citizens.
Tinubu also pointed to infrastructure projects, citing 2,700 kilometers of highways under construction or rehabilitation, including the Lagos-Calabar Coastal Highway and the Abuja-Kaduna-Zaria-Kano Road. He said rail modernization and rural access roads were advancing, reducing travel time and boosting trade.
In the oil and gas sector, Tinubu said reforms had reversed investor flight, with billions of dollars in new commitments and the long-delayed $5 billion NLNG Train 7 project nearing completion. He argued that decisive action had restored confidence in Nigeria’s energy industry.
While thanking Nigerians for their resilience, Tinubu emphasized that the reforms were a choice between survival and collapse. He said the country is now better positioned for sustainable growth, with improved public finances, stronger institutions, and renewed optimism about the future.
