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President Bola Tinubu says Nigeria has “stabilised and is moving forward again” after three years of painful but necessary economic reforms, as he marked the third anniversary of his administration.
In a statement released to the public on Friday, Tinubu acknowledged Nigerians’ sacrifices but insisted that the country is now on a firmer footing than when he took office three years ago.
“I remain deeply conscious of those sacrifices, and I assure you: your sacrifice has not been in vain,” Tinubu said.
“And today, I can say with confidence that Nigeria has stabilised and is moving forward again. Across the country, visible progress is taking shape.”
The statement was made available by Bayo Onanuga, Special Adviser to the President on Information and Strategy, on X.
The president defended the removal of a costly fuel subsidy and the unification of the naira’s multiple exchange rates, reforms that triggered a sharp rise in living costs but which his government says were necessary to avert fiscal disaster.
At the height of the subsidy regime, Tinubu said, Nigeria was spending as much as 18.4 billion naira daily to sustain petrol subsidies.
“At the height of the subsidy regime, Nigeria was spending as much as ₦18.4 billion daily to sustain petrol subsidies—over ₦4 trillion in 2022 alone—resources that could have been invested in roads, healthcare, education, housing, and critical infrastructure.
“Multiple exchange rate windows and forex arbitrage created massive distortions, with Nigeria losing more than ₦8 trillion over three years to rent-seeking and speculative practices.
“The situation demanded urgent and courageous action. Difficult but necessary decisions had to be taken to stabilise the economy and prevent a deeper national crisis. The easy choices would have been politically convenient. But leadership demands courage, especially when the right decisions are difficult.
“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 and decisiveness over hesitation. We chose long-term national recovery over short-term comfort.
“These decisions came with sacrifice. The rising cost of living triggered by our measures placed enormous pressure on families, workers, and businesses. Young people searching for jobs felt discouraged. Many questioned whether these difficult decisions would lead to a better future.”
Tinubu noted that security challenges remain but said progress is being made.
“Security remains central to our national mission and to the creation of a virile and prosperous society. Our Armed Forces and security agencies have intensified operations against terrorists, bandits, kidnappers, oil thieves, and criminal networks.”
“While challenges remain, many communities and highways are becoming safer and more economically active. We continue investing in intelligence, surveillance, logistics, technology, and inter-agency coordination.
“We are improving the capabilities of our armed forces and security agencies, and reclaiming the authority of the Nigerian state wherever criminality threatens peace and order.
“While we continue to confront the challenges head-on, progress is being made. I want to assure you that this government will not relent until every Nigerian can live, work, travel, and dream in safety.”
The president called on Nigerians to choose hope over despair and unity over division.
“Nations rise when their people remain united in purpose, disciplined in effort, and hopeful about the future. We must choose hope over despair, unity over division, and nation-building over narrow interests.”
“But true security and prosperity require that every Nigerian feel included and valued. Nigeria belongs to all of us—no region, faith, or group should feel marginalised or forgotten. Our diversity is a source of strength. Whether Christian or Muslim, North or South, urban or rural, we rise or fall together as one nation under God.”
STATEMENT BY PRESIDENT BOLA AHMED TINUBU (GCFR) ON THE THIRD ANNIVERSARY OF HIS ADMINISTRATION, MAY 29, 2026.
My fellow compatriots,
Three years ago, you entrusted me with the sacred responsibility of leading our beloved nation at a defining moment in our history. I accepted… pic.twitter.com/vC9dGZLbrd
— Bayo Onanuga, OON, CON (@aonanuga1956) May 29, 2026
