Abuja, Nigeria — President Bola Ahmed Tinubu on Wednesday addressed the nation to mark the second anniversary of his administration, hailing his economic and structural reforms as the foundation of a more prosperous and equitable Nigeria.

In a televised broadcast, Tinubu said his government’s decisions—though tough—were necessary to arrest economic decline and steer the country toward long-term growth, transparency, and national stability.

“We are laying the foundation for a more sustainable future… where prosperity is shared, and no one is left behind,” the President declared.

Elected in May 2023, Tinubu inherited an economy plagued by high inflation, mounting debt, and multiple exchange-rate windows. He said his first actions—ending the fuel subsidy and unifying exchange rates—were bold but essential moves to save the country from fiscal collapse.

“Those policies were a chokehold on our nation’s future,” Tinubu said, noting that they were draining national resources and enabling corruption.

The President acknowledged the hardship many Nigerians have endured as a result of these reforms but insisted that the long-term benefits are becoming evident. He pointed to falling inflation, rising foreign reserves, increased oil production, and improving fiscal stability as signs that the economy is stabilising.

Key Economic Milestones

According to Tinubu, Nigeria’s external reserves have risen from about $4 billion in 2023 to more than $23 billion by the end of 2024, while oil sector investments exceeded $8 billion, with rig activity quadrupling compared to 2021.

First-quarter revenues in 2025 topped ₦6 trillion, and the fiscal deficit has narrowed to 3% of GDP, down from 5.4% in 2023. The President also reported that the debt-service-to-revenue ratio has dropped from nearly 100% in 2022 to below 40% in 2024.

“We halted Ways-and-Means borrowing, restored fiscal discipline, and transformed the NNPC into a net contributor to the Federation Account,” Tinubu said.

He announced the introduction of a new National Fiscal Policy framework to guide responsible borrowing, fair taxation, and disciplined government spending. A Tax Ombudsman, he added, would be created to protect vulnerable taxpayers and promote fairness.

Social Reforms and Infrastructure Development

Tinubu outlined significant progress in healthcare, education, and infrastructure. More than 1,000 primary health centres have been refurbished, with 5,500 more underway. Free dialysis and caesarean sections have been introduced in pilot facilities, and national health insurance coverage now reaches 20 million Nigerians.

He also announced the completion of three new cancer-treatment centres and the ongoing construction of three more. In education, student loan schemes and vocational training programs are helping young people access learning and employment opportunities.

Massive road and energy infrastructure projects, including the Lagos-Calabar Coastal Highway and Second Niger Bridge link roads, are progressing. Power generation is also being boosted through grid expansion and solar investments.

Digital and Agricultural Innovation

The President noted major strides in digital innovation, renewable energy, and agriculture. Projects under NASENI—including Innovate Naija and Irrigate Nigeria—are supporting sustainable energy and tech-based development. A new export strategy and streamlined trade processes are also expected to enhance Nigeria’s global competitiveness.

On food security, Tinubu said his administration has deployed thousands of new tractors, fertiliser, and support to farmers to boost crop yields and curb food inflation.

Acknowledging the People

While celebrating progress, the President expressed gratitude to Nigerians for their resilience and patience during a turbulent period of national transformation.

“I do not take your sacrifices for granted,” he said. “We are moving from reforms to results, and the real impact is beginning to take hold.”

Security and Foreign Relations

Tinubu reaffirmed that economic progress cannot endure without peace and security. He said security agencies are better coordinated and better equipped, with recent operations reclaiming territory from bandits and ensuring safer highways.

On the global front, he highlighted new initiatives, including the upcoming Motherland Festival and the launch of diaspora investment instruments, designed to engage Nigerians abroad and drive foreign capital inflow.

Looking Ahead

As his administration enters its third year, Tinubu said he remains committed to building a stronger, fairer Nigeria.

“The worst is behind us,” he concluded. “With faith in God and determination, we will overcome every challenge and build a nation that works for all.”

The address served as a midterm report card and reaffirmation of Tinubu’s “Renewed Hope Agenda,” a vision that continues to draw both praise and criticism from economic experts and political analysts.

For many Nigerians, the question remains whether the promised stability and prosperity will be fully realised as the administration enters the second half of its tenure.