President Bola Tinubu has said the sacrifices made by Nigerians amid ongoing economic reforms have not been in vain, insisting that his administration has achieved key stability gains as it marks three years in office.
In a statement commemorating his May 29, 2026 anniversary in office, Tinubu reflected on the challenges inherited in 2023, including fiscal pressure, fuel subsidy burden, foreign exchange instability, rising debt servicing costs, insecurity and weak economic confidence.
According to the president, the government was spending N18.4 billion daily on fuel subsidy at the time, while inefficient foreign exchange systems reportedly cost Nigeria more than ₦8 trillion within three years.
He defended the reforms introduced by his administration as necessary measures, warning that failure to act would have resulted in “fiscal breakdown, worsening poverty and severe economic uncertainty.”
“We chose reform over ruin,” Tinubu stated.
Acknowledging the hardship caused by the reforms, the president admitted that the policies placed pressure on households and businesses through rising living costs.
“These decisions came with sacrifice,” he said, adding, “Your sacrifices have not been in vain. And today, I can say with confidence that Nigeria has stabilised and is moving forward again.”
Tinubu highlighted improvements in public finances, increased revenue allocations to states and ongoing infrastructure expansion, noting that more than 2,700 kilometres of roads are currently under construction nationwide.
He also pointed to renewed investment in the oil sector and progress in local refining.
On power supply, the president said ongoing reforms are addressing debt and infrastructure gaps in the sector, stressing that improved electricity would stimulate job creation and industrial growth.
In the area of education and social welfare, Tinubu disclosed that N282 billion in student loans had been disbursed to about 1.5 million students, while more than 10,000 housing units had been delivered across the country.
He further stated that security operations against insurgents and criminal networks remain ongoing, while urging Nigerians to remain united and resilient.
“We must choose hope over despair, unity over division, and nation-building over narrow interests,” he said, adding that national progress requires patience and collective effort.
