President Bola Tinubu says his reforms of the past two years in office are laying a sustainable foundation for a more prosperous future for Nigerians.
Tinubu, who was elected as President on May 29, 2023, stated that his Renewed Hope Agenda was working to reduce the cost of living, promote economic justice and build a business-friendly economy that attracts investment and supports every Nigerian.
“We are laying the foundation for a more sustainable future…together, we are creating a system where prosperity is shared, and no one is left behind,” Tinubu stated in his nationwide address to mark his second year in office today.
He framed these efforts as building blocks for a “more sustainable future” and thanked Nigerians for their unwavering support.
In commending Nigerians for their steadfastness through two turbulent years, he said their support had been vital to confronting inherited challenges head-on.
“Fellow Nigerians, as we mark the second anniversary of our administration, I salute your resilience and undaunted spirit.
“While my administration has implemented the reforms to restore and reinvigorate our economy and strengthen our social fabric as a strong and united country, I must thank my fellow citizens for your unrelenting support and belief in the grand vision we share to uplift our nation and renew our collective hopes and aspirations.
“Two years ago, you entrusted me with the sacred responsibility to lead our nation at a time of historic challenges. Together, we have faced these headwinds with courage and determination. The economic and general situation of the country I inherited required that we redirect the country’s affairs with a bold and new vision. I immediately implemented two necessary policies to stop our country from further drifting into the precipice,” he noted.
The President argued that if the Federal Government and the other two tiers of government were to remain viable and cater to the citizens’ welfare, it must do away with decades-long fuel subsidies and the corruption-ridden multiple foreign exchange windows.
“The two were no longer sustainable and have become a chokehold on our nation’s neck, strangling our nation’s future,” he argued.
He reminded citizens that the administration is at the halfway mark of its mandate and reaffirmed that the economic turnaround is well underway.
“Today, May 29, 2025, offers our administration the opportunity to share again how far we have gone and our progress in steering our country along the critical path of socio-economic development.
“When we embarked on this journey, propelled by a burst of hope and abiding faith in Nigeria’s unity and progress, I made a pledge before God and fellow countrymen and women to confront Nigeria’s challenges head-on by rebuilding trust, fostering prosperity, and restoring our nation’s economic health.
“Today, I proudly affirm that our economic reforms are working. We are on course to building a greater, more economically stable nation,” said Tinubu.
He explained that under the Renewed Hope Agenda, his administration remained open about its drive to tackle economic instability, improve security nationwide, reduce corruption, reform governance, and lift our people out of poverty.
“We have remained honest by acknowledging some of the difficulties experienced by our compatriots and families.
“We do not take your patience for granted. I must restate that the only alternative to the reforms our administration initiated was a fiscal crisis that would have bred runaway inflation, external debt default, crippling fuel shortages, a plunging Naira, and an economy in a free-fall,” he said.
Tinubu detailed key indicators showing that inflation is easing, oil investments are up, and fiscal performance is stronger than at any point in recent memory.
The President acknowledged that, although living-cost pressures persist, the economy is showing clear improvement.
He noted that inflation is easing as prices of rice and other basic foods fall. According to him, the oil-and-gas sector has rebounded, with rig activity more than quadruple its 2021 level and fresh investments exceeding $8bn.
He argued that these gains have stabilised the economy, leaving it better placed for future growth and more resilient to external shocks.
