President Bola Tinubu has appealed to Nigerians to remain hopeful amid ongoing economic reforms, insisting that the sacrifices made by citizens over the past three years are beginning to yield positive results.
In a statement released to mark his May 29, 2026 anniversary in office, Tinubu reflected on the economic and security challenges his administration inherited in 2023, including fuel subsidy pressure, forex instability, rising debt servicing costs, insecurity, and declining investor confidence.
According to the President, the government was spending about N18.4 billion daily on fuel subsidy at the time, while inefficiencies in the foreign exchange system allegedly cost the country more than ₦8 trillion within three years.
Defending his administration’s reforms, Tinubu said the difficult decisions were necessary to prevent the country from sliding into deeper economic crisis.
He stated that failure to implement the reforms would have resulted in “fiscal breakdown, worsening poverty, and severe economic uncertainty,” stressing that his government chose “reform over ruin.”
Acknowledging the economic hardship experienced by Nigerians, the President admitted that the reforms came with painful consequences for households and businesses.
“These decisions came with sacrifice,” he said.
He, however, assured Nigerians that the situation is gradually improving.
“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 several achievements recorded by his administration, including improvements in public finances, increased allocations to states, expansion of infrastructure projects, and renewed investments in the oil sector.
According to him, over 2,700 kilometres of roads are currently under construction across the country, while progress is also being made in local refining and energy development.
Speaking on the power sector, the President said reforms are ongoing to address long-standing debt and infrastructure challenges, adding that improved electricity supply would support industrial growth and job creation.
In the education and welfare sectors, Tinubu disclosed that N282 billion has been disbursed through the student loan scheme to about 1.5 million students nationwide.
He also revealed that more than 10,000 housing units have been delivered across Nigeria as part of the government’s housing initiatives.
On insecurity, the President said security agencies are continuing operations against insurgents, bandits, and criminal networks in different parts of the country.
He urged Nigerians to remain united and patient despite the challenges facing the nation.
“We must choose hope over despair, unity over division, and nation-building over narrow interests,” he said.
Tinubu added that national progress requires collective sacrifice, resilience, and long-term commitment from both the government and citizens.
