Tinubu’s Full Speech at Third Anniversary: “Nigeria Is Recovering, Your Sacrifices Are Not in Vain”

President Bola Ahmed Tinubu has assured Nigerians that the country is gradually overcoming its economic and structural challenges, declaring that the difficult reforms introduced by his administration are beginning to produce visible results across key sectors of the economy.

Tinubu made the remarks in a nationwide address commemorating the third anniversary of his administration, where he acknowledged the sacrifices Nigerians have endured since he assumed office in 2023.

Reflecting on the state of the nation when he took over leadership, the President said Nigeria faced mounting fiscal pressures, rising debt servicing costs, fuel subsidy burdens, insecurity, exchange-rate distortions, declining revenues, and weakening public confidence in government institutions.

According to him, the administration had to make “difficult but necessary” decisions to prevent the country from sliding into deeper economic crisis.

“At the height of the subsidy regime, Nigeria was spending as much as ₦18.4 billion daily on petrol subsidies, with over ₦4 trillion spent in 2022 alone,” Tinubu stated.

He explained that multiple exchange-rate systems and forex arbitrage had also created serious economic distortions, leading to massive financial leakages and speculative practices.

The President defended the removal of fuel subsidies and other economic reforms, saying the choices were painful but essential to stabilise the economy and secure Nigeria’s future.

“The easy choices would have been politically convenient. But leadership demands courage, especially when the right decisions are difficult,” he said.

Tinubu acknowledged the hardship experienced by Nigerians due to the rising cost of living but insisted that the sacrifices were beginning to yield positive outcomes.

“I remain deeply conscious of those sacrifices, and I assure you: your sacrifice has not been in vain,” he said.

He noted that investor confidence is returning, while the Nigerian economy is becoming more competitive and better positioned for sustainable growth.

The President highlighted improvements in the stock market, saying market capitalisation had risen significantly under his administration, while companies were posting stronger profits and dividends.

On infrastructure, Tinubu disclosed that over 2,700 kilometres of roads and highways are currently under construction, reconstruction, or rehabilitation nationwide, including major projects such as the Lagos-Calabar Coastal Highway, Sokoto-Badagry Super Highway, East-West Road, and Abuja-Kaduna-Zaria-Kano Road.

He also pointed to ongoing rail modernisation projects aimed at improving connectivity and boosting economic activities across the country.

Speaking on the oil and gas sector, Tinubu said reforms introduced by his administration had attracted fresh investments from international oil companies, while domestic refining capacity was improving through operational modular and large-scale refineries.

He added that the country is reducing dependence on imported petroleum products and strengthening energy security.

The President also addressed challenges in the power sector, promising continued investments in electricity transmission, renewable energy, and national grid infrastructure.

“No modern economy can grow in darkness,” Tinubu said, while stressing that improved power supply would support industrial growth and job creation.

On agriculture, he stated that government interventions were supporting farmers through improved seedlings, fertilisers, mechanisation, irrigation, financing, and market access.

Tinubu further disclosed that the Nigerian Education Loan Fund had already supported over 1.5 million students with access to higher education, while housing programmes under the Renewed Hope initiative were delivering thousands of housing units across the country.

He also highlighted efforts to strengthen healthcare, digital infrastructure, telecommunications, and youth empowerment through investments in technology, innovation, enterprise support, and skills development.

Addressing security concerns, Tinubu said security agencies and the armed forces had intensified operations against terrorists, kidnappers, bandits, and criminal networks across the country.

While admitting that challenges remain, he assured Nigerians that government would continue investing in intelligence, surveillance, logistics, and technology to improve national security.

“We will not relent until every Nigerian can live, work, travel, and dream in safety,” he said.

The President called on Nigerians to remain united and hopeful despite current challenges, urging citizens to reject division and support the nation’s rebuilding process.

“We must choose hope over despair, unity over division, and nation-building over narrow interests,” Tinubu stated.

He further assured that his administration would continue working to reduce food prices, lower transportation costs through CNG and electric vehicle initiatives, create jobs, and expand economic opportunities for citizens.

Tinubu concluded by expressing confidence that Nigeria would emerge stronger, more prosperous, and more united despite present difficulties.

“History tests nations before it elevates them. Nigeria is passing through such a test. But I believe with all my heart that we shall emerge stronger, fairer, more united, and more prosperous than ever before,” the President declared.