Our Economic Reforms Are Working

President Bola Tinubu has told Nigerians that his economic reforms are working.

According to him, the reforms he embarked upon since assuming office on May 29, 2023, are working and yielding the expected results and that the worst days are already behind the country.

In his 2nd year anniversary statement, the President dismissed recent concerns over fluctuating crude oil prices, which recently hit $58/barrel, despite a $75/barrel budget benchmark, pointing out that Nigeria’s fiscal targets for 2025 remain on track.

“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. It was apparent that if the federal government and the other two tiers of government must remain viable and cater to the citizens’ welfare, we 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.

While our administration has implemented the reforms to restore and reinvigorate our national 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.

We are halfway through the journey that began 24 months ago. 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.”