Tinubu Marks Second-Term Anniversary, Reaffirms Commitment to Economic Reforms and National Renewal

President Bola Ahmed Tinubu, in a national broadcast to commemorate the second anniversary of his administration, reaffirmed his administration’s commitment to economic reform, security, and inclusive development, stating that Nigeria is on a path to recovery and long-term growth.

Speaking from the Aso Rock Presidential Villa, Tinubu acknowledged the resilience of Nigerians in the face of challenging reforms, particularly the removal of fuel subsidies and the unification of exchange rates, which he described as necessary to prevent national economic collapse. He praised citizens for their enduring support and noted that the country had avoided a full-blown fiscal crisis.

“We are halfway through a journey that began 24 months ago,” Tinubu said. “Today, I proudly affirm that our economic reforms are working. Inflation is easing, revenue is rising, and investor confidence is returning.”

Highlighting fiscal progress, he revealed that Nigeria’s revenue exceeded N6 trillion in the first quarter of 2025, while the fiscal deficit dropped significantly from 5.4% of GDP in 2023 to 3.0% in 2024. The President also announced the cessation of Ways and Means financing and lauded improvements in oil sector output and investment.

President Tinubu pointed to landmark tax reforms as a major success of his administration, noting that Nigeria’s tax-to-GDP ratio had jumped from 10% to 13.5% in one year. He stressed that the reforms were designed to ease burdens on low-income earners and small businesses, protect essential goods and services from VAT, and promote economic fairness.

“Our tax system is now more growth-oriented and equitable,” he said. “We’ve ended opaque waivers and focused incentives on sectors like manufacturing, tech, and agriculture.”

On security, Tinubu reaffirmed his administration’s resolve to tackle insecurity through improved coordination among security agencies, intelligence-led operations, and support for the armed forces. He commended the military’s efforts in reclaiming areas previously held by criminal elements and pledged continuous vigilance.

In the healthcare sector, he announced the revitalisation of over 1,000 Primary Health Centres, plans to upgrade an additional 5,500 facilities, the expansion of insurance coverage to 20 million Nigerians, and improved access to life-saving services, including cancer treatment and dialysis.

The President also highlighted progress in agriculture, education, infrastructure, and youth empowerment through initiatives like Innovate Naija, the Student Loan Scheme, and the expansion of NASENI’s mandate. He cited improved power supply via solar investments and ongoing road construction projects across the country.

Looking ahead, Tinubu said Nigeria would soon host the Motherland Festival — a celebration of the country’s cultural wealth, designed to engage the diaspora and project Nigeria’s global leadership in creativity and innovation.

“The worst is behind us,” he declared. “Together, we are building a stronger, more inclusive Nigeria for today and for generations yet unborn.”