President Bola Tinubu has assured Nigerians that the economic hardship experienced over the past three years was necessary to prevent a deeper national crisis and lay the foundation for long-term growth.
In a statement marking the third anniversary of his administration, Tinubu acknowledged the difficulties faced by citizens but insisted that the reforms undertaken by his government were beginning to yield results.
“I remain deeply conscious of those sacrifices, and I assure you: your sacrifices have not been in vain,” the president said.
Tinubu noted that when he assumed office in May 2023, Nigeria was grappling with rising debt, fuel subsidy costs, foreign exchange distortions, insecurity and declining public confidence in institutions.
According to him, the country was spending about ₦18.4 billion daily on fuel subsidies, while multiple exchange rates encouraged corruption and speculative practices that cost the nation trillions of naira.
“Together, we chose reform over ruin and decisiveness over hesitation. We chose long-term national recovery over short-term comfort,” he stated.
The president admitted that the reforms triggered a sharp rise in living costs, placing significant pressure on families, workers and businesses across the country.
Despite the challenges, Tinubu maintained that Nigeria’s economy has stabilised and is now on a path toward sustainable growth.
He highlighted ongoing road projects, increased investments in the oil and gas sector, improved local refining capacity, power sector reforms, student loan disbursements and housing initiatives as evidence of progress.
Tinubu also assured Nigerians that security remains a top priority, saying security agencies have intensified operations against terrorists, bandits, kidnappers and other criminal groups.
While admitting that many challenges still remain, the president urged citizens not to lose hope.
“We must choose hope over despair, unity over division, and nation-building over narrow interests,” he said.
He added that Nigeria’s history shows that great nations are built through sacrifice, resilience and collective effort, expressing confidence that brighter days lie ahead.
Source : Statement by President Bola Tinubu marking his administration’s third anniversary.
