Tinubu: Reforms Are Working, Nigeria Is on Path to Growth and Stability
By Kanempress
29th May 2025
As President Bola Ahmed Tinubu marked the second anniversary of his administration on Thursday, he delivered a bold and optimistic message to Nigerians: the toughest part of the journey is over, and the country is now on a steady path toward economic recovery and national renewal.
In a nationwide address, President Tinubu defended the sweeping reforms introduced since 2023, including the removal of petrol subsidies and the unification of exchange rates—moves he said were essential to avert a total economic collapse.
> “Our reforms are working. We have avoided fiscal disaster and are building a more stable and prosperous nation,” the President said.
Turning the Tide: From Crisis to Recovery
President Tinubu acknowledged the pain that accompanied these changes but pointed to signs of progress: inflation easing, the naira stabilizing, and food prices—like rice—beginning to fall. He highlighted a sharp rise in oil sector activity and over $8 billion in new investments, along with a major reduction in fiscal deficit and a surge in federal revenues.
He also announced that external reserves had soared from $4 billion to $23 billion, while debt servicing costs dropped dramatically—signals of renewed investor confidence.
> “We have restored fiscal discipline and stopped borrowing from the central bank,” Tinubu stated, noting the Nigerian National Petroleum Company (NNPC) is now contributing revenue instead of consuming it.
Boosting States and Tax Reforms
States across the country saw N6 trillion in revenue growth in 2024, empowering them to fund infrastructure and services. Meanwhile, the federal tax-to-GDP ratio rose to 13.5%, thanks to better tax collection and pro-growth policies.
To protect low-income Nigerians, the President announced 0% VAT on food, education, healthcare, rent, transport, and renewable energy. An independent Tax Ombudsman will also be introduced to ensure fairness in tax administration.
Youth, Jobs, Innovation & Industrial Growth
Tinubu emphasized a youth-driven industrial revolution, highlighting innovations from NASENI—such as electric vehicle plants, drone training for women, and diagnostic kit manufacturing.
> “This is the movement we promised—a government of action powered by young Nigerians,” he said.
He also unveiled a shift in the solid minerals sector, moving away from raw exports to value-added processing, opening up a new frontier for job creation and revenue.
Progress in Health, Education, and Security
The President reported that over 1,000 primary healthcare centres have been revitalized, with another 5,500 underway. He also highlighted expanded health insurance coverage and free dialysis and maternal care services.
In education, access to quality learning has improved with investments in infrastructure and a new student loan program for poor students.
On security, Tinubu praised military successes in the northwest, where many communities are now safe for farming and travel. He urged security agencies to intensify efforts against criminals.
Food, Power & Infrastructure for the Future
The government has rolled out large-scale farming support, including access to tractors and fertilisers. Infrastructure projects such as the Lagos-Calabar Coastal Highway and Abuja-Kaduna-Kano Road reflect a national development plan.
Efforts to improve electricity are underway, including solar energy for schools and hospitals.
Diaspora, Culture & Global Engagement
Tinubu unveiled plans for a diaspora bond and non-resident BVN to encourage overseas Nigerians to invest in the economy. He also announced the upcoming Motherland Festival, a major cultural showcase aimed at uniting Africans across the world.
A Message of Hope
President Tinubu ended his address by thanking Nigerians for their resilience and faith, assuring them that the foundation has been laid for a stronger, more inclusive future.
> “By the Grace of God, the worst is behind us. The future is bright. Together, we will build the Nigeria of our dreams.”
