President Bola Ahmed Tinubu said on 29 May 2026 that Nigeria has stabilised and is moving forward again, three years after his administration assumed office amid severe economic and structural challenges.
In a nationwide anniversary broadcast, the President said difficult decisions, including fuel subsidy removal and exchange rate reforms, were necessary to prevent fiscal collapse.
He noted that Nigeria was spending up to ₦18.4 billion daily on petrol subsidies in 2022, amounting to over ₦4 trillion that year, while multiple exchange rate windows cost the country more than ₦8 trillion over three years to rent-seeking.
“Had we refused to act, our nation would have drifted toward fiscal breakdown, worsening poverty, and severe economic uncertainty. Together, we chose reform over ruin,” Tinubu said. He acknowledged the sacrifices Nigerians made due to higher cost of living, but insisted the gains are now visible.
Economy and Investment
Tinubu said public finances are improving and states have more resources. Investor confidence is rising, with the stock market’s All Share Index climbing from 53,000 and market capitalisation of ₦30 trillion in 2023 to 250,000 and ₦160 trillion this year. Companies are also declaring record profits and dividends.
Infrastructure
The President highlighted over 2,700km of highways and roads under construction, including the Lagos-Calabar Coastal Highway, Sokoto-Badagry Super Highway, and Abuja-Kaduna-Zaria-Kano Road. Rail modernisation projects are also ongoing. In energy, he said reforms have attracted billions in fresh oil and gas investment, the $5 billion NLNG Train 7 is nearing completion, and domestic refining capacity has reduced dependence on imported fuel. The government is clearing legacy debts in the power sector and expanding transmission and renewable energy.
Social Programmes
On agriculture, Tinubu said interventions have supported millions of farmers with improved inputs, mechanisation, and finance. The Nigerian Education Loan Fund has disbursed over ₦282 billion to more than 1.5 million students. The Renewed Hope Housing Programme and FHA are delivering 10,000 housing units across 14 states and the FCT, creating 300,000 jobs. Consumer credit through CREDICORP and expansion of health insurance coverage are also progressing.
Security and Unity
The President said security agencies have intensified operations against terrorists, bandits, kidnappers, and oil thieves, making many communities and highways safer. He stressed that security remains central to national progress.
Tinubu called for unity, urging Nigerians to choose hope over despair and nation-building over narrow interests. “Nigeria belongs to all of us—no region, faith, or group should feel marginalised,” he said.
He concluded: “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.”
