President Bola Ahmed Tinubu has promised to build a better country that all Nigerians at home and in the diaspora will be proud of.
He made the promise in his address marking the second year of his administration in office.
According to the President, “Our journey is not over, but our direction is clear. So is our resolve to tackle emerging challenges.
“By the Grace of God, we are confident that the worst is behind us,”
“The future is bright, and together, we will build a stronger, more inclusive Nigeria that we can all be proud of.”
In a statement released on Thursday,the President highlighted progress under his Renewed Hope Agenda, restating his commitment to economic reforms, national security, and inclusive development.
He asserted that his administration has made undeniable progress in the last two years, particularly in areas of economic reform, infrastructure development, and social investment.
According to Tinubu, Nigeria stood at a historic crossroads when he assumed office, grappling with economic hardship, systemic inefficiencies, and deep-rooted structural challenges. With a promise to confront these issues head-on, the President recalled the bold steps his government took in its early days.
“My administration began with two decisive actions — the removal of the decades-long fuel subsidy and the collapse of multiple, corruption-ridden foreign exchange windows. These were difficult but necessary choices to stop the country from sliding further into economic turmoil,” he said.
He warned that failure to act would have led to runaway inflation, debt default, and the collapse of essential public services. While acknowledging that the initial impact of reforms was tough, the President stressed that progress is now visible.
Economic Recovery and Fiscal Reforms
The President noted that inflation is easing, food prices are declining, and Nigeria has attracted over $8 billion in fresh oil and gas investment, with rig counts increasing by over 400% in 2025 compared to 2021.
He reported a significant improvement in Nigeria’s fiscal position, with the budget deficit shrinking from 5.4% of GDP in 2023 to 3.0% in 2024, driven by increased revenue and prudent spending. Government revenue hit ₦6 trillion in Q1 2025, while external reserves surged from $4 billion in 2023 to over $23 billion by the end of 2024.
A “silent revolution” is ongoing in Nigeria’s tax system. The President revealed that the tax-to-GDP ratio has increased from 10% to over 13.5%, following ambitious reforms. These include removing multiple taxation, cutting wasteful waivers, and exempting essential goods and services from VAT. A newly created Tax Ombudsman is also in place to ensure fairness and transparency.
“On human capital, the administration has revitalized or upgraded over 6,500 Primary Health Centres, commissioned cancer treatment centres, and made dialysis free or subsidized in some hospitals. Under the Presidential Maternal Health Initiative, more than 4,000 women have received free cesarean sections, while 20 million Nigerians are now covered under health insurance up from 16 million.
“On security, Tinubu praised the efforts of the military and intelligence services, whose joint operations have restored peace in previously troubled regions. He pledged that the government would never relent in its duty to protect Nigerians.
“Youth and education remain at the heart of the Renewed Hope Agenda. A student loan scheme now makes higher education more accessible, while agencies like NASENI are driving innovation through programs like Innovate Naija and NASCAV.
The president said the government has invested heavily in agriculture, with the distribution of tractors, farm tools, and fertilizers nationwide. This effort, Tinubu said, is aimed at achieving food security and lowering costs.
,”Major infrastructure projects are ongoing in all regions, including the Lagos-Calabar Coastal Highway, Second Niger Bridge access roads, and off-grid solar power projects.
The President also announced plans for the Motherland Festival, a cultural and economic showcase to reconnect with the Nigerian diaspora. Initiatives such as diaspora bonds and simplified banking procedures have been introduced to encourage diaspora investment
President Tinubu reaffirmed his commitment to Nigeria’s development:”Our direction is clear. Our resolve is firm. By the grace of God, the worst is behind us.
