May 29 (THEWILL) — President Bola Tinubu on Friday declared that his administration would not relent until every Nigerian can “live, work, travel, and dream in safety”
He also presented a comprehensive scorecard marking the third anniversary of his government, highlighting sweeping reforms, economic stabilisation efforts, and expanding infrastructure across key sectors of the country.
In a nationwide address to mark May 29, 2026, the President said his administration inherited a nation grappling with deep structural and economic challenges, but insisted that bold policy decisions taken over the past three years have begun to stabilise the economy and restore confidence in Nigeria’s future.
He however noted that the journey, though painful, was unavoidable.
“Three years ago, you entrusted me with the sacred responsibility of leading our beloved nation at a defining moment in our history. I accepted that responsibility, fully aware of the magnitude of the challenges before us, but also deeply confident in the resilience and potential of the Nigerian people,” Tinubu said.
The President further noted that Nigerians had endured difficult sacrifices, particularly following reforms that removed long-standing distortions in fuel subsidy and foreign exchange regimes, stressing that such measures were necessary to prevent deeper fiscal collapse.
At the heart of his address, President Tinubu gave a firm assurance on national security, saying: “This government will not relent until every Nigerian can live, travel, and dream in safety.”
Tinubu said his administration met an economy under severe strain, driven by mounting fiscal pressures, unsustainable fuel subsidies, exchange-rate distortions, rising debt servicing costs, insecurity, and declining public confidence in institutions.
He disclosed that at the peak of the subsidy regime, Nigeria was spending as much as ₦18.4 billion daily to sustain petrol subsidies, amounting to over ₦4 trillion in 2022 alone, resources he said could have been channelled into infrastructure, healthcare, education, and housing.
He also highlighted the impact of multiple exchange-rate windows, noting that arbitrage and speculative trading resulted in losses exceeding ₦8 trillion over three years.
According to him, the difficult choices made by his administration were guided by necessity rather than convenience.
“The situation demanded urgent and courageous action. Difficult but necessary decisions had to be taken to stabilise the economy and prevent a deeper national crisis,” he said, adding that Nigeria would have faced fiscal breakdown and deeper poverty if reforms had been delayed.
The President acknowledged the hardship triggered by reforms, including rising cost of living, transport pressures, and business constraints, but maintained that the sacrifices were beginning to yield results.
“I remain deeply conscious of those sacrifices, and I assure you: your sacrifice has not been in vain,” he said.
Tinubu said Nigeria was now stabilised and gradually moving forward, with visible improvements across major sectors of the economy.
He said Nigeria’s economy was now more competitive and better positioned for sustainable growth compared to 2023, noting improvements in public finances and increased fiscal capacity at state and local government levels.
Tinubu also pointed to strong performance in the capital market, stating that the Nigerian Exchange All Share Index rose from about 53,000 points in 2023 to 250,000 points in 2026, while market capitalisation grew from ₦30 trillion to ₦160 trillion.
According to him, the growth reflected rising investor confidence and improved corporate performance, with several companies recording stronger profits and dividend payouts.
Tinubu said over 2,700 kilometres of highways and major roads were currently under construction, rehabilitation, or completion across Nigeria, including the Lagos–Calabar Coastal Highway, Sokoto–Badagry Super Highway, Abuja–Kaduna–Zaria–Kano Road, the East–West Road, and numerous rural access roads.
He said these projects were already improving connectivity, reducing travel time, boosting regional trade, and creating thousands of jobs.
Rail modernisation projects, he added, were ongoing to strengthen logistics networks and promote economic integration across the federation.
On the oil and gas sector, the President said reforms introduced by his administration had attracted billions of dollars in fresh investments from international oil companies, including the $5 billion NLNG Train 7 project, which he said was nearing completion and would significantly boost Nigeria’s liquefied natural gas production and export capacity.
He added that domestic gas utilisation was expanding, while local and modular refineries were reducing Nigeria’s dependence on imported petroleum products and conserving foreign exchange.
Tinubu described the power sector as a long-standing structural challenge but said his administration was actively addressing it through transmission expansion, grid stabilisation, and renewable energy investments, stressing that “no modern economy can grow in darkness.”
He said improved electricity supply would drive industrial growth, job creation, and improved productivity across all sectors.
The President said agricultural interventions had supported millions of farmers through improved seedlings, fertilisers, mechanisation, irrigation, and financing, while new agricultural corridors were being developed to strengthen food production and supply chains.
On education, he said the Nigerian Education Loan Fund had supported over 1.5 million students, with more than ₦282 billion disbursed to ensure access to tertiary education for deserving Nigerians.
In housing, Tinubu said the Renewed Hope Housing Programme and Federal Housing Authority projects were delivering over 10,000 housing units across 14 states and the Federal Capital Territory, creating more than 300,000 jobs.
He added that major housing cities in Abuja, Lagos, and Kano were progressing steadily.
The President also highlighted the consumer credit initiative, CREDICORP, as part of efforts to expand household purchasing power and stimulate economic activity.
Tinubu said thousands of primary healthcare centres were being revitalised nationwide, while health insurance coverage was expanding to protect vulnerable Nigerians.
On telecommunications, he said decisive interventions had stabilised the sector after years of declining investment, noting that operators were now expanding infrastructure, improving coverage, and recruiting Nigerian talent across the digital economy.
“A connected Nigeria is a more competitive Nigeria,” he said.
Tinubu described Nigerian youths as the driving force of the nation’s future, stressing that government policies were focused on expanding opportunities in technology, agriculture, manufacturing, sports, and creative industries.
“To our young people, this nation believes in you. You are not a problem to be managed. You are the engine of Nigeria’s future,” he said.
On security, Tinubu said the Armed Forces and security agencies had intensified operations against terrorists, bandits, kidnappers, oil thieves, and criminal networks across the country. He said while challenges persist, progress was being made in reclaiming communities and highways previously affected by insecurity.
The President reaffirmed increased investment in intelligence gathering, surveillance systems, logistics, and inter-agency coordination, repeating: “This government will not relent until every Nigerian can live, work, travel, and dream in safety.”
Tinubu urged Nigerians to remain united, disciplined, and hopeful, stressing that national development requires collective effort and shared sacrifice.
He said Nigeria’s diversity remained a source of strength and must be harnessed for progress.
The President added that although the nation is not yet where it should be, the foundations for recovery have been laid across key sectors.
“We have not solved every problem, and we are not yet where we want to be. But the foundation for recovery has been laid,” he said.
He concluded by expressing optimism that Nigeria would emerge stronger, more stable, and more prosperous, calling on citizens to remain committed to the national reform journey.
“May God bless you all. May God bless the Federal Republic of Nigeria,” he said.
Felix Ifijeh is a journalist with years of professional reporting experience. Known for his keen news sense, compelling storytelling and commitment to accurate, impactful reporting, he has built a reputation for turning leads into clear, engaging, and well-structured reports that resonate with readers. His work reflects deep newsroom experience and a commitment to accurate, impactful journalism.
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