Thursday, May 29, 2025 - President Bola Tinubu has maintained that the economic reforms he embarked upon since assuming office on May 29, 2023, are working and yielding the expected results and that the worst days are already behind the country.
In his 2nd year anniversary statement, the President
dismissed recent concerns over fluctuating crude oil prices, which recently hit
$58/barrel, despite a $75/barrel budget benchmark, pointing out that Nigeria’s
fiscal targets for 2025 remain on track.
‘’ Two years
ago, you entrusted me with the sacred responsibility to lead our nation at a
time of historic challenges. Together, we have faced these headwinds with
courage and determination.
The economic
and general situation of the country I inherited required that we redirect the
country's affairs with a bold and new vision. I immediately implemented two
necessary policies to stop our country from further drifting into the
precipice. It was apparent that if the federal government and the other two
tiers of government must remain viable and cater to the citizens' welfare, we
must do away with decades-long fuel subsidies and the corruption-ridden
multiple foreign exchange windows. The two were no longer sustainable and have
become a chokehold on our nation's neck, strangling our nation's future.
While our
administration has implemented the reforms to restore and reinvigorate our
national economy and strengthen our social fabric as a strong and united
country, I must thank my fellow citizens for your unrelenting support and
belief in the grand vision we share to uplift our nation and renew our
collective hopes and aspirations.
We are
halfway through the journey that began 24 months ago. Today, May 29, 2025,
offers our administration the opportunity to share again how far we have gone
and our progress in steering our country along the critical path of
socio-economic development.
When we
embarked on this journey, propelled by a burst of hope and abiding faith in
Nigeria's unity and progress, I made a pledge before God and fellow countrymen
and women to confront Nigeria's challenges head-on by rebuilding trust,
fostering prosperity, and restoring our nation's economic health. Today, I
proudly affirm that our economic reforms are working. We are on course to
building a greater, more economically stable nation.''
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