Tinubu @3: ‘Your Sacrifices Not in Vain,’ President Tells Nigerians
President Bola Ahmed Tinubu on Friday assured Nigerians that the economic hardships occasioned by his administration’s reforms were beginning to yield results, declaring that the sacrifices made by citizens over the past three years “have not been in vain.”
In a nationwide broadcast to mark the third anniversary of his administration, Tinubu acknowledged the severe burden placed on households, workers, and businesses following major policy decisions, including the removal of petrol subsidy and foreign exchange reforms, but insisted the measures were necessary to prevent economic collapse.
“I remain deeply conscious of those sacrifices, and I assure you: your sacrifice has not been in vain. And today, I can say with confidence that Nigeria has stabilised and is moving forward again,” the President said.
Tinubu said his administration inherited deep economic and structural challenges in 2023, including mounting fiscal pressures, unsustainable fuel subsidies, declining revenues, exchange rate distortions, rising debt servicing costs, insecurity, and dwindling public confidence in institutions.
According to him, the country was spending as much as ₦18.4 billion daily on petrol subsidy at its peak, amounting to over ₦4 trillion in 2022 alone, while multiple foreign exchange windows created distortions that led to over ₦8 trillion in losses through arbitrage and speculative practices.
“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.
Defending the administration’s reform agenda, Tinubu argued that refusing to act would have pushed Nigeria toward fiscal breakdown, worsening poverty, and prolonged economic uncertainty.
“Together, we chose reform over ruin and decisiveness over hesitation. We chose long-term national recovery over short-term comfort,” he added.
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The President, however, admitted that the reforms triggered a sharp rise in the cost of living, placing enormous pressure on Nigerians, particularly young people seeking employment and businesses struggling to stay afloat.
Despite the hardship, Tinubu said signs of recovery were emerging, citing improved public finances, growing investor confidence, and expansion in infrastructure development across the country.
He noted that the stock market had recorded significant growth, with market capitalisation rising from about ₦30 trillion in 2023 to ₦160 trillion in 2026, while major road projects, including the Lagos-Calabar Coastal Highway, Sokoto-Badagry Super Highway, Abuja-Kaduna-Zaria-Kano Road, and East-West Road, were progressing nationwide.
Tinubu also pointed to gains in the oil and gas sector, saying reforms had attracted fresh investments and strengthened local refining capacity, reducing dependence on imported petroleum products.
On social interventions, the President disclosed that over 1.5 million students had accessed higher education funding through the Nigerian Education Loan Fund, while over 10,000 housing units were under development across 14 states and the Federal Capital Territory under the Renewed Hope Housing Programme.
In the area of security, Tinubu said military and security agencies had intensified operations against terrorists, kidnappers, bandits, and oil thieves, with more communities and highways gradually becoming safer.
“While challenges remain, progress is being made. I want to assure you that this government will not relent until every Nigerian can live, work, travel, and dream in safety,” he said.
The President urged Nigerians not to lose hope, stressing that nation-building requires sacrifice, resilience, and collective commitment.
“We have not solved every problem, and we are not yet where we want to be. But the foundation for recovery has been laid,” Tinubu stated.
He further called for unity and national cohesion, assuring citizens that no region, religion, or group would be marginalised under his administration.
“Nigeria belongs to all of us—no region, faith, or group should feel marginalised or forgotten. We rise or fall together as one nation under God,” he added.
By PRNigeria
