By Hadiza Abdulkadir
President Bola Ahmed Tinubu marked the second anniversary of his administration on Wednesday with an optimistic national address highlighting the government’s achievements and reaffirming commitment to economic reform, national security, and human capital development.
Speaking from the Aso Rock Presidential Villa, President Tinubu declared that his administration had made “undeniable progress” despite the sacrifices demanded of citizens, especially following the removal of fuel subsidies and the unification of foreign exchange rates.
“We are halfway through the journey that began 24 months ago. Today, I proudly affirm that our economic reforms are working,” he said, citing improvements such as easing inflation, increased foreign reserves, and higher state revenues.
According to the President, the federal government recorded over ₦6 trillion in revenue in Q1 2025 and successfully reduced the fiscal deficit from 5.4% of GDP in 2023 to 3.0% in 2024. Additionally, the country’s net external reserves rose sharply to over $23 billion by the end of 2024, a fivefold increase from the previous year.
In the energy sector, Tinubu noted a 400% increase in oil rig activity since 2021 and over $8 billion in new investments. “We have stabilised our economy and are now better positioned for growth and global shocks,” he added.
The President also highlighted reforms in taxation, infrastructure development, and the health sector. He announced the expansion of primary healthcare centres, the establishment of new cancer treatment centres, and a tax policy overhaul aimed at supporting low-income households and small businesses.
“Together, we are creating a system where prosperity is shared, and no one is left behind,” he said.