President Bola Tinubu says his government’s tough reforms prevented Nigeria from economic collapse, external debt default, and soaring inflation. In his second-year anniversary address, Tinubu defended fuel subsidy removal and forex unification, noting improvements in revenue, foreign reserves, and tax reform. “The only alternative… was a fiscal crisis,” he said.
President Bola Tinubu says his administration’s reforms saved Nigeria from an economic crisis marked by inflation, fuel shortages, and debt default. Speaking on his second anniversary in office, Tinubu acknowledged public hardship but insisted the policies were necessary to stop a looming fiscal collapse.
“We do not take your patience for granted. I must restate that the only alternative… was a fiscal crisis that would have bred runaway inflation, external debt default, crippling fuel shortages, a plunging Naira, and an economy in a free-fall,” he said.
Tinubu cited economic recovery indicators including a 3.4% GDP growth in 2024, reduced fiscal deficit, and growing external reserves.
He highlighted tax reforms, expanded health coverage, improved national security, youth empowerment, and investments in energy and agriculture. “Despite the bump in the cost of living, we have made undeniable progress,” he added.
Tinubu praised citizens’ resilience and promised that better days lie ahead, reaffirming commitment to inclusive growth under the Renewed Hope Agenda.
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