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As President Bola Tinubu marked the second anniversary of his administration on May 29, 2025, he used the occasion to highlight major reforms, economic progress, and the vision guiding the “Renewed Hope Agenda.” His address acknowledged challenges but projected confidence in Nigeria’s trajectory under his leadership. Here are seven crucial things he said:
  • Fuel Subsidy and Forex Reforms Were Necessary Sacrifices
    Tinubu reiterated that removing the fuel subsidy and unifying exchange rates were tough but essential decisions to save Nigeria from economic collapse. He described these steps as a redirection away from "a chokehold on the nation’s neck."
  • Inflation Is Easing, and Revenue Is Growing
    He said inflation is slowing, and food staples like rice are becoming more affordable. In Q1 2025 alone, over ₦6 trillion in revenue was recorded. The fiscal deficit dropped significantly, from 5.4% of GDP in 2023 to 3.0% in 2024.
  • Debt Is More Sustainable and Reserves Are Up
    Nigeria’s debt service-to-revenue ratio dropped to under 40% by 2024, while net external reserves rose from $4 billion in 2023 to over $23 billion in 2024. The government also ended Ways and Means financing.
  • A Bold Tax Reform Agenda Is Underway
    Tinubu touted tax-to-GDP growth from 10% to 13.5% in one year. His administration is eliminating multiple taxation and exempting essentials, like food, rent, transport, and education, from VAT. A Tax Ombudsman is being created for small business protection.
  • Security Efforts Are Producing Results
    The President noted that increased security operations have restored safety to previously bandit-dominated regions. He praised the armed forces and promised continued efforts to make all Nigerians feel secure.
  • Human Capital and Health Sector Revamp
    Over 6,500 Primary Health Centres are being revitalised. Free dialysis and C-sections are now available in select hospitals. Health insurance coverage has grown from 16 million to 20 million people.
  • Youth Empowerment Through Innovation and Skills
    Through NASENI, Tinubu's government is training drone engineers, assembling electric vehicles, and launching projects like Innovate Naija. He emphasized empowering youth through jobs, skills, and tech-driven development.

President Tinubu’s address aimed to reassure Nigerians that despite ongoing hardships, his administration is taking decisive action to rebuild the economy, strengthen institutions, and secure the future. As he put it, "We are creating a system where prosperity is shared, and no one is left behind."