Tinubu urges unity, lists economic gains as administration marks three years

President Bola Tinubu has called on Nigerians to unite behind his administration and support ongoing reforms, rejecting cynicism and divisions as the country marks three years of his leadership.

In a national address, Tinubu said Nigeria’s economy is now more competitive than it was in May 2023. He highlighted stronger public finances, rising investor confidence, and a booming stock market as evidence of progress.

“The stock market is booming. The All Share Index rose from 53,000 and market capitalisation of N30 trillion in 2023 to a record 250,000 and market capitalisation of N160 trillion this year,” Tinubu said.

He also pointed to major infrastructure expansion, including over 2,700 kilometres of highways and major roads under construction. Projects such as the Lagos-Calabar Coastal Highway, Sokoto-Badagry Super Highway, and Abuja-Kaduna-Zaria-Kano Road are advancing. Tinubu said completed sections have improved transportation, reduced travel time, and created thousands of jobs.

In the oil and gas sector, the president said reforms have attracted billions of dollars in fresh investment from international oil companies. He cited the $5 billion NLNG Train 7 project, which is nearing completion, and noted that domestic gas utilisation and local refining capacity have improved energy security.

“Nigeria is reducing its dependence on imported petroleum products and conserving foreign exchange,” he said.

On power, Tinubu said his administration is clearing legacy debts, expanding transmission infrastructure, investing in renewable energy, and strengthening the national grid. “No modern economy can grow in darkness. When power improves, businesses expand, industries grow, jobs are created,” he added.

The president acknowledged the sacrifices Nigerians have made during the reform process. He said the economy faced mounting fiscal pressures, unsustainable fuel subsidies, exchange-rate distortions, and rising debt-servicing costs when he took office.

“At the height of the subsidy regime, Nigeria was spending as much as N18.4 billion daily to sustain petrol subsidies. Multiple exchange rate windows and forex arbitrage created massive distortions, with Nigeria losing more than N8 trillion over three years to rent-seeking,” Tinubu said.

He defended the tough decisions, saying: “We chose reform over ruin and decisiveness over hesitation. We chose long-term national recovery over short-term comfort.”

On security, Tinubu said the armed forces have intensified operations against terrorists, bandits, kidnappers, and oil thieves. He assured that the government will not relent until every Nigerian can live, work, and travel in safety.

“We continue investing in intelligence, surveillance, logistics, and inter-agency coordination. Progress is being made,” he said.

Tinubu urged Nigerians to join him in moving the nation forward, united in purpose and confident in the greatness ahead.