President Tinubu Marks Third Anniversary, Says Reforms Working. President Tinubu on Friday, said Nigeria was spending 18.4billion daily to sustain fuel subsidy but now those resources have been channeled into critical sectors.
KaNo —
President Bola Tinubu on Friday clocked three years in office,assuring Nigerians that the sacrifices they have endured over three years of sweeping economic reforms have not been in vain.
Tinubu revealed this in his statement to mark his third year in office on May 29, 2026.
“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.
In the statement released on Thursday, Tinubu thanked Nigerians for bearing the cost of what he described as unavoidable structural adjustments.
President Tinubu Marks Third Anniversary, Says Reforms Working
While acknowledging the pressures of his reforms on families, workers and young people, the Nigeria leader insisted that the foundation for national recovery had been laid.
According to him, “When this administration assumed office, our nation faced profound economic and structural difficulties.
Speaking on fuel subsidy removal,he said billions have been wasted on the policy which should have been channeled into critical infrastructure, including healthcare facilities and education development.
“At the height of the subsidy regime, Nigeria was spending as much as N18.4bn daily to sustain petrol subsidies, over N4tn in 2022 alone, resources that could have been invested in roads, healthcare, education, housing, and critical infrastructure” he said
President Tinubu Marks Third Anniversary, Says Reforms Working
” Multiple exchange rate windows and forex arbitrage created massive distortions, with Nigeria losing more than N8tn over three years to rent-seeking and speculative practices.”he added
He argued that the administration’s decision to act swiftly on both fronts was a choice between national survival and politically convenient inaction.
“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.“The easy choices would have been politically convenient. But leadership demands courage, especially when the right decisions are difficult”he stated
He further noted that he chose reform over ruin, decisiveness over hesitation to ensure long term national recovery and prevent the nation from total fiscal breakdown.
President Tinubu Marks Third Anniversary, Says Reforms Working
“Had we refused to act, our nation would have drifted toward fiscal breakdown, worsening poverty, and severe economic uncertainty” he stated
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Acknowledging the heavy cost of the reforms on ordinary Nigerians, the President said, “These decisions came with sacrifice. The rising cost of living triggered by our measures placed enormous pressure on families, workers, and businesses
Tinubu disclosed that the Nigerian stock market had performed well under his administration.
He said the All Share Index had risen from 53,000 in 2023 to a record 250,000 in 2026, a nearly five-fold increase, while overall market capitalisation had surged from N30tn to N160tn.
President Tinubu Marks Third Anniversary, Says Reforms Working
“Public finances are improving. States and local governments have greater resources to invest in their people. Investor confidence is growing”
He added that the stock market is booming, with the All Share Index rising from 53,000 and market capitalisation of N30tn in 2023 to a record All Share Index of 250,000 and market capitalisation of N160tn this year. Companies are declaring record profits and dividends.
On infrastructure, Tinubu said the administration had more roads under construction, reconstruction or rehabilitation at any one time than any preceding administration.
He cited 2,700 kilometres of highways spanning five major corridors.
President Tinubu Marks Third Anniversary, Says Reforms Working
They include the Lagos-Calabar Coastal Highway, the Sokoto-Badagry Super Highway, the Abuja-Kaduna-Zaria-Kano Road, the East-West Road and numerous rural access roads.
“Critical infrastructure projects are advancing at an unprecedented scale. Over 2,700 kilometres of highways and major roads are under construction, reconstruction, or rehabilitation.” he explained
He added that significant sections are already completed or nearing completion to improve transportation, reducing travel time, boosting regional trade, and creating thousands of jobs.
“Rail modernisation projects are ongoing to improve connectivity, logistics, and economic integration across the federation.”he said
President Tinubu Marks Third Anniversary, Says Reforms Working
On education, the President said the Nigerian Education Loan Fund had reached 1.5 million beneficiaries, disbursing more than N282bn to students who would otherwise have been priced out of higher education.
According to him, “The Nigerian Education Loan Fund has provided over 1.5 million students with access to higher education, disbursing more than N282bn to ensure that no willing student is denied access due to financial hardship.”
On housing, the Renewed Hope Housing Programme and the Federal Housing Authority together,the President said we’re delivering over 10,000 housing units across 14 states and the FCT, with major cities being developed in Abuja, Lagos and Kano.
“Our Renewed Hope Housing Programme, along with that of the Federal Housing Authority, is delivering over 10,000 housing units across 14 states and the FCT, creating over 300,000 jobs and expanding access to affordable housing,” Tinubu explained
President Tinubu Marks Third Anniversary, Says Reforms Working
On security Tinubu who conceded that challenges remained, insisted that progress was being recorded in various parts of the country’s.
He argued, “Our Armed Forces and security agencies have intensified operations against terrorists, bandits, kidnappers, oil thieves, and criminal networks.
He noted that despite challenges, many communities and highways are becoming safer and more economically active.
President Tinubu Marks Third Anniversary, Says Reforms Working
Tinubu noted that his third anniversary in the office is not a celebration of completion but as a milestone on an unfinished journey.
According to him, “We have not solved every problem, and we are not yet where we want to be. But the foundation for recovery has been laid.
“The task before us now is clear: we must ensure that the benefits of reform are felt more directly in the daily lives of ordinary Nigerians.
He appealed for national cohesion and patience, drawing on the broader arc of Nigeria’s history.
President Tinubu Marks Third Anniversary, Says Reforms Working
According to him, “History teaches us that great nations are not built in comfort. They are built through sacrifice, resilience, courage, and collective purpose.“Ours is a nation of extraordinary people. We survived civil war and rebuilt. We overcame dictatorship and restored democracy” he stated
He added that Nigerians had endured hardship and remain bearers of hope.“Today, the world is watching our country again, not as a nation defined by its difficulties, but as a nation determined top rise” he concluded
