'YOU HAVE ENDURED HARDSHIP FOR THREE YEARS, KEEP HOPE ALIVE': TINUBU TELLS NIGERIANS

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BY JENN NOMAMIUKOR

President Bola Tinubu told people that the tough financial efforts made by Nigerians over the last three years have not gone to waste.

He shared this message in a statement to mark the third year of his time in office. The president reflected on the milestones recorded by his administration thus far and the challenges confronting the citizenry.

Tinubu took the oath of office on May 29, 2023, as Nigeria’s 16th president, succeeding former President Muhammadu Buhari.

The president said when he assumed office, he was fully aware of the magnitude of the country’s challenges, but remained deeply confident in the resilience and potential of its people.

“When this administration assumed office, our nation faced profound economic and structural difficulties,” he said.

“Mounting fiscal pressures, unsustainable fuel subsidies, declining revenues, exchange-rate distortions, rising debt-servicing costs, insecurity in several parts of the country, energy supply constraints, and declining public confidence in institutions all threatened our progress.”

He said Nigeria was spending N18.4 billion daily on petrol subsidies at the time, with over N4 trillion spent in 2022 alone.

“Multiple exchange rate windows and forex arbitrage created massive distortions, with Nigeria losing more than ₦8 trillion over three years to rent-seeking and speculative practices,” he said.

The president noted that the situation demanded urgent and courageous action, noting that if his administration had failed to act, the country “would have drifted toward fiscal breakdown, worsening poverty, and severe economic uncertainty”.

“Together, we chose reform over ruin and decisiveness over hesitation. We chose long-term national recovery over short-term comfort,” he said.

“These decisions came with sacrifice. The rising cost of living triggered by our measures placed enormous pressure on families, workers, and businesses.

“Young people searching for jobs felt discouraged. Many questioned whether these difficult decisions would lead to a better future.

“I remain deeply conscious of those sacrifices, and I assure you: your sacrifices have not been in vain. And today, I can say with confidence that Nigeria has stabilised and is moving forward again. Across the country, visible progress is taking shape.”

The president said the economy is now more competitive and better positioned for sustainable growth than it was in 2023.

“Public finances are improving. States and local governments have greater resources to invest in their people,” he said.

“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 noted that reforms in the oil and gas sector have attracted billions of dollars in fresh investments from international oil companies that previously shunned the country.

“The $5 billion NLNG Train 7 project is nearing completion to boost LNG production capacity, exports, and dividends,” he said.

“Domestic gas utilisation is expanding. Local refining capacity has improved our energy security.

“With large-scale domestic and modular refineries operational, Nigeria is reducing its dependence on imported petroleum products and conserving foreign exchange.”

Tinubu said the country’s power sector had for years suffered from debt, underinvestment, and uncertainty, weakening generation capacity and limiting growth.

But today, he said his administration has confronted the challenges directly by clearing legacy obligations, expanding transmission infrastructure, investing in renewable energy, and strengthening the national grid.

“When power improves, businesses expand, industries grow, jobs are created, and families prosper,” Tinubu said.

“We are determined to power Nigeria into a new era of industrial growth and economic opportunity.”

The president also highlighted his administration’s achievements in the agriculture and education sectors, citing the N282 billion loans disbursed by the Nigeria Education Loan Fund (NELFUND) to 1.5 million students.

He noted that under his administration’s Renewed Hope housing programme, over 10,000 units have been delivered across 14 states, including the Federal Capital Territory (FCT).

“In healthcare, thousands of primary healthcare centres are being revitalised, while health insurance coverage is expanding for vulnerable Nigerians,” he added.

The president maintained that knowing the critical role young people play in nation-building, his government is “investing in digital skills, technical education, innovation, student financing, and enterprise support because the future must be driven by Nigerian talent, creativity, and productivity”.

Tinubu said security remains central to his administration’s national mission and the creation of a prosperous society.

“Our Armed Forces and security agencies have intensified operations against terrorists, bandits, kidnappers, oil thieves, and criminal networks,” he said.

“While we continue to confront the challenges head-on, progress is being made. I want to assure you that this government will not relent until every Nigerian can live, work, travel, and dream in safety.”

The president admitted that not every problem has been solved, but said the foundation for recovery has been laid.

“The journey of national renewal is not completed in a single year or a single administration’s tenure,” he said.

“Nations rise when their people remain united in purpose, disciplined in effort, and hopeful about the future.

“We must choose hope over despair, unity over division, and nation-building over narrow interests.

“To our youth, workers, entrepreneurs, farmers, professionals, security personnel, students, and diaspora: your sacrifices sustain our nation, and they will not be in vain.”

Tinubu said history teaches that great nations are not built in comfort.

“They are built through sacrifice, resilience, courage, and collective purpose,” he said.

“Ours is a nation of extraordinary people. We survived the civil war and rebuilt.

“We overcame dictatorship and restored democracy. We endured hardship and remain bearers of hope. The Nigerian spirit remains strong and unbroken.”

He added that although the task ahead remains enormous, he is optimistic because he believes deeply in Nigeria and its people.