President Bola Ahmed Tinubu has reiterated his administration’s commitment to difficult but necessary economic reforms aimed at securing long-term growth and stability, acknowledging the economic hardship many Nigerians are currently facing.
Speaking before a joint session of the National Assembly during the 2025 Democracy Day address, President Tinubu said the government is laying the foundation for a stronger and more resilient economy through bold policy changes, including fuel subsidy removal and exchange rate unification.
“Our economy has started responding to the reforms. There is increased inflow of foreign direct investments. Inflation is declining.
“The exchange rate is stabilising,” Tinubu said.
He urged Nigerians to remain patient, assuring that the current sacrifices will lead to sustainable economic growth and job creation.
The President highlighted the administration’s efforts to promote digital economy initiatives, attract investments, and reduce the cost of governance.
“We are opening doors to real investments, not rent-seeking.
“Our digital economy is growing, creating jobs and providing support for young entrepreneurs,” he said.
Tinubu also mentioned the increased revenue allocations to states and local governments, intended to improve public services and economic development at the grassroots level.
While noting that the economic reforms have not been without pain, Tinubu emphasized that short-term discomfort is essential to avoid long-term collapse.
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“Democracy is neither a foreign nor abstract concept. It is about the rule of law and a better life for the people. We are building an economy that will bring prosperity to all.”
Economic experts have reacted cautiously, saying while the reforms are structurally sound, their success depends on transparency, effective implementation, and social support for the most vulnerable Nigerians.
As inflation and the cost of living continue to strain households, citizens and observers alike are closely watching the Tinubu administration for tangible improvements in the months ahead.
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