President Tinubu Marks Two Years in Office, Highlights Economic Reforms Amid Ongoing Challenges
On May 29, 2025, President Bola Ahmed Tinubu addressed the nation to commemorate his administration’s second anniversary. He emphasized significant economic reforms aimed at stabilizing Nigeria’s economy and setting the foundation for sustainable growth.
Economic Reforms and Fiscal Stability
President Tinubu highlighted the reduction of Nigeria’s fiscal deficit from 5.4% of GDP in 2023 to 3.0% in 2024, attributing this improvement to the elimination of fuel and electricity subsidies and the devaluation of the naira. These measures, while contributing to a severe cost-of-living crisis and inflation exceeding 23%, were deemed necessary to prevent a deeper fiscal crisis.
The President also noted a resurgence in the oil and gas sector, with rig counts increasing by over 400% compared to 2021 and over $8 billion in new investments committed.
Infrastructure Development
In his speech, President Tinubu underscored ongoing infrastructure projects, including the Lagos-Calabar Coastal Highway and the Fourth Mainland Bridge, aimed at enhancing transportation and boosting economic activities across the country.
Security and Social Programs
Addressing security concerns, President Tinubu claimed improvements in reducing banditry and restoring agricultural activities. However, reports indicate that violence and kidnappings persist, with Amnesty International reporting over 10,000 deaths since he took office.
On social programs, the administration launched a feeding program targeting 20 million out-of-school children, aiming to improve school enrollment and nutrition.
Political Outlook
The ruling All Progressives Congress (APC) has endorsed President Tinubu for a second term in the 2027 elections, praising his economic reforms and efforts to revitalize Nigeria’s economy.
While President Tinubu’s administration has made strides in economic reforms and infrastructure development, challenges such as high inflation and security concerns remain. As Nigeria approaches the 2027 elections, the effectiveness of these reforms and their impact on the populace will be critical factors in shaping the country’s future.
President Tinubu’s Two-Year Milestone: Economic Reforms and National Challenges
