Report by Bello Wakili; Editing by Basirat Memudu
President Bola Tinubu has re-emphasized that the reforms introduced by his administration are critical to rescuing the nation from economic decline.
He stated this in a statement marking the second anniversary of his administration, in which he highlighted the major strides in economic reform, security, healthcare, and youth empowerment.
The President said the reforms had brought significant achievements in economic stability, including a drop in inflation, rising foreign reserves, and renewed investor confidence.
According to him, Nigeria’s external reserves reportedly surged from 4 billion dollars in 2023 to over 23 billion dollars in 2024, and the fiscal deficit shrank from 5.4 percent to 3.0 percent of GDP within a year.
The President said the tax reforms had helped raise the tax-to-GDP ratio to 13.5 percent, enabling State Governments to reduce debt and fund development.
President Tinubu also celebrated progress in the health and education sectors, saying that over 6,500 primary healthcare centres are being revitalized, with access to student loans and investments in skilled personnel aim to improve education and public health.
He made reference to improvement in security efforts, and commended service personnel for reducing banditry and restoring order in previously troubled regions.
Youth empowerment featured prominently in the President’s message, citing the role of the National Agency for Science and Engineering Infrastructure, NASENI, and programmes like Innovate Naija and Irrigate Nigeria as engines of job creation and innovation.
The President said his administration had supported MSMEs and expanded digital job opportunities through tax-friendly measures and infrastructure investment.
The President announced Nigeria’s preparations to host the Motherland Festival, a global celebration of the country’s cultural heritage and creativity, re-affirming the government’s commitment to diaspora engagement, through policy tools like the diaspora bond and non-resident BVN.
He thanked Nigerians for their resilience and support through the challenging times caused by the reforms.
