President Bola Ahmed Tinubu has assured Nigerians that the economic hardship experienced during the past three years of his administration’s reforms would eventually yield positive results for the country.
According to a report by The Punch on Friday, May 29, 2026, the president made the remarks in a national statement released to mark his third anniversary in office.
Tinubu stated that Nigeria’s economy has now stabilized and is gradually moving toward recovery following a series of difficult economic decisions introduced by his administration since 2023.
The president disclosed that the removal of fuel subsidy ended what he described as the daily loss of about ₦18.4 billion under the previous subsidy regime. He also stated that his government dismantled multiple foreign exchange windows and forex arbitrage practices that allegedly cost the country more than ₦8 trillion through speculative activities.
According to Tinubu, although the reforms contributed to inflation and economic pressure on many households, they helped prevent a deeper fiscal crisis and laid the foundation for long-term economic stability.
Highlighting areas of progress, the president pointed to growth in the Nigerian capital market, noting that the All Share Index reportedly rose from 53,000 in 2023 to about 250,000 in 2026, while market capitalization increased from ₦30 trillion to ₦160 trillion.
Tinubu also listed ongoing infrastructure projects as part of his administration’s achievements, including over 2,700 kilometers of highways currently under construction across major corridors such as the Lagos-Calabar Coastal Highway and the Sokoto-Badagry Super Highway.
In the education sector, he said the Nigerian Education Loan Fund (NELFUND) had expanded support to about 1.5 million students, with more than ₦282 billion reportedly disbursed.
The president further mentioned housing projects across 14 states and renewed investments by international oil companies, including progress on the $5 billion NLNG Train 7 project.
Tinubu urged Nigerians to remain hopeful and avoid cynicism, insisting that the foundation for national growth and prosperity has already been established.