Third anniversary speech.’—Tinubu thank Nigerians for enduring and assured all their sacrifices won’t go in vain

Tinubu revealed this in his statement to mark his third year in office on May 29, 2026.

“I remain deeply conscious of those sacrifices, and I assure you: your sacrifice has not been in vain. And today, I can say with confidence that Nigeria has stabilised and is moving forward again,” the President said.

While acknowledging the pressures of his reforms on families, workers and young people, the Nigeria leader insisted that the foundation for national recovery had been laid.

According to him, “When this administration assumed office, our nation faced profound economic and structural difficulties.

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.

“At the height of the subsidy regime, Nigeria was spending as much as N18.4bn daily to sustain petrol subsidies, over N4tn in 2022 alone, resources that could have been invested in roads, healthcare, education, housing, and critical infrastructure.

“Multiple exchange rate windows and forex arbitrage created massive distortions, with Nigeria losing more than N8tn over three years to rent-seeking and speculative practices.”

He argued that the administration’s decision to act swiftly on both fronts was a choice between national survival and politically convenient inaction.

“The situation demanded urgent and courageous action. Difficult but necessary decisions had to be taken to stabilise the economy and prevent a deeper national crisis.

“The easy choices would have been politically convenient. But leadership demands courage, especially when the right decisions are difficult.”

“Had we refused to act, our nation 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 stated.

Acknowledging the heavy cost of the reforms on ordinary Nigerians, the President 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.”

Tinubu disclosed that the Nigerian stock market had performed well under his administration.

He said the All Share Index had risen from 53,000 in 2023 to a record 250,000 in 2026, a nearly five-fold increase, while overall market capitalisation had surged from N30tn to N160tn.

According to the President, “Our 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. Investor confidence is growing.

“The stock market is booming, with the All Share Index rising from 53,000 and market capitalisation of N30tn in 2023 to a record All Share Index of 250,000 and market capitalisation of N160tn this year. Companies are declaring record profits and dividends.”