• !n day of May

PRESIDENT TINUBU MARKS 2ND ANNIVERSARY OF ADMINISTRATION, HIGHLIGHTS ECONOMIC PROGRESS

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  CapitalTimesNews / 7 days
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• 3 min read

President Bola Tinubu has marked the second anniversary of his administration, highlighting the progress made in steering the country’s economy towards stability and growth. In a statement released on May 29, 2025, Tinubu acknowledged the challenges faced by Nigerians but expressed confidence that the worst is behind the country. “We have made undeniable progress,” Tinubu said. “Inflation has begun to ease, with rice prices and other staples declining. The oil and gas sector is recovering; rig counts are up by over 400% in 2025 compared to 2021, and over $8 billion in new investments have been committed.” The President emphasized that the economic reforms implemented by his administration are working, citing a narrowed fiscal deficit, improved revenue generation, and greater transparency in government finances. “Our debt position is improving,” he said. “While foreign exchange revaluation pushed our debt-to-GDP ratio to around 53%, our debt service-to-revenue ratio dropped from nearly 100% in 2022 to under 40% by 2024.” Tinubu also highlighted the progress made in tax reform, noting that the tax-to-GDP ratio rose from 10% to over 13.5% in just one year. “This was not by accident,” he said. “It results from deliberate improvement in our tax administration and policies designed to make our tax system fairer, more efficient, and more growth-oriented.” The President also emphasized the importance of security, saying that protecting citizens and their peaceful way of life is the utmost priority of his administration. “Our military, police, and intelligence agencies are committed to always responding to emerging security threats and new challenges because it is the patriotic duty they owe a grateful nation.” Tinubu highlighted the progress made in human capital development, including expanding access to quality education and healthcare. “We have significantly expanded access to quality education through infrastructure investments and the student loan scheme to support indigent students in tertiary institutions,” he said. The President also announced plans for the Motherland Festival, a landmark gathering that will spotlight Nigeria’s rich heritage, dynamic creative industries, and the vibrant energy of its people. “This festival will showcase Nigeria’s beauty through tourism, culture, and innovation, inviting the world to rediscover our nation,” he said. In conclusion, Tinubu expressed confidence that the future is bright and that together, Nigerians will build a stronger, more inclusive country. “By the Grace of God, we are confident that the worst is behind us,” he said. “The real impact of our governance objectives is beginning to take hold. The future is bright, and together, we will build a stronger, more inclusive Nigeria that we can all be proud of.”