President Bola Ahmed Tinubu marked his second year in office on May 29, 2025, he delivered a nationwide address reflecting on the journey so far.
He described the period as one of “bold decisions, renewed hope, and shared sacrifices,” while promising Nigerians that the best is yet to come.
In his broadcast from Aso Rock, the President acknowledged the challenges his administration met in 2023.
However, he stressed that bold reforms were necessary to rescue the nation from deeper economic decline.
“It was apparent that if the federal government and the other two tiers of government must remain viable… we must do away with decades-long fuel subsidies and the corruption-ridden multiple foreign exchange windows,” he stated.
These tough measures, he explained, were taken to stop the economy from spiraling further.
According to him, the “only alternative to the reforms… was a fiscal crisis that would have bred runaway inflation, external debt default, crippling fuel shortages, a plunging Naira, and an economy in free-fall.”
Since then, several signs of recovery have emerged, Inflation is gradually easing.
The price of rice and other staples has declined.
Moreover, over \$8 billion in new oil and gas investments have been secured in 2025 alone.
Crude oil production has also risen, with rig counts increasing by over 400% compared to 2021.
President Tinubu noted that revenue generation has improved significantly, with over N6 trillion recorded in the first quarter of 2025.
He emphasized transparency in government spending and the discontinuation of “Ways & Means financing,” a practice previously blamed for high inflation.
The government’s focus on tax reforms has also begun yielding results.
Tinubu revealed that Nigeria’s tax-to-GDP ratio rose from 10% to over 13.5% within one year.
This leap was attributed to improved tax administration and a fairer system for all.
“Essential goods and services such as food, education, and healthcare will now attract 0% VAT,” he declared, adding that rent, public transport, and renewable energy will also be VAT-exempt.
To protect vulnerable groups, a Tax Ombudsman is being established.
Meanwhile, the President affirmed that small businesses will benefit from a simplified tax regime, making formalization easier.
The Renewed Hope Agenda, a cornerstone of the Tinubu administration, continues to drive policy direction.
President Tinubu assured citizens that deliberate steps were being taken to empower youth and improve lives.
Through platforms like NASENI and projects such as “Innovate Naija” and “Irrigate Nigeria,” thousands of jobs have been created, and technological innovation is being encouraged.
The solid minerals sector is also gaining attention.
New policies are pushing away from raw export to value-added processing.
Similarly, more than 1,000 Primary Health Centres are being revitalized.
Under the Presidential Maternal Health Initiative, over 4,000 free cesarean sections have been carried out, and dialysis services are now subsidized or free in pilot hospitals.
In terms of security, the President reaffirmed that safety remains his top priority.
“Our military, police, and intelligence agencies are committed to always responding to emerging security threats,” he noted.
He added that highways are safer, and farmers have returned to their fields in areas previously overrun by bandits.
The student loan scheme is supporting indigent students, while investments in off-grid solar solutions are powering schools, hospitals, and businesses across Nigeria.
As part of efforts to position Nigeria on the global stage, Tinubu announced preparations for the Motherland Festival, an event designed to celebrate the country’s culture, tourism, and creativity.
He further acknowledged the role of Nigerians in the diaspora, stating that new policies now make it easier for them to invest and contribute to national development.
“Our journey is not over, but our direction is clear,” he said. “By the Grace of God, we are confident that the worst is behind us. The real impact of our governance objectives is beginning to take hold.”
In reflecting on President Tinubu’s 2nd anniversary, it’s evident that his administration is banking on reforms to rebuild Nigeria’s economy and social fabric.
