‘The reforms continue’: Tinubu defends economic policies at third anniversary

President Bola Tinubu on Friday defended his administration’s economic reforms and declared that Nigeria was beginning to witness “recovery, resilience, and renewal” three years after he assumed office.

In a nationwide address marking the third anniversary of his inauguration, Mr Tinubu acknowledged that his government’s policies had been difficult but insisted they were necessary to rebuild the economy and stabilise the country.

“Three years ago, on this day, I first addressed you as your President. I pledged courage in leadership, honesty in reform, and commitment to rebuilding the foundations of our economy,” the president said.

“The decisions we have taken since have been difficult but necessary. Today, the signs of recovery, resilience, and renewal are visible across our country.”

Projects commissioned nationwide

As part of activities marking the anniversary and ahead of Nigeria’s Democracy Day celebration on 12 June, the president announced the commissioning of more than 20 strategic projects spread across the country’s six geopolitical zones.

The projects cut across energy, healthcare, enterprise development, education and public works, forming part of the administration’s Renewed Hope Agenda.

In the energy sector, Mr Tinubu highlighted four flagship gas infrastructure projects under the Midstream and Downstream Gas Infrastructure Fund, aimed at expanding compressed natural gas (CNG) infrastructure and reducing transportation costs.

Among them is the FEMADEC Energy CNG refuelling station at the Federal University of Technology, Owerri, described as the first of 20 planned stations across federal universities.

Other projects include the Portland Gas mother station in Ojota, Lagos, with an affiliated daughter station in Kubwa, Abuja; a network of 15 CNG stations developed by Ibile Oil and Gas across Lagos State; and Rolling Energy’s RLNG and LCNG facilities spanning Abuja, Kaduna, Kano and Borno states.

According to the president, the projects would help deepen cleaner energy adoption and strengthen Nigeria’s energy security.

“Together, these projects will lower transport costs, expand cleaner energy, and strengthen our energy sovereignty,” he said.

Focus on health infrastructure

The president also announced the commissioning of 13 healthcare projects across the federation, including new facilities in federal teaching hospitals and emergency response centres.

The projects include the President Bola Tinubu Complex at the Federal Medical Centre, Abuja; a Trauma Centre Pharmacy Quality Control Laboratory at Ahmadu Bello University Teaching Hospital, Zaria; and an Infertility and Assisted Reproductive Technology Centre at Abubakar Tafawa Balewa University Teaching Hospital, Bauchi.

Others are a Mental Health Complex at the University of Maiduguri Teaching Hospital, an Administrative Complex at the University of Nigeria Teaching Hospital, Enugu, and a Laboratory Complex at the University of Uyo Teaching Hospital.

The government also commissioned State Emergency Operations Centres in Kano, Sokoto and Katsina states, as well as a vaccine hub in Oshodi, Lagos.

In addition, Mr Tinubu unveiled the National Emergency Medical Service and Ambulance System fleet, comprising 145 tricycle ambulances, six boat ambulances and 79 ambulances designated for federal hospitals nationwide.

The president said the projects reflected ongoing efforts to strengthen primary healthcare delivery, noting that nearly 3,000 primary healthcare centres had been revitalised under the IMPACT programme in the last two years.

He added that the programme had also delivered 27 Comprehensive Emergency Obstetric and Newborn Care sites, alongside the revitalisation of 1,602 Level 1 facilities and 1,360 Level 2 facilities nationwide.

Economic reforms and public reaction

Since assuming office in May 2023, Mr Tinubu’s administration has implemented major economic reforms, including the removal of petrol subsidy and the liberalisation of the foreign exchange market.

The policies, while praised by international financial institutions such as the International Monetary Fund and the World Bank as necessary structural reforms, have also triggered sharp increases in inflation, transportation costs and the cost of living.

Nigeria’s inflation rate surged in the aftermath of the reforms, with food prices becoming a major concern for households across the country.

Despite mounting public pressure over economic hardship, the presidency has repeatedly argued that the reforms were essential to prevent fiscal collapse and place the economy on a sustainable path.

Friday’s address appeared aimed at reinforcing that message, with Mr Tinubu insisting that the administration’s interventions were already impacting ordinary Nigerians.

“These projects are not ceremonial symbols. They are evidence that the Renewed Hope Agenda is being felt in homes, businesses, schools and hospitals across our federation,” he said.

Democracy Day scorecard

The president said his anniversary remarks would be brief, noting that a comprehensive assessment of his administration’s performance would be presented on Democracy Day.

“Today is the commemoration of our inauguration. It is not a day for long speeches. On June 12, our Democracy Day, we will present our full scorecard to Nigerians,” he said.

Mr Tinubu concluded by formally declaring the projects commissioned and reaffirming his administration’s commitment to ongoing reforms.

“The work continues. The reforms continue. And our resolve remains unshaken.”