President Bola Ahmed Tinubu has assured Nigerians that the economic hardships and sacrifices experienced since the introduction of his administration’s reforms have not been in vain, insisting that the country is gradually regaining stability.
In a statement marking his third year in office on May 29, 2026, Tinubu said his administration’s economic policies had helped stop massive financial losses previously linked to fuel subsidies and foreign exchange arbitrage.
According to the President, the reforms blocked an estimated daily loss of N18.4 billion previously spent on fuel subsidies, as well as about N8 trillion lost through forex arbitrage.
“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 stated.
Tinubu acknowledged the burden the reforms had placed on many Nigerians, particularly families, workers and young people, but maintained that the measures were necessary to reposition the country’s economy.
He explained that when his administration assumed office, Nigeria was confronted with serious economic and structural challenges that required urgent intervention.
The President said the reforms introduced over the past three years were aimed at correcting long-standing distortions in the economy and laying a sustainable foundation for growth and national recovery.
While expressing appreciation to Nigerians for their patience and resilience, Tinubu insisted that the difficult decisions taken by his administration were unavoidable and necessary for the country’s long-term progress.
