President Bola Ahmed Tinubu, in a nationwide address to mark this year’s Democracy Day, highlighted significant economic and governance milestones achieved under his administration and pledged further reforms to improve the lives of Nigerians.
Speaking at the joint session of the National Assembly, Tinubu declared that his government had undertaken critical economic reforms to revive the country’s ailing economy, noting visible improvements in GDP growth, inflation control, and foreign reserves.
“Our GDP grew by 3.4 percent in 2024, with the fourth quarter hitting 4.6 percent, the highest in over a decade. Inflation is easing gradually, food prices are stabilising, and our foreign reserves have increased fivefold. The Naira exchange rate has stabilised, and states no longer need to borrow to pay salaries,” Tinubu pointed out.
The president also cited progress in consumer credit expansion, with over 100,000 Nigerians, including 35,000 civil servants, accessing credit through the newly established Nigerian Consumer Credit Corporation (CREDICORP), announcing plans to extend credit access to 400,000 youth and corps members starting in July.
On employment and youth development, Tinubu said initiatives like NELFUND are funding education, vocational training, and internships adding that a national broadband project is also underway, with fibre optic cables being laid across the country to boost digital access.
“Our aim is to empower young Nigerians and close the digital divide,” he said.
Tinubu reaffirmed his commitment to domestic production and food security, stressing the need for a self-sufficient economy as he stated, “We must learn to produce and grow most of our food. We are on the path to achieving food sovereignty.”
He called on the National Assembly to support his administration’s economic vision by passing laws to stimulate industrial development and job creation.
The president thanked lawmakers for their bipartisan collaboration on the pending Tax Reform Package, expressing readiness to sign the bills into law.
He also announced the establishment of the Office of the Tax Ombudsman to protect taxpayer rights and ensure transparency.
On national security, Tinubu said the government has intensified operations against criminals and improved intelligence coordination saying “Our highways are safer. Technology and training are being used to secure every inch of this country.”
He paid tribute to the Armed Forces for their sacrifice, urging continued support and recognition for their efforts.
Tinubu concluded with a call for democratic tolerance, urging leaders to embrace free speech and dissent.
“Call me names, say what you will. I will still call upon democracy to defend your right to do so. Democracy demands tolerance not silence”, he stated.
He emphasised that the nation’s transformation is a collective task: “Our dream of a prosperous Nigeria is still within reach affirming, “We must stay the course, reject cynicism, and believe that Nigeria can and will rise again.”
