President Bola Ahmed Tinubu has declared that Nigeria’s economy is on the path of recovery, with his administration’s far-reaching reforms beginning to deliver tangible results less than three years after assuming office.
Sharing his thoughts about his administration’s performance in a national broadcast on Tuesday, October 1, 2025, the president said his government inherited a “near-collapsed economy” caused by decades of “fiscal policy distortions and misalignment” that had stifled real growth. Faced with a choice between maintaining the status quo or embarking on bold reforms, Tinubu said his administration opted for the latter.
“We chose the path of reform. We chose the path of tomorrow over the comfort of today. Less than three years later, the seeds of those difficult but necessary decisions are bearing fruit”, he stated.
The president highlighted key reforms, including the removal of fuel subsidies and the unification of the foreign exchange market, which he described as measures aimed at dismantling a rentier economy that benefited only a few while the majority received “little or nothing” from the nation’s wealth.
According to Tinubu, resources previously wasted on subsidies have been redirected to priority areas such as education, healthcare, national security, agriculture, and critical infrastructure like roads, power, broadband, and social investment programmes.
These, he said, are essential to improving Nigerians’ quality of life.
“With more funds now available to the Federal, State, and Local Governments, we are better positioned to tackle development challenges and address the needs of those at the lower rungs of the socio-economic ladder,” he added.
While acknowledging the country’s infrastructural deficits, such as inadequate electricity, poor roads, and underdeveloped transport infrastructure, Tinubu said his administration is “setting things right” and preparing the nation for future generations.
“I am pleased to report that we have finally turned the corner. The worst is over. Yesterday’s pains are giving way to relief. I salute your endurance, support, and understanding. I will continue to work for you and justify the confidence you reposed in me”, he assured Nigerians.
Citing economic indicators to support his claims, Tinubu noted that Nigeria’s Gross Domestic Product (GDP) grew by 4.23 percent in the second quarter of 2025, its fastest pace in four years, surpassing the International Monetary Fund’s projection of 3.4 percent.
He also said inflation dropped to 20.12 percent in August 2025, the lowest level in three years.
The president further reiterated his government’s commitment to boosting agricultural production and achieving food security to bring down food costs, pledging continued reforms to consolidate economic gains.
“Our economy is recovering fast, and the reforms we started over two years ago are delivering tangible results,” Tinubu concluded.
