President Bola Tinubu, on Friday, May 29 marks his third year in office as President of Nigeria. He reassured Nigerians that their sacrifices and endurance these past three years of sweeping economic reforms have not been in vain.
Meanwhile, Tinubu also defended his administration’s reforms over the past three years, adding that have prevented a daily loss of N8 trillion from forex arbitrage and N18.4 billion from fuel subsidy.
In addition, he thanked Nigerians for bearing the cost of what he described as “unavoidable structural adjustments” in a statement released on Thursday.
Tinubu said the fuel subsidy and multiple exchange rate windows and forex arbitrage were sabotaging the growth of the nation’s economy prior to his administration.
He further acknowledged that the reforms have strained young people, workers, and families, but insisted that the groundwork for Nigeria’s recovery has already been laid.
BACKSTORY…
This comes only days after Tinubu acknowledged that many Nigerians are still grappling with economic hardship and persistent security concerns across the country.
He earlier acknowledged this on Sunday while accepting the All Progressives Congress (APC) presidential ticket for the 2027 general election.
Speaking on the nation’s economic situation, Tinubu admitted the difficulties citizens are facing, particularly rising prices and ongoing economic adjustments.
“However, there are still challenges ahead. Many Nigerians continue to face difficulties with rising prices and changes in the economy.
The President also admitted that insecurity remains a major issue in parts of the country despite ongoing military interventions.
Tinubu Cleared for Re-election
Recall that just last week, president Bola Tinubu emerged the All Progressives Congress, APC, presidential candidate after beating Stanley Osifo.
The APC earlier conducted its presidential primaries across 8,809 wards nationwide, and the president defeated his lone challenger with 10.99 million votes against 16,504.
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