We do not take Nigerians’ patience for granted, he says
By Jeremy Fregene
President Bola Tinubu, yesterday gave his two-year-old administration a pass mark in nearly all sectors, particularly security, economy, health care, and socio-economic development, among others, stressing that most of the policies implemented by the regime were geared towards reviving a near-comatose economy.
President Tinubu also said his administration is committed to the security and safety of Nigerians.
Tinubu, who yesterday marked the second anniversary of his administration, also said the government had made progress in returning the country to the path of socio-economic development.
“Without a responsive and reliable national security infrastructure that can protect lives and properties, our economy will not perform optimally, and those who seek to harm us will impair and disrupt our way of life.
“For our government, protecting our people and their peaceful way of life is the utmost priority,” said Tinubu.
He stated that his administration had improved collaboration among security agencies, increased intelligence-driven operations, and better ensured the welfare of the armed forces and security personnel.
“I use this opportunity to salute the courage and everyday sacrifice of our service men and women.
“We may not always witness the tremendous efforts they make to keep us safe, but we benefit every day from the results of their dedication.
“Even if we do not thank them often enough, they willingly face danger so we can go about our lives freely and without fear.
“Our military, police, and intelligence agencies are committed to always responding to emerging security threats and new challenges because it is the patriotic duty they owe a grateful nation,” the president stated.
Tinubu said in some areas of the North-West hitherto under the control of bandits, the gallant armed forces had restored order, reducing and eliminating threats to lives and livelihoods.
With the success achieved, he said, farmers were back tilling the land, and that highways, hitherto dangerous for travellers, had become safer.
“Our security agencies have succeeded many times in rescuing the abducted citizens from the hands of their tormentors.
“I promise you, we shall remain vigilant, as I told security chiefs during the last meeting to up their game and collaborate to end this plague of evil men.
“Every Nigerian deserves to live without fear,” the president reassured.
Also yesterday, President Bola Tinubu said his administration had made progress in returning the country to the path of socio-economic development.
“When we embarked on this journey, propelled by a burst of hope and abiding faith in Nigeria’s unity and progress, I made a pledge before God and fellow countrymen and women to confront Nigeria’s challenges head-on.
“We have breathed new life into the Solid Minerals sector as part of our efforts to diversify the economy.
“Revenue has increased phenomenally, and investors are setting up processing plants as the sector dumps the old pit-to-port policy and embraces a new value-added policy,” said Tinubu.
He stated that his administration had also repositioned the health sector in spite of all odds.
“Over 1,000 Primary Health Centres are being revitalised nationwide. An additional 5,500 PHCs are being upgraded under our Renewed Hope Health Agenda.
“We are establishing six new cancer treatment centres. Three are ready. We offer free dialysis services in pilot tertiary hospitals and subsidise the service in others.
“Under the Presidential Maternal Health Initiative, over 4,000 women have undergone free caesarean sections. Lastly, we have expanded Health Insurance Coverage from 16 million to 20 million within two years,” he said.
The President said his government had also prioritised human capital development as a central pillar of national development strategy.
“To this end, we have significantly expanded access to quality education through infrastructure investments and the student loan scheme to support indigent students in tertiary institutions.
“Through the Renewed Hope Health initiative, our administration has begun equipping health facilities and deploying skilled personnel to unserved areas. We are also strengthening our response to public health threats and implementing targeted social investment schemes,” he said.
According to the President, his administration’s youth empowerment initiatives include access to funds, skill development, and creating employment opportunities.
“Through our MSME support, we empower the next generation and bridge inequality.
“In our mission to empower the next generation, we have taken bold steps to place young Nigerians at the heart of national development.
“Nowhere is this more evident than at the National Agency for Science and Engineering Infrastructure (NASENI), where the current management is making giant strides,” Tinubu said.
According to him, NASENI has embraced a digital-first approach, introduced real-time dashboards, and implemented end-to-end e-procurement through its Unified ERP System – setting a new governance benchmark for public institutions.
“Through bold, high-impact programmes like Innovate Naija, Irrigate Nigeria, the Asset Restoration Programme, and the Renewable Energy and Innovation Park in Gora, NASENI drives inclusive industrialisation at scale.
“From assembling electric vehicles and reviving idle assets to launching Africa’s most advanced Rapid Diagnostic Kit Factory and training female drone engineers through the NASCAV programme, these initiatives are creating jobs, restoring dignity to work, and opening up a future of possibilities for our youth.
“This is the movement we promised – a government of action powered by the energy and innovation of young Nigerians,” he said.
Tinubu said that agriculture and food security were top priorities of his administration’s Renewed Hope Agenda.
“We have launched aggressive initiatives to boost local food production, support farmers, and stabilise food prices.
“We have also invested in mechanised farming by procuring thousands of tractors, other farming tools, and fertilisers,” he said.
Similarly, President Bola Tinubu, yesterday said one of his administration’s most impactful achievements was its bold tax reform agenda, which had started yielding results.
He said by the end of 2024, the country’s tax-to-GDP ratio rose from 10 per cent to over 13.5 per cent, a remarkable leap in just one year.
He said this was a result of deliberate improvement in tax administration and policies designed to make the tax system fairer, more efficient, and more growth-oriented.
“We are eliminating the burden of multiple taxation, making it easier for small businesses to grow and join the formal economy. The tax reforms will protect low-income households and support workers by expanding their disposable income.
“Essential goods and services such as food, education, and healthcare will now attract 0 per cent VAT. Rent, public transportation, and renewable energy will be fully exempted from VAT to reduce household costs further.
“We are ending the era of wasteful and opaque tax waivers. Instead, we have introduced targeted and transparent incentives supporting high-impact manufacturing, technology, and agriculture sectors,” said Tinubu.
He added that these reforms were not just about revenue but about stimulating inclusive economic growth.
For instance, he said, there was a deliberate focus on youths, who a friendlier tax environment for digital jobs and remote work would empower.
He said through export incentives, Nigerian businesses would be able to compete globally.
Tinubu added that his administration’s National Single Window project has streamlined international trade, reduced delays, and enhanced Nigeria’s competitiveness.
“To promote fairness and accountability, we are establishing a Tax Ombudsman, an independent institution that will protect vulnerable taxpayers and ensure the system works for everyone, especially small businesses.
“Most importantly, we are laying the foundation for a more sustainable future by introducing a new national fiscal policy.
”This strategic framework will guide our approach to fair taxation, responsible borrowing, and disciplined spending.
“These reforms are designed to reduce the cost of living, promote economic justice, and build a business-friendly economy that attracts investment and supports every Nigerian.
“Together, we are creating a system where prosperity is shared, and no one is left behind,” the President stated.
President Tinubu affirmed that the economic reforms of his administration were working, and that his government was on course to building a greater, more economically stable nation.
He said under the Renewed Hope Agenda, his administration pledged to tackle economic instability, improve security nationwide, reduce corruption, reform governance, and lift Nigerians out of poverty.
He acknowledged some of the difficulties experienced by Nigerians during the course of implementing the reforms.
“We do not take your patience for granted,” Tinubu said.
He, however, said that in spite of the bump in the costs of living, the economy had made undeniable progress…Inflation has begun to ease, with rice prices and other staples declining. The oil and gas sector is recovering; rig counts are up by over 400 per cent in 2025 compared to 2021, and over 8 billion dollars in new investments have been committed.
“We have stabilised our economy and are now better positioned for growth and prepared to withstand global shocks.
“In 2025, we remain on track with our fiscal targets. Gross proceeds per barrel from crude oil are broadly aligned with our forecasts as we intensify our efforts to ramp up production,” said the president.
According to him, the country’s fiscal deficit has narrowed sharply from 5.4 per cent of GDP in 2023 to 3.0 per cent in 2024.
“We achieved this through improved revenue generation and greater transparency in government finances. In the first quarter of this year, we recorded over N6 trillion in revenue.
“We have discontinued Ways & Means financing, which has been a major contributor to high and sticky inflation.
“The NNPC, no longer burdened by unsustainable fuel subsidies, is now a net contributor to the Federation Account. We are also achieving fuel supply security through local refining,” continued the president.
He was emphatic that the country’s debt position was improving: “While foreign exchange revaluation pushed our debt-to-GDP ratio to around 53 per cent, our debt service-to-revenue ratio dropped from nearly 100 per cent in 2022 to under 40 per cent by 2024.
“We paid off our IMF obligations and grew our net external reserves by almost 500 per cent from 4 billion dollars in 2023 to over 23 billion dollars by the end of 2024.
“Thanks to our reforms, state revenue increased by over N6 trillion in 2024, ensuring that subnational governments can reduce their debt burden, meet salaries and pension obligations on a timely basis, and invest more in critical infrastructure and human capital development,” said Tinubu.