May 29: Tinubu Highlights Midterm Economic Growth and Security Gains, Says Reforms Saved Nigeria from Collapse.

May 29: Tinubu Highlights Midterm Economic Growth and Security Gains, Says Reforms Saved Nigeria from Collapse

Abuja — President Bola Ahmed Tinubu, marking his second year in office on May 29, 2025, delivered a comprehensive defense of his administration’s performance, highlighting strides in economic recovery, security, tax reform, and infrastructure.

However, his claims have sparked backlash from opposition parties, who uniformly described his tenure as the worst in Nigeria's democratic history.

In a nationwide address titled "Midterm Reflection: Renewed Hope in Action", Tinubu stated that Nigeria’s economy had expanded significantly under his leadership, with external reserves growing by nearly 500% from $4 billion in 2023 to over $23 billion by the end of 2024. He also pointed to reforms in fiscal policy, oil and gas investments, tax administration, and social infrastructure as key successes.

“Two years ago, you entrusted me with the sacred responsibility to lead our nation at a time of historic challenges,” Tinubu said. “We took bold steps, removing fuel subsidies and unifying exchange rates to rescue Nigeria from imminent collapse. Today, our economy is more stable and positioned for long-term growth.”

The president cited a reduction in inflation, resurgence in the oil sector, and over $8 billion in new foreign investments. He said rig counts in oil fields were up 400% compared to 2021 and noted the fiscal deficit narrowed from 5.4% of GDP in 2023 to 3.0% in 2024. Revenue generation reportedly hit over ₦6 trillion in Q1 2025 alone.

On the issue of fuel subsidies, Tinubu maintained they were unsustainable. “Fuel subsidies and multiple exchange windows were choking our nation’s future,” he said. “Ending them was the only responsible path.”

Security and Governance

Tinubu emphasized improved security as a cornerstone of his administration.

He credited better inter-agency collaboration and intelligence sharing with restoring order in previously volatile regions.

“In parts of the North-West, banditry has reduced, highways have become safer, and farmers have returned to their lands,” the president said, praising the armed forces for “unseen sacrifices.”

He also noted the revitalization of over 1,000 Primary Health Centres and the ongoing upgrade of 5,500 more under the Renewed Hope Health Agenda. The president claimed health insurance coverage has grown from 16 million to 20 million people, and three of six new cancer treatment centers are already operational.

Infrastructure and Economic Policy

Tinubu touted key road and energy projects, including the Lagos-Calabar Coastal Highway, Abuja-Kaduna-Zaria-Kano road, and investments in solar power and off-grid solutions.

He added that his administration had reformed tax policies to support small businesses, expand the formal economy, and shield low-income Nigerians. “Basic items like food, education, and healthcare now attract zero VAT,” he said, adding that a new Tax Ombudsman would ensure fairness and accountability.

Mixed Reactions from the Opposition

Despite the president’s lengthy list of achievements, opposition parties fiercely rejected Tinubu’s narrative.

The Peoples Democratic Party (PDP) demanded an apology from the president and called for his resignation.

PDP Deputy National Youth Leader, Mr. Timothy Osadolor, said Tinubu’s tenure had “deepened hopelessness” and accused him of overseeing widespread lawlessness, economic hardship, and disregard for court orders.

“No responsible leader in a civilised nation would remove fuel subsidies without strategic cushioning measures. The result has been skyrocketing prices and a free-falling naira,” Osadolor said.

The Labour Party (LP) echoed similar sentiments, asserting that it would have performed better if given the mandate. National Publicity Secretary, Obiora Ifoh, said: “Nigerians now understand the warnings we gave before the 2023 elections. Inflation has soared, and the naira has collapsed from ₦167 to over ₦1,600 per dollar.”

He added that youth unemployment, insecurity, and public debt had worsened under the Tinubu administration.

The Coalition of United Political Parties (CUPP) offered the harshest criticism, branding the last two years under Tinubu as the “worst period in Nigeria’s history since independence.”

CUPP spokesperson Mark Adebayo said, “From mass hunger, security breakdowns, to failed diplomacy and collapsed healthcare, the country has drifted under this government. Even the capital city, Abuja, is now unsafe.”

Public Discontent and Political Warnings

Former President Muhammadu Buhari, in a separate statement, warned that the urgency of reforms should not be lost to “domestic politics,” implicitly cautioning against excessive politicization of governance challenges.

Nonetheless, the mixed reactions to Tinubu’s second anniversary suggest a growing national divide over the administration’s true impact.

While supporters hail the president’s reforms as bold and transformative, critics accuse him of exacerbating Nigeria’s economic woes and stifling democratic processes.

As Nigeria heads into the second half of the Tinubu's administration, the battle for public perception and the legacy of his “Renewed Hope Agenda” is far from over.

Credit: News Review

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