President Bola Tinubu has attributed the return of investor confidence in Nigeria to the economic reforms implemented by his administration since 2023.
Tinubu opined that his administrative reforms were introduced out of necessity to stabilise the economy, restore credibility to public financial management and create conditions for sustainable growth across key sectors.
According to the President, Nigeria’s economic management has become more stable and transparent, leading to increased investments in agriculture, energy, manufacturing, technology, mining, transportation and the creative industry.
He made the remarks in his Democracy Day address to Nigerians on Friday while confidently listing his administration’s economic gains, uttering that before the reforms, public finances were under severe pressure, investment inflows were discouraged and economic uncertainty posed a threat to the country’s future.
Tinubu held that Federation revenues have risen, providing states and local governments with more resources for infrastructure, education, healthcare and security.
He mentioned that fiscal transparency had improved, leakages in public finance had been reduced and government resources were now being channelled more effectively toward national priorities with investments in agriculture, energy, manufacturing, technology, mining, transportation and the creative industries growing.
The country’s leader further noted that domestic refining capacity had expanded under his administration, strengthening the country’s energy security and reducing dependence on imported petroleum products.
Highlighting broader economic gains, the President disclosed that infrastructure projects across the country were improving market access, stimulating enterprise and creating employment opportunities.
He disclosed that the National Agricultural Development Fund was deploying 10,000 tractors over five years, while more than 1,000 small and medium-scale enterprises had been certified for export.
According to the President, non-oil exports recorded a 21 per cent increase in the last year, reflecting the impact of ongoing efforts to diversify the economy.
However, Tinubu acknowledged that many Nigerians were still facing economic hardship and assured citizens that his administration remained focused on reducing inflation, increasing food production, creating jobs and improving living standards.
“We are moving from uncertainty to stability. The next phase is about accelerating growth and ensuring the benefits are felt in every home, every community and every region,” he said.