Reforms Are Essential, Not Optional, as Leakages Decrease — Tinubu

President Bola Tinubu said that the economic reforms his administration introduced were driven by necessity rather than convenience, aiming to restore stability, strengthen fiscal discipline, and position Nigeria’s economy for sustainable long‑term growth.

In his Democracy Day speech, Tinubu recalled that three years ago Nigeria’s public finances were under severe strain, investment was discouraged, and widespread economic uncertainty threatened national development. He explained that the administration chose to act decisively by adopting reforms designed to advance what he described as Nigeria’s economic freedom.

According to him, since 2023 the reforms have helped restore stability and credibility in economic management. He noted that federation revenues have increased significantly, enabling state and local governments to access more resources for infrastructure, education, healthcare, and security.

The president also stated that fiscal transparency has improved under the reforms, with leakages reduced and public funds now better directed toward national priorities. He added that investor confidence has returned, leading to increased investments across key sectors such as agriculture, energy, manufacturing, technology, mining, transportation, and the creative industries.

Tinubu further highlighted gains in the energy sector, saying domestic refining capacity has grown, strengthening Nigeria’s energy security and reducing dependence on imported petroleum products.

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