Tinubu Says Economic Reforms Restore Stability and Promise Greater Prosperity for Nigerians on Democracy Day

President Bola Ahmed Tinubu defended his administration’s economic reforms on Friday, arguing that they are essential to lift Nigeria out of fiscal strain and establish a foundation for long‑term prosperity.

In his Democracy Day speech, the President linked the legacy of June 12, 1993, to the current push for economic transformation, stating that while the nation’s democratic pioneers secured political freedom, the present generation must secure economic freedom.

“June 12, 1993, revealed the possibility of a true Nigerian nation. The heroes of June 12 secured political freedom. Our challenge is to secure economic freedom,” Tinubu said.

He emphasized that democratic governance must translate into tangible improvements in citizens’ lives, adding that “democracy must be felt in the quality of people’s lives – in opportunities for youth, in prosperous farmers, successful entrepreneurs and the dignity of our workers.”

The President noted that the reforms introduced since taking office in 2023 were driven by necessity rather than convenience. “The reforms we are undertaking were not chosen for ease, but for necessity,” he said, recalling that three years ago “our public finances were under severe strain, investment was discouraged and economic uncertainty threatened our future.”

According to Tinubu, the government’s policies have “restored stability and credibility to economic management,” leading to higher federation revenues, improved fiscal transparency, reduced leakages and increased resources for infrastructure, education, healthcare and security.

He also said investor confidence has returned, with investments growing across agriculture, energy, manufacturing, technology, mining, transportation and the creative industries.

The President highlighted progress in the energy sector, noting that “domestic refining capacity has increased, strengthening energy security and reducing our reliance on imported petroleum products.”