*”We’re already seeing results, he says
By Mercy Aikoye
President Bola Tinubu commemorated the 26th anniversary of uninterrupted democracy in Nigeria by highlighting the socio-economic achievements of his administration over the past two years.
The President noted that his team introduced fundamental reforms to correct structural network electric imbalances that prevented maximum growth. “Upon assuming office, my team and I moved to reform our ailing economy,” he said.
President Tinubu cited the GDP growth rate of 3.4% in 2024, with Q4 hitting 4.6%, the highest quarter of growth in over a decade. “We are already seeing results,” he added.
The President mentioned that inflation is easing gradually, steadying the price of food staples like rice and beans. “Our net foreign reserves have increased fivefold, and the Naira exchange rate has stabilised,” he said.
Over 100,000 Nigerians, including 35,000 civil servants, have benefited from affordable consumer credit through the Nigerian Consumer Credit Corporation (CREDICORP). “This July, we will launch a bold new initiative to empower 400,000 young Nigerians with consumer credit,” President Tinubu announced.
The President emphasized his administration’s commitment to giving more opportunities to young people through job creation and skills development. “Through programs like NELFUND, we are investing in education, vocational training, apprenticeships, and internships,” he said.
President Tinubu highlighted the ambitious project to lay fibre optic cables across the nation, bridging the digital divide and fostering greater connectivity. “This initiative promises to enhance the speed and reliability of internet access and revolutionize how businesses operate,” he noted.
The President emphasized that the “Nigeria First” policy will further enhance progress as they consolidate market-driven growth. “Our medium-term growth target remains an economy growing at a 7% clip with a stronger manufacturing base,” he said.
President Tinubu solicited the support of lawmakers by churning out innovative legislations. “I ask you, the legislature, to join me as we enter the second half of our term to put forth innovative legislation that further encourages industrial development and job creation,” he said.
The President introduced a comprehensive Tax Reform Package, a vital component of their economic re-engineering. “I am deeply grateful to both chambers for your thorough consideration and deliberation of these bills,” he added.
President Tinubu emphasized the importance of upholding democratic values, including tolerance, dialogue, and persuasion. “We must always value dialogue over dictatorship, persuasion over suppression, and rights over might,” he said.
The President stressed the need for tolerance and broad-mindedness in legislative action regarding speech and civil liberties. “Do not be afraid to hear an unkind word spoken against you,” he advised.
President Tinubu called on Nigerians to work together to make real the dream of Nigeria’s political and economic democracy. “Our nation is not perfect, but it is strong. Our democracy is not invincible, but it is alive,” he said.
The President highlighted the importance of national security, citing intensified security operations to reclaim communities from criminals and terrorists. “We have intensified security operations and improved inter-agency cooperation,” he noted.
President Tinubu expressed gratitude to the men and women of the Armed Forces for their bravery and selfless dedication to protecting the nation’s sovereignty. “Their courage and commitment deserve our gratitude and continued support,” he said.
The President emphasized that the achievements of his administration are the result of a collective effort to make possible the Nigerian Dream. “We must work even harder to translate broad macroeconomic gains into tangible improvements in the lives of ordinary Nigerians,” he concluded.
