President Bola Tinubu Defends Economic Reforms on Third Anniversary

President Bola Ahmed Tinubu marked the third anniversary of his administration on May 29, 2026, with a nationwide address framing his tenure as a period of necessary structural correction. He defended the removal of petrol subsidies and the liberalization of the foreign exchange market, asserting these actions prevented imminent bankruptcy and established a foundation for national recovery.

Tinubu highlighted several macroeconomic gains, including the growth of stock market capitalization from N30 trillion to N160 trillion and the recapitalization of the banking sector, where 33 of 36 banks met a N500 billion threshold by March 2026. He cited the construction of 2,700 kilometers of highways, including the Lagos-Calabar Coastal Highway, and the disbursement of over N282 billion in student loans via the Nigerian Education Loan Fund to 1.5 million beneficiaries.

While the president acknowledged the severe inflation and rising living costs faced by citizens, he maintained that the economy has stabilized. This position was echoed by advisers and state governors, who credited the administration's financial re-engineering with increasing state revenues. However, critics and the World Bank warned that high food inflation and multi-dimensional poverty remain significant risks to social stability. The administration also faces ongoing criticism over security failures, specifically the kidnapping of teachers and pupils in Oyo and Borno states.