RENEWED HOPE: A MESSAGE TO THE NATION ON OUR SECOND ANNIVERSARY

Fellow Nigerians,

Two years ago, we began this journey together—driven by a shared determination to rebuild our nation and secure a brighter future for every citizen. When I took office, the economic landscape we inherited demanded decisive action. Our country stood at a crossroads. Without urgent reforms, we risked a full-scale collapse.

We took bold steps to prevent this: ending the costly fuel subsidy and unifying our foreign exchange system. These decisions, though difficult, were necessary to stop the bleeding and restore our economic health. They marked the beginning of a new chapter—a chapter defined by courage, reform, and collective progress.

As we mark this second anniversary on May 29, 2025, I come before you not only to reflect but to share the progress we’ve made and the road ahead.

From the onset, we pledged to steer Nigeria toward stability, prosperity, and security. Under the Renewed Hope Agenda, our mission has been clear: fight corruption, strengthen governance, revive our economy, and uplift the lives of ordinary Nigerians. With your unwavering support, we are making steady strides.

Yes, the path has not been without its pains. We acknowledge the hardships many have faced during this transition. But we have been honest with you every step of the way—because the alternative would have been far worse: runaway inflation, skyrocketing debt, fuel shortages, and a sinking Naira.

Today, we see signs of progress. Inflation is easing, food prices—especially rice—are declining, and investments are returning. In the oil sector, we’ve seen rig activity rise significantly, and over $8 billion in new investments are boosting our energy future. We’re building an economy that can weather storms and grow sustainably.

Our fiscal house is being put in order. The budget deficit is narrowing, revenues are increasing, and for the first time in years, we have stopped relying on Ways and Means borrowing. The NNPC, unshackled from subsidy burdens, is now contributing meaningfully to the Federation Account. We’ve grown external reserves from $4 billion to over $23 billion—nearly a 500% increase.

States are benefiting too. With a record N6 trillion in revenue gains last year alone, governors now have the capacity to meet obligations, reduce debt, and invest in infrastructure and social services.

One of our landmark achievements is our tax reform. We’ve improved tax efficiency and fairness, raising the tax-to-GDP ratio from 10% to 13.5% in just a year. We’re simplifying taxes, eliminating multiple levies, and ensuring the system supports low-income families and small businesses.

Goods like food, education, healthcare, and public transport are now VAT-free. We're shifting from blanket waivers to targeted incentives, supporting sectors like manufacturing, tech, and agriculture. A new Tax Ombudsman will protect small taxpayers and promote fairness.

We’re building an economy for the future—youth-friendly, digital-ready, and export-driven. Through reforms like the National Single Window for trade and the empowerment of digital workers, we are unlocking Nigeria’s potential.

Our solid minerals sector is also booming, with new value-add policies attracting investors. In health, over 1,000 Primary Health Centres are being revitalized. We're building new cancer centres, offering free and subsidized dialysis, and providing maternal care for thousands of women.

Our economy is rebounding. GDP growth hit 4.6% in Q4 2024, with a full-year growth of 3.4%—the best in a decade. But without safety, prosperity cannot last. That’s why security remains our highest priority.

We’ve improved coordination among security agencies, invested in intelligence, and prioritized the welfare of our armed forces. We honour their daily sacrifices. From the northwest to the highways, peace is returning. Farmers are back in their fields. Lives are being saved. We are winning this fight.

Beyond security, we are investing in people. Education has expanded, with a student loan scheme in place. Health facilities are improving. Social safety nets are being strengthened. Youth are at the centre of national development.

Institutions like NASENI are pushing innovation—assembling electric vehicles, launching diagnostic factories, and training drone engineers. Initiatives like “Innovate Naija” and “Irrigate Nigeria” are reshaping industries and opening opportunities for our young people.

Agriculture remains critical. We are supporting farmers, investing in tractors and fertilisers, and stabilizing food supply chains. Our roads—from Lagos to Kano, Enugu to Port Harcourt—are being rebuilt. Infrastructure is no longer a promise; it’s visible progress.

We’re also powering homes, businesses, and hospitals through major investments in solar energy and transmission networks. Energy security is within reach.

Soon, the world will turn its eyes to Nigeria as we host the Motherland Festival—a celebration of our culture, creativity, and resilience. This global event will showcase Nigeria’s beauty, innovation, and hospitality. Our diaspora, a vital force in our growth, is more empowered than ever to contribute through new initiatives and investment platforms.

Fellow citizens, this journey is far from over, but the vision is clearer than ever. The sacrifices you’ve made are not in vain. We are turning the corner, and the seeds of reform are starting to bear fruit. By God’s grace, the hardest days are behind us.

The road ahead is one of unity, growth, and shared prosperity. Together, we will continue to build a Nigeria that works for everyone—a nation where no one is left behind.

Thank you, and may God bless the Federal Republic of Nigeria.

Source News
Daily Trust

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