President Tinubu's celebration of 2nd year in office Anniversary

*President Tinubu Highlights Progress in Second Anniversary Address* 

Abuja, Nigeria - May 29, 2025 

- Marking the second anniversary of his administration, President Bola Tinubu addressed the nation today, outlining what he described as significant progress in the country's economic recovery, security, and social development. In a statement released from Aso Rock, the President acknowledged the challenges faced since assuming office and commended Nigerians for their resilience.

President Tinubu stated that his administration's early decision to eliminate fuel subsidies and reform the foreign exchange system were crucial to prevent further economic decline. "The economic and general situation of the country I inherited required that we redirect the country’s affairs with a bold and new vision," he asserted. He thanked citizens for their support during these reforms, acknowledging the difficulties experienced.

 *Economic Front:* 

The President highlighted several economic achievements, stating that inflation has begun to ease, with a noted decline in the prices of rice and other staples. He reported a significant upturn in the oil and gas sector, with rig counts increasing by over 400% compared to 2021 and over $8 billion in new investments secured.

On fiscal management, President Tinubu announced that the fiscal deficit had narrowed from 5.4% of GDP in 2023 to 3.0% in 2024, attributing this to improved revenue generation. 

He also noted the discontinuation of Ways & Means financing and stated that the NNPC is now a net contributor to the Federation Account due to the removal of fuel subsidies.

The nation's debt position is also improving, according to the President, with the debt service-to-revenue ratio dropping significantly. He mentioned the repayment of IMF obligations and a substantial increase in net external reserves. Furthermore, state revenues reportedly increased significantly in 2024.

A key highlight was the administration's tax reform agenda, which has seen the tax-to-GDP ratio rise to over 13.5%. President Tinubu detailed measures such as the elimination of multiple taxation, 0% VAT on essential goods and services, and exemptions for rent, public transportation, and renewable energy. He also announced the establishment of a Tax Ombudsman.

 *Security Efforts:* 

Addressing the security situation, President Tinubu acknowledged ongoing challenges but reported successes in certain areas, particularly in the northwest, where he claimed the armed forces have restored order, allowing farmers to return to their land and making highways safer. He commended the efforts of the military, police, and intelligence agencies and reiterated his commitment to ensuring the safety of all Nigerians.

 *Human Capital Development:* 

The President emphasized the importance of investing in human capital. He cited the expansion of access to quality education through infrastructure investments and the student loan scheme. In healthcare, he mentioned the revitalization of primary health centers, the upgrading of additional facilities, the establishment of new cancer treatment centers, and the expansion of health insurance coverage.

Youth empowerment initiatives, including access to funds and skill development, are also a priority, according to the statement. The President highlighted the progress at the National Agency for Science and Engineering Infrastructure (NASENI) as an example of empowering young Nigerians through technology and innovation.

 *Agriculture and Infrastructure:* 

The administration is also focused on boosting local food production and supporting farmers through mechanization and the provision of inputs. President Tinubu also highlighted ongoing major road construction and rehabilitation projects across the country and efforts to improve electricity generation, including investments in off-grid solar energy.

 *Looking Ahead:* 

President Tinubu announced the upcoming Motherland Festival, aimed at showcasing Nigeria's culture and heritage to the world. He also acknowledged the vital role of the Nigerian diaspora and highlighted policies designed to facilitate their engagement and investment.

In closing, President Tinubu thanked Nigerians for their sacrifices and expressed confidence in the nation's future. "Our journey is not over, but our direction is clear," he stated.

This second-anniversary address provides a self-assessment from President Tinubu's administration, highlighting key policy decisions and purported outcomes across various sectors. The accuracy and impact of these claims will likely be subject to ongoing public and expert scrutiny.