President Bola Ahmed Tinubu has said that Nigeria has stabilized and is moving forward again, expressing confidence that the country will emerge stronger, more united and more prosperous from its current challenges, as visible progress takes shape across the nation.

The President made the declaration in a statement, marking the third anniversary of his administration, during which he reflected on the economic and structural difficulties inherited at the commencement of his tenure and the measures taken to stabilize the nation and lay the foundation for long-term recovery.

President Tinubu noted that on assumption of office, Nigeria faced mounting fiscal pressures, unsustainable fuel subsidies, declining revenues, exchange-rate distortions, rising debt-servicing costs, insecurity, energy supply constraints and declining public confidence in institutions.

The President asserted that the situation demanded urgent and courageous action, emphasising that difficult but necessary decisions had to be taken to stabilise the economy and prevent a deeper national crisis.

The President maintained that the administration’s reform measures were beginning to yield tangible results, noting that the economy is now more competitive and better positioned for sustainable growth than it was in 2023.

He said the stock market had recorded significant growth, with the All Share Index rising from 53,000 and market capitalization of N30 trillion in 2023 to a record All Share Index of 250,000 and market capitalization of N160 trillion this year, while companies were declaring record profits and dividends.

President Tinubu also highlighted ongoing investments in critical infrastructure, noting that over 2,700 kilometres of highways and major roads are under construction, reconstruction or rehabilitation across the country, including the Lagos-Calabar Coastal Highway, the Sokoto-Badagry Super Highway, the Abuja-Kaduna-Zaria-Kano Road, the East-West Road and several rural access roads.

The President added that significant sections of the projects have already been completed or are nearing completion, improving transportation, reducing travel time, boosting regional trade and creating thousands of jobs.

On the oil and gas sector, President Tinubu said reforms introduced by his administration had attracted billions of dollars in fresh investment from international oil companies, adding that the five-billion-dollar NLNG Train 7 project was nearing completion to boost LNG production capacity, exports and dividends.

The President reiterated his administration’s commitment to sustaining reforms and expanding opportunities that would support economic recovery, improve livelihoods and strengthen long-term national prosperity.