President says public revenues, foreign reserves and stock market have improved, while reaffirming commitment to security, press freedom and long-term economic growth.
President Bola Tinubu has defended the economic reforms introduced by his administration, insisting they are beginning to deliver positive results despite the initial hardships experienced by Nigerians.
Speaking on Thursday at the maiden State House Media Dinner in Abuja, Tinubu described the reforms as “difficult but necessary,” saying they have helped stabilise the economy and restore investor confidence.
According to the president, public revenues have increased significantly, enabling state governments to receive higher allocations for development projects.
“The difficult but necessary reforms undertaken by this administration are yielding results. Our economy is stabilising. Public revenues have strengthened significantly. State governments are receiving substantially higher allocations to support development. Investor confidence is returning,” he said.
Tinubu added that Nigeria’s foreign reserves have improved, while the oil and gas sector is attracting renewed investment. He also pointed to the strong performance of the stock market, saying key economic indicators are moving in the right direction.
He noted that ongoing tax reforms, fiscal reforms, infrastructure investments and efforts to improve the business environment are laying the foundation for a more competitive and prosperous economy.
While acknowledging that the journey is far from over, the president maintained that the administration remains focused on achieving sustainable long-term growth.
On security, Tinubu said his government has intensified military operations, improved intelligence gathering, strengthened inter-agency collaboration and expanded regional and international partnerships.
He claimed that these efforts have led to the neutralisation of thousands of terrorists and criminal elements, the rescue of numerous kidnapped victims and the recovery of communities previously under threat.
The president reaffirmed his administration’s commitment to tackling terrorism, banditry, kidnapping, oil theft and other criminal activities across the country.
Tinubu also commended the media for its role in deepening democracy but urged journalists to report responsibly and accurately to avoid inflaming tensions.
Describing the media as partners in nation-building, he pledged to uphold constitutional guarantees on freedom of expression and press freedom, assuring journalists that his administration remains committed to protecting their rights while encouraging responsible reporting.