The Speaker of the House of Representatives, Tajudeen Abbas, has extended congratulations to President Bola Tinubu on the third anniversary of his administration, praising his economic and governance reforms as bold steps that could strengthen Nigeria’s long-term stability and growth.
In a statement released on Friday by his Special Adviser on Media and Publicity, Musa Krishi, Abbas said the President assumed office at a time when the nation was already grappling with deep economic and structural difficulties. He added that Tinubu chose to implement tough reforms instead of taking easier but less effective political options.
“President Tinubu inherited a country on life support. A country on crutches. A country bedevilled by subsidy distortions, exchange rate instability, declining revenues, weakened investor confidence, oil theft, worsening insecurity and an economy weighed down by years of postponed decisions,” the Speaker said.
He further stated that the administration’s Renewed Hope Agenda is beginning to show measurable progress across several sectors of the economy.
“The politically convenient option would have been to continue postponing reality,” Abbas stated. “But President Tinubu chose reform. He chose reconstruction. He chose long-term national stability over temporary political comfort. And today, Nigerians can see the results of those bold decisions across the country.”
Abbas noted that key economic indicators have improved, pointing out that Nigeria’s Gross Domestic Product growth rose from 2.74 per cent in 2023 to 3.87 per cent in 2025, with projections suggesting further expansion in 2026.
He also disclosed that external reserves had strengthened significantly, increasing from about $4bn in 2023 to over $34bn in net reserves by the end of 2025, while gross reserves surpassed $50bn.
On public finance, the Speaker explained that revenues shared from the Federation Account Allocation Committee increased following the removal of fuel subsidy and reforms in the foreign exchange system. He added that by 2025, total allocations had exceeded ₦22tn, with monthly disbursements in some cases crossing ₦2tn for the first time.
According to him, foreign investment inflows also recorded a strong rebound, rising from $654.65m in the third quarter of 2023 to $5.64bn in the first quarter of 2025, a development he attributed to renewed investor confidence.
Abbas further highlighted ongoing infrastructure projects, including the Lagos-Calabar Coastal Highway, the Sokoto-Badagry Super Highway, the Abuja-Kaduna-Kano Highway, and rail modernisation efforts, describing them as key to unlocking economic growth corridors nationwide.
On security, he noted that budgetary allocations rose from about ₦2.98tn in 2023 to over ₦4.91tn in the 2026 fiscal year, adding that intensified operations against terrorism, banditry, kidnapping, oil theft, and other crimes were producing results.
He also said crude oil production had improved, increasing from an average of 1.44 million barrels per day in 2023 to between 1.75 million and 1.84 million barrels per day.
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In education, Abbas stated that more than 1.3 million students had benefitted from the Nigerian Education Loan Fund, with total disbursements exceeding ₦242bn across tertiary institutions.
He further referenced government efforts in housing, manufacturing, industrial development, and the digital economy, saying these initiatives are aimed at stimulating broad-based economic growth and improving living standards.
While acknowledging ongoing challenges, the Speaker maintained that sustaining current policies would help consolidate gains and deliver more results over time. He also stressed the importance of continuity in governance.
“It is strategically expedient for Nigerians to renew President Tinubu’s mandate in 2027 to enable the completion of the policies, programmes and projects of his administration,” Abbas said.
President Tinubu, who assumed office on May 29, 2023, introduced major reforms shortly after taking office, including fuel subsidy removal and foreign exchange market unification. While the administration maintains that these policies are necessary for long-term stability, they have also contributed to rising living costs and inflation, drawing criticism from opposition groups, labour unions, and civil society organisations.
Despite these concerns, supporters of the administration insist the reforms are beginning to produce positive economic outcomes.
Abbas reaffirmed that the 10th House of Representatives remains committed to supporting legislation and policies aimed at improving citizens’ welfare and strengthening national development.