The Speaker of the House of Representatives, Tajudeen Abbas, has congratulated President Bola Tinubu on the third anniversary of his administration, describing the President’s economic and governance reforms as bold decisions capable of laying the foundation for long-term national stability and growth.
Abbas, in a statement issued on Friday by his Special Adviser on Media and Publicity, Musa Krishi, said Tinubu inherited a country facing deep economic and structural challenges but opted for difficult reforms rather than “politically convenient” decisions.
“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.
According to him, the administration’s policies under the Renewed Hope Agenda are already yielding measurable results across key 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.”
The Speaker cited improvements in economic indicators, noting that Nigeria’s Gross Domestic Product growth rose from 2.74 per cent in 2023 to 3.87 per cent in 2025, while international financial institutions project further growth in 2026.
He also said the country’s external reserves had improved significantly, rising from about $4bn in 2023 to over $34bn in net reserves by the end of 2025, with gross reserves exceeding $50bn.
Abbas further highlighted gains in public finance, saying allocations from the Federation Account Allocation Committee increased substantially following the removal of fuel subsidy and reforms in the foreign exchange market.
“By 2025, cumulative allocations had crossed ₦22tn, with several months exceeding the historic ₦2tn mark for the first time in Nigeria’s history,” he said.
The Speaker added that foreign investment inflows had also improved, rising from $654.65m in the third quarter of 2023 to $5.64bn in the first quarter of 2025.
According to him, the increase reflects growing investor confidence and is expected to translate into more factories, jobs and opportunities for Nigerian businesses.
On infrastructure, Abbas pointed to ongoing projects such as the Lagos-Calabar Coastal Highway, the Sokoto-Badagry Super Highway, the Abuja-Kaduna-Kano Highway and rail modernisation efforts, describing them as critical to opening up economic corridors across the country.
He also defended the administration’s security spending, noting that allocations to defence and security rose from about ₦2.98tn in 2023 to more than ₦4.91tn in the 2026 budget.
“Operations against terrorism, banditry, kidnapping, oil theft and organised crime have intensified nationwide,” he said, adding that joint operations involving Nigerian and international security agencies had recorded successes against terrorist groups.
The Speaker further stated that crude oil production had improved under the Tinubu administration, rising from an average of 1.44 million barrels per day in 2023 to between 1.75 million and 1.84 million barrels per day.
In the education sector, Abbas said more than 1.3 million students had benefited from the Nigerian Education Loan Fund, with disbursements exceeding ₦242bn across tertiary institutions nationwide.
He also highlighted government interventions in housing, manufacturing, industrial development and the digital economy as evidence of efforts to stimulate growth and improve living conditions.
While acknowledging ongoing economic and security challenges, the Speaker maintained that the administration remained committed to addressing them through long-term strategies.
He argued that continuity would allow the government to consolidate its reforms and complete ongoing projects.
“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.
Tinubu, who assumed office on May 29, 2023, introduced major economic reforms shortly after inauguration, including the removal of fuel subsidy and the unification of the foreign exchange market. While the administration insists the measures are necessary to stabilise the economy, the policies have also triggered rising living costs and inflation, drawing criticism from opposition parties, labour unions and civil society groups.
Despite the criticism, supporters of the administration argue that the reforms are beginning to produce positive fiscal and economic outcomes that could benefit the country in the long term.
Abbas reaffirmed the commitment of the 10th House of Representatives to supporting policies and legislation aimed at improving the welfare of Nigerians and strengthening national development.
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