Three years ago, Nigerians gave me the honour of leading this nation during a critical turning point in our history. I took on that responsibility with full knowledge of the difficulties ahead but firm belief in the strength of our people.
Today marks the third anniversary of this administration. I speak to you not just as your President but as a Nigerian who understands the real hardships families have endured and shares your desire for genuine progress.
When we took office, the country faced severe economic and structural problems. Fiscal pressures were mounting dangerously.
Fuel subsidies were unsustainable and draining resources at an alarming rate.
Exchange rates were badly distorted. Debt-servicing costs kept climbing.
Insecurity plagued several regions while energy supply remained inadequate and public trust in institutions had eroded significantly.
During the peak of the subsidy era, Nigeria spent ₦18.4 billion every single day on petrol subsidies. That amounted to over ₦4 trillion in 2022 alone.
Those funds could have built roads, hospitals, schools, homes, and vital infrastructure instead. Corruption from multiple exchange rate windows and forex manipulation cost Nigeria more than ₦8 trillion across three years.
The nation demanded swift and bold action. Hard choices had to be made to rescue our economy and prevent total collapse.
Easy decisions would have been politically attractive.
But true leadership requires courage. It demands making the right call even when it's unpopular and costly.
Without intervention, Nigeria would have spiralled toward financial breakdown and deepening poverty. We chose reform over decline and action over passivity.
We prioritised long-term recovery over immediate relief.
Those choices carried real costs. Living expenses rose sharply from our policies, squeezing families, workers, and businesses hard.
Young job seekers felt the pain most acutely.
Many Nigerians wondered if these sacrifices would actually pay off. I understand those doubts completely.
But I'm telling you now: Nigeria has stabilised and is moving forward.
Across every region, concrete progress is visible. Our economy is now stronger and more competitive than it was just last year.
Public finances are improving steadily.
State and local governments have more money to spend on their people. Investors are becoming confident again.
Our stock market has surged dramatically.
The All Share Index jumped from 53,000 in 2023 to a record 250,000 this year. Market capitalisation rose from ₦30 trillion to ₦160 trillion in the same period.
Companies are posting record earnings and paying shareholders generous dividends. Over 2,700 kilometres of highways are being built, rebuilt, or upgraded right now.
Major projects include the Lagos-Calabar Coastal Highway and the Sokoto-Badagry Super Highway. The Abuja-Kaduna-Zaria-Kano Road and the East-West Road are advancing rapidly.
Hundreds of rural access roads are also under construction nationwide. Many sections are already finished or nearly complete, transforming how Nigerians travel and conduct business.
