Nigeria At 65: Tinubu Says Tough Economic Reforms Have Increased Resources, States, LGs Now Better Positioned To Serve Citizens

Abuja,  Nigeria– President Bola Tinubu has said that his administration’s tough economic decisions have provided more resources for state and local governments to address the needs of Nigerians at the grassroots level.

Tinubu made the remarks on Wednesday during a live broadcast to the nation in commemoration of Nigeria’s 65th Independence Day.

The president noted that his government ended the fuel subsidy regime and abolished multiple foreign exchange rates, which he described as major sources of corruption that largely benefited a few at the expense of the majority.

He explained that the removal of subsidies and reforms in the foreign exchange market have redirected funds to critical sectors, including education, healthcare, national security, agriculture, infrastructure, and social investment programmes.

Tinubu assured Nigerians that his administration remains committed to building an inclusive economy that prioritises the welfare of citizens across all levels of society.

“In resetting our country for sustainable growth, we ended the corrupt fuel subsidies and multiple foreign exchange rates that created massive incentives for a rentier economy, benefiting only a tiny minority. At the same time, the masses received little or nothing from our Commonwealth. Our administration has redirected the economy towards a more inclusive path, channelling money to fund education, healthcare, national security, agriculture, and critical economic infrastructure, such as roads, power, broadband, and social investment programmes. These initiatives will generally improve Nigerians’ quality of life. As a result of the tough decisions we made, the Federal and State governments, including Local Governments, now have more resources to take care of the people at the lower level of the ladder, to address our development challenges,” he added.