President Bola Tinubu has said that his administration was getting things right by repositioning the nation’s economy assuring the people that the worst was over.

In his speech delivered this morning, the President acknowledged the inconveniences and hardship that accompanied his policies, especially the removal of the fuel subsidy, but assured that resources accruing to the nation from the savings and other incomes would be channelled into provision of infrastructure in the country.

Tinubu, who said he inherited an economy heading towards the precipice, noted that local and international observers have acknowledged the positive results of his reforms, noted that increased resources at the state level would translate into improved livelihood for the people at the grassroots.

Calling on state governors to join hands with the Federal Government in developing the country, the President asserted that the armed forces and security agencies have continued to deal with insecurity across the country.

He said: “Upon assuming office, our administration inherited a near-collapsed economy caused by decades of fiscal policy distortions and misalignment that had impaired real growth. As a new administration, we faced a simple choice: continue business as usual and watch our nation drift, or embark on a courageous, fundamental reform path. We chose the path of reform. We chose the path of tomorrow over the comfort of today.

Less than three years later, the seeds of those difficult but necessary decisions are bearing fruit. “In resetting our country for sustainable growth, we ended the corrupt fuel subsidies and multiple foreign exchange rates that created massive incentives for a healthier 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.

“Fellow Nigerians, we are racing against time. We must build the roads we need, repair the ones that have become decrepit, and construct the schools our children will attend and the hospitals that will care for our people. We have to plan for the generations that will come after us.

We do not have enough electricity to power our industries and homes today, or the resources to repair our deteriorating roads, build seaports, railroads, and international airports comparable to the best in the world, because we failed to make the necessary investments decades ago.

Our administration is setting things right. “I am pleased to report that we have finally turned the corner. The worst is over, I say. Yesterday’s pains are giving way to relief. I salute your endurance, support, and understanding.

I will continue to work for you and justify the confidence you reposed in me to steer the ship of our nation to a safe harbour.” The President reported that the nation’s economy was recovering fast under his administration stating improvement in the GDP by the second quarter, decline in inflation with determination to boost agricultural production.

He listed his government’s achievements to include a record-breaking increase in non-oil revenue, achieving the 2025 target by August with over N20 trillion. In September 2025 alone, we raised N3.65 trillion, 411% higher than the amount raised in May 2023. He reported that the nation’s debt service-to-revenue ratio has been significantly reduced from 97% to below 50%.

“We have paid down the infamous ‘Ways and Means’ advances that threatened our economic stability and triggered inflation. “We have a stronger foreign Reserve position than three years ago. Our external reserves increased to $42.03 billion this September—the highest since 2019.”