Speaker of the House of Representatives, Tajudeen Abbas, has praised President Bola Tinubu for making tough economic and governance decisions on the third anniversary of his administration, saying the President prioritised long-term national stability over short-term political gains.
In a statement issued on Friday by his Special Adviser on Media and Publicity, Musa Krishi, Abbas congratulated Tinubu and highlighted the bold reforms implemented under the Renewed Hope Agenda.
“President Tinubu inherited a country on life support, a country on crutches, 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.
Abbas noted that instead of continuing with politically convenient but unsustainable measures, Tinubu opted for genuine reforms and reconstruction.
“The politically convenient option would have been to continue postponing reality. 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,” he added.
The Speaker pointed to several positive outcomes, including:GDP growth rising from 2.74% in 2023 to 3.87% in 2025, with projections for further improvement in 2026.
External reserves strengthening significantly, from about $4 billion in 2023 to over $34 billion in net reserves (and gross reserves exceeding $50 billion) by the end of 2025.
Increased Federation Account allocations, surpassing ₦22 trillion cumulatively by 2025, with some months exceeding ₦2 trillion for the first time.
Foreign investment inflows jumping from $654.65 million in Q3 2023 to $5.64 billion in Q1 2025.
Improved crude oil production, from an average of 1.44 million barrels per day in 2023 to between 1.75 and 1.84 million barrels per day.
Higher defence and security allocations, rising to over ₦4.91 trillion in the 2026 budget.
Education initiatives, such as the Nigerian Education Loan Fund benefiting over 1.3 million students with more than ₦242 billion disbursed.
Abbas also highlighted major infrastructure projects like the Lagos-Calabar Coastal Highway, Sokoto-Badagry Super Highway, Abuja-Kaduna-Kano Highway, and rail modernisation efforts as key to unlocking economic potential.
While acknowledging that challenges remain, the Speaker defended the administration’s direction and called for continuity.
“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,” he said.
Tinubu assumed office on May 29, 2023, and quickly introduced major reforms, including the removal of fuel subsidies and unification of the foreign exchange market.
Supporters argue these steps are laying a stronger foundation for the economy, despite short-term hardships such as rising inflation and cost of living pressures.
Abbas reaffirmed the 10th House of Representatives’ commitment to supporting legislative efforts that promote national development and the welfare of Nigerians.
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