We’ll Unlock More Remote Jobs, Global Opportunities For Nigerian Youth — Tinubu
…Says External Reserves Surge 500% To $23bn
…As Oil Sector Investment Hits $8bn In Two Years
President Bola Tinubu on Wednesday marked the midterm of his administration with a statement celebrating what he described as “undeniable progress” since assuming office in 2023.
Tinubu outlined economic reforms, infrastructure developments, and youth empowerment programmes that, according to him, are already yielding tangible results.
“There is a deliberate focus on our youth, who a friendlier tax environment for digital jobs and remote work will empower. Through export incentives, Nigerian businesses will be able to compete globally,” Tinubu declared.
The president noted that Nigeria’s external reserves have grown dramatically from $4bn in 2023 to over $23bn by the end of 2024, representing nearly a 500% increase.
He said the improvement comes alongside recovery in the oil and gas sector, with rig counts up by over 400% in 2025 compared to 2021, and over $8bn in new investments committed to the sector.
“Fellow Nigerians, as we mark the second anniversary of our administration, I salute your resilience and undaunted spirit,” Tinubu said, highlighting the challenges he met upon taking office.
He reaffirmed that the removal of fuel subsidy and the unification of the foreign exchange windows were the first necessary steps to prevent the nation from “further drifting into the precipice.”
He asserted that the reforms, though difficult, were important to restoring economic stability. “The only alternative to the reforms our administration initiated was a fiscal crisis that would have bred runaway inflation, external debt default, crippling fuel shortages, a plunging Naira, and an economy in a free-fall,” he stated.
Tinubu mentioned his achievements in two years to include the country’s payment of its IMF obligations, while the debt service-to-revenue ratio has dropped from nearly 100% in 2022 to under 40% in 2024.
“We have stabilised our economy and are now better positioned for growth and prepared to withstand global shocks,” he declared.
On fiscal management, Tinubu noted narrowing of the fiscal deficit from 5.4% of GDP in 2023 to 3.0% in 2024, which he attributed to improved revenue generation and government transparency.
“In the first quarter of this year, we recorded over N6 trillion in revenue,” he disclosed.
Speaking on youth empowerment, Tinubu said his administration is creating a tax environment that supports digital jobs and remote work.
Tinubu added that plans are still ongoing to establish a Tax Ombudsman to protect vulnerable taxpayers and ensure fairness, especially for small businesses, while reaffirming the administration’s resolve to end multiple taxation and provide tax relief for essential goods and services.
“Essential goods and services such as food, education, and healthcare will now attract 0% VAT,” he said.
“Rent, public transportation, and renewable energy will be fully exempted from VAT to reduce household costs further.”
According to the president, the tax-to-GDP ratio rose from 10% to over 13.5% in just one year, driven by targeted reforms aimed at eliminating wasteful waivers and incentivising priority sectors such as manufacturing, technology, and agriculture.
On infrastructure, Tinubu said the federal government is pressing ahead with major road projects across all regions, including the Abuja-Kaduna-Zaria-Kano Dual Carriageway, Lagos-Calabar Coastal Highway, Second Niger Bridge Access Road, and the Bodo-Bonny Road, among others.
In the energy sector, he mentioned improvements in electricity generation, investments in transmission, and off-grid solar projects to power homes, schools, hospitals, and industries.
Touching on health reforms, President Tinubu said over 1,000 Primary Health Centres (PHCs) have been revitalised, with 5,500 more undergoing upgrades.
He also noted that three out of six new cancer centres are ready, and free dialysis services are now available in pilot hospitals.
“Under the Presidential Maternal Health Initiative, over 4,000 women have undergone free cesarean sections,” he added, while also stating an increase in health insurance coverage from 16 million to 20 million within two years.
On education, Tinubu mentioned increased access through infrastructure and the student loan scheme, as well as enhanced deployment of healthcare workers to underserved areas under the Renewed Hope Health initiative.
On Security, he said: “Our administration is committed to the security and safety of our people,” the President said. He acknowledged the efforts of security forces in reclaiming parts of the northwest from bandits, improving highway safety, and rescuing abducted citizens. “Every Nigerian deserves to live without fear.”
Tinubu praised youth-focused programmes implemented by the National Agency for Science and Engineering Infrastructure (NASENI), including electric vehicle assembly, asset restoration, and training of female drone engineers. He said such efforts are central to industrialising Nigeria and positioning young people at the heart of national development.
The president also mentioned progress in agriculture, pointing to support for farmers, stabilisation of food prices, and investments in mechanisation and fertiliser distribution.
Looking outward, Tinubu announced plans to host the Motherland Festival, a cultural and tourism event to showcase Nigeria’s heritage to the world.
He further acknowledged the Nigerians diaspora, citing new initiatives such as the diaspora bond and the non-resident BVN to facilitate engagement and investment.
Concluding, Tinubu expressed optimism about the country’s trajectory. “Our journey is not over, but our direction is clear. So is our resolve to tackle emerging challenges,” he said. “By the Grace of God, we are confident that the worst is behind us. The real impact of our governance objectives is beginning to take hold. The future is bright, and together, we will build a stronger, more inclusive Nigeria that we can all be proud of.”
We’ll Unlock More Remote Jobs, Global Opportunities For Nigerian Youth — Tinubu is first published on The Whistler Newspaper
