President Bola Tinubu has disclosed how he was left with few options when his administration began on May 29, 2023.
Recall that President Tinubu courageously declared the end of the petrol subsidy regime in his inaugural speech as president.
In the following weeks, the president released a slew of reforms that changed the trajectory of things.
However, his Independence Day address, on Wednesday, October 1, 2025, Tinubu stated that “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.”
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The president added that the nation has now turned the corner.
READ ALSO: My Administration Building a Solid Economic Foundation for Nigerians – Tinubu
Tinubu added: “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.”
