Speaker of the House of Representatives Abbas Tajudeen, has congratulated the President and Commander-in-Chief of the Armed Forces, Bola Tinubu, on the occasion of his second year anniversary in office.
The Speaker is convinced that Nigeria is on track under the APC-led administration.
He therefore urged Nigerians to continue to lend support to the President Tinubu-led government as it implements bold reforms for short and long-term gains.
The Speaker said President Tinubu has demonstrated good leadership and courage from the first day he assumed office when he committed to lift the nation’s economy by six per cent annually, rationalise the foreign exchange market, generate jobs, and confront insecurity.
He commended President Tinubu for removing the petrol subsidy in his inauguration speech, describing it as “a policy that once drained over $10 billion each year, realising savings exceeding ₦1 trillion within two months.”
He noted that the administration harmonised exchange rates, aligning the Naira with market forces, a strategy, he said triggered short-term inflationary pressures, and has drawn well over six billion US dollars in foreign inflows and restored confidence in the currency.
The Speaker added that the World Bank has confirmed that the real GDP growth for 2024 reached its highest level since 2015, driven by a resilient non-oil sector and fortified public revenues. The appropriation of ₦54.99 trillion for 2025 reflects the National Assembly’s conviction in these revenue projections and underscores the administration’s commitment to health, education, and infrastructure.
Mr. Tajudeen expressed delight that, Nigeria has steered inflation, once surging past 40 per cent, down to 23.7 per cent through a meticulous rebasing of the country’s statistical framework, signalling that the initial price shocks are abating.
“Meanwhile, foreign-exchange reserves have climbed beyond US $40 billion, anchored by record oil output exceeding 2.3 million barrels per day and steady capital inflows. This financial buffer underpins the resilience of our economy against global shocks and reinforces the stability of the Naira.”
He also acknowledged the President’s infrastructure agenda, which has also gained momentum, citing the recent economic and nuclear energy pact with China that has unlocked collaboration in solar research and electric-vehicle assembly, while the Belt and Road partnership is already modernising ports, roads, and power projects nationwide.
In the area of security, the Speaker noted that President Tinubu has injected fresh resolve into Nigeria’s defence architecture.
The House’s swift approval of emergency measures in Rivers State earlier this year demonstrates parliament’s commitment to protecting critical assets and maintaining order.
He added that complementary legislation to empower the nascent Nigerian Forest Security Service will harness local knowledge to secure rural frontiers and safeguard our natural resources.
