President Bola Tinubu has defended the economic reforms introduced by his administration, insisting they are beginning to produce positive outcomes.
Speaking on Thursday at the maiden State House Media Dinner in Abuja, the former Lagos governor said although the reforms involved “difficult steps”, early indicators suggest notable improvements, including renewed investor confidence.
“The difficult but necessary reforms undertaken by this administration are yielding results. Our economy is stabilising. Public revenues have strengthened significantly,” Tinubu told attendees.
He noted that state governments are now receiving significantly higher allocations to drive development, while foreign reserves have improved and investor confidence is gradually returning.
According to the president, the oil and gas sector is witnessing fresh investments, while the stock market has recorded substantial growth.
“Our foreign reserves have improved considerably. The oil and gas sector is attracting renewed investment. The stock market has witnessed remarkable growth. Key economic indicators are moving in the right direction. Through tax reforms, fiscal reforms, infrastructure investments, and improvements in the business environment, we are laying the foundations for a more competitive, productive, and prosperous economy,” he said.
Tinubu acknowledged that the administration’s work is far from over but maintained that progress is being made.
“The journey is not yet complete, but the direction is clear, and the foundations for long-term growth are being firmly established,” he added.
On security, the president commended the efforts of security agencies, saying his government has sustained a determined and multi-pronged strategy against insecurity.
“Military operations have intensified across several theatres. Intelligence gathering has improved. Inter-agency collaboration has strengthened. Regional and international cooperation has expanded,” he said.
He added that thousands of criminal elements and terrorists have been neutralised, several hostages rescued, and previously threatened communities reclaimed.
Tinubu reaffirmed his administration’s commitment to restoring peace across the country, saying every Nigerian deserves to live and work in safety.
The president also praised the media for its role in strengthening democracy, while urging journalists to uphold accuracy and responsibility in reporting.
He described the media as vital partners in nation-building, noting that while government and the press may appear as adversaries in a democratic setting, both serve the public in different but complementary ways.
“We are adversaries only in the democratic sense, as the media constantly distrust those in power. In nation-building, we are partners,” he said.
Tinubu further pledged to protect press freedom and uphold constitutional guarantees of freedom of expression.