President Bola Ahmed Tinubu on Thursday declared that the economic reforms introduced by his administration are yielding positive results, despite growing criticism over widespread hardship and a soaring cost of living.
Speaking at the All Progressives Congress (APC) National Summit held at the State House Banquet Hall in Abuja, the president defended his policy decisions, insisting they are in Nigeria’s best interest.
“Two years ago, we embarked on this journey, propelled by a bus of hope and abiding faith in Nigeria,” Tinubu said. “Today, I am proud to affirm that our economic reforms are working. There’s nothing good that comes easily. The subsidy is gone and was gone for the good of this country.”
Since assuming office in May 2023, Tinubu has launched sweeping reforms aimed at stabilizing Nigeria’s battered economy, including ending fuel subsidies and unifying exchange rates. While these policies have been praised by international institutions like the IMF and World Bank, they’ve also sparked outrage at home, where millions of Nigerians are grappling with record inflation and deepening poverty.
According to recent World Bank and IMF data, nearly half of Nigeria’s population was living in poverty in 2024, with food and energy prices skyrocketing beyond the reach of average citizens.
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Despite mounting public frustration, Tinubu doubled down on the reforms, saying his government was focused on long-term economic revival rather than short-term populism.
Meanwhile, the APC used the summit to endorse Tinubu as its sole presidential candidate for the 2027 election. APC National Chairman Abdullahi Ganduje made the declaration before a gathering of governors, ministers, and top party officials.
“As the chairman of the party and on behalf of the National Working Committee, I hereby affirm the various endorsements and declare President Bola Tinubu as the sole presidential candidate of the APC,” Ganduje said.
The endorsement, while unsurprising, signals the party’s intent to consolidate around Tinubu despite the controversial reforms and their impact on daily life.