MidTerm Assessment: President Tinubu Boasts of “Undeniable Progress”
President Bola Ahmed Tinubu, today, May 29, 2025, delivered a nationwide address commemorating the second anniversary of his administration. He emphasized the strides made under his leadership, stating, “Despite the bump in the cost of living, we have made undeniable progress” .
President Tinubu highlighted a decline in inflation rates and a reduction in the prices of staple foods such as rice, beans, and garri. He attributed these improvements to the administration’s economic reforms aimed at stabilizing the economy and promoting growth .
The President noted a significant narrowing of the fiscal deficit from 5.4% of GDP in 2023 to 3.0% in 2024. He also mentioned that gross revenues in the first quarter of 2025 exceeded ₦6 trillion, reflecting enhanced fiscal discipline and revenue generation .
Tinubu reported a resurgence in the oil and gas sector, with rig counts increasing by over 400% in 2025 compared to 2021. He also announced over $8 billion in new investments secured in the sector . He added that his administration has discontinued the practice of Ways & Means financing, which had previously contributed to high inflation. This move is part of broader efforts to instill fiscal discipline and stabilize the economy .
While the President’s address highlighted various achievements, reactions have been mixed. Supporters commend the administration’s efforts in implementing necessary reforms and stabilizing the economy. However, critics point to ongoing challenges such as high inflation rates, currency devaluation, and a significant cost-of-living crisis affecting many Nigerians .
Opposition parties, including the Peoples Democratic Party (PDP) and the Labour Party (LP), have expressed skepticism regarding the claimed progress, citing persistent economic hardships and security concerns .
As Nigeria grapple the complexities of economic reform and recovery, the administration’s policies and their impacts remain subjects of national discourse.
