President Bola Tinubu has defended the economic reforms introduced by his administration, insisting they are beginning to deliver positive results and laying the foundation for long-term national growth. Tinubu made the remarks on Thursday, July 2, during the maiden State House Media Dinner in Abuja, where he said the government's difficult policy decisions were stabilising the economy and restoring investor confidence.
Reforms Yielding Results
"The difficult but necessary reforms undertaken by this administration are yielding results. Our economy is stabilising. Public revenues have strengthened significantly," the president said. He added that state governments are now receiving substantially higher allocations to support development, while foreign reserves have improved and investor confidence is gradually returning.
According to Tinubu, the oil and gas sector is witnessing renewed investment, the stock market has recorded significant growth, and key economic indicators are showing positive trends. "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.
Ongoing Journey
The president acknowledged that the reform process was still ongoing but maintained that the country was moving in the right direction. "The journey is not yet complete, but the direction is clear, and the foundations for long-term growth are being firmly established," he said.
Security Improvements
Tinubu also highlighted his administration's efforts to tackle insecurity, saying the government has adopted a determined and multi-dimensional strategy to combat terrorism, banditry, kidnapping, crude oil theft and other criminal activities. He said military operations have intensified across several theatres, while intelligence gathering, inter-agency collaboration and regional and international cooperation have all improved.
"As a result, thousands of criminal elements and terrorists have been neutralised. Numerous hostages have been rescued. Communities previously under threat have been reclaimed. Security agencies continue to demonstrate courage and professionalism in confronting terrorism, banditry, kidnapping, oil theft and other forms of criminality," he said.
The president reaffirmed his administration's commitment to restoring peace and security across the country. "We remain resolute in our commitment to securing every part of our country and ensuring that every Nigerian can live, work, and prosper in peace," he added.
Media Role
Tinubu also commended the Nigerian media for its role in strengthening democracy but urged journalists to exercise accuracy and responsibility in their reporting. He cautioned the media to "report and inform with care and accuracy to facts and in a manner that ensures the society is not set on fire."
Describing the media as partners in nation-building, Tinubu said the relationship between the government and the press should be viewed within the context of democratic accountability. "We are adversaries only in the democratic sense, as the media constantly distrust those in power. In nation-building, we are partners," he said.
"Government exists to serve the people through leadership, policy and public service. The media exists to serve society by watching those entrusted with power, asking difficult questions and holding government accountable. The Nigerian people have deliberately assigned us these roles."
The president also reaffirmed his administration's commitment to protecting press freedom and freedom of expression. "My administration remains fully committed to the constitutional guarantees of freedom of expression and press freedom as enshrined in Sections 22 and 39 of the Constitution of the Federal Republic of Nigeria," he said.
