By Dare Balogun, 30th May, 2025
News SOCIETY WATCH following for you ; As President Bola Ahmed Tinubu marks two years in office, Nigeria stands at the dawn of a national renaissance — shaped by bold reforms, visionary governance, and an unshakable commitment to a prosperous future.
From sweeping economic changes to critical infrastructure investments and social welfare reforms, the Tinubu administration has delivered measurable progress, laying a solid foundation for long-term development. While challenges persist, the President’s resolve to confront them head-on has repositioned Nigeria on a trajectory of growth and hope.
Economic Reforms: Breaking Barriers, Building a New and sustainable Economy,
Fuel Subsidy Removal & Exchange Rate Unification and tax reform , local government financial autonomy are some of the bold economic decisions Mr. President has taken in order to restore the lost glory of the Country.
In a Word Press Release signed by the National Convener of the Group, Hon. Olusola Olofin who is also the NSITF Management Board Chairman said “One of President Tinubu’s earliest and most courageous decisions was the removal of fuel subsidies — a policy that had drained public resources for decades. This move freed up almost ₦7 trillion annually, redirecting funds toward infrastructure and citizen-focused programs.”
” Equally transformative was the unification of Nigeria’s multiple foreign exchange systems, a bold step that boosted transparency, restored investor confidence, and helped achieve a $6.83 billion balance of payments surplus in 2024 — a historic turnaround.
Fiscal Gains and Revenue Growth
Fiscal reforms have borne fruit. Nigeria’s fiscal deficit dropped from 6.2% to 4.4% of GDP within a year. Government revenue also surged — increasing by over ₦9.1 trillion in the first half of 2024, with non-oil revenues rising by 15%, injecting an additional ₦3 trillion into the national budget. (Reuters, The Bureau Newspaper)
Governance and Federalism: Empowering Institutions
Local Government Autonomy Restored
A landmark Supreme Court judgment in 2024 affirmed the financial autonomy of Nigeria’s 774 local governments, mandating direct federal allocations and ending illegal state interference. This reform is already unlocking development at the grassroots.
Bigger Allocation to States
In response to Nigeria’s fiscal federalism needs, the Tinubu administration approved an increase in the states’ revenue share from 26.72% to 30%, giving sub-national governments more resources to invest in social services and infrastructure.
Human Capital Development: Investing in the Nigerian People
Minimum Wage Increase
To cushion the impact of reforms, President Tinubu approved a new national minimum wage of ₦70,000, up from ₦30,000. This has improved worker morale and purchasing power nationwide.
Student Loan Scheme
The administration established NELFUND (Nigerian Education Loan Fund) and has already disbursed ₦32.8 billion to over 169,000 students, enabling access to higher education for countless young Nigerians. (Capital Post)
Youth Empowerment
Over 150,000 youths have been trained under programs such as the Digital Skills Initiative and National Youth Entrepreneurship Scheme, resulting in the creation of 15,000 new businesses. This is a generational investment in jobs and innovation.
Infrastructure Development: Laying the Physical Backbone
Transportation Projects
Major infrastructure works are in motion, including:
Lagos-Calabar Coastal Highway: ₦1.334 trillion
Access Roads to the Second Niger Bridge: ₦470.9 billion
Lagos-Ibadan Expressway Reconstruction: ₦195 billion
These projects are connecting cities, energizing economies, and creating thousands of jobs. (Capital Post)
Power and Clean Energy
Through a $200 million deal with WeLight, Nigeria is expanding mini-grid electricity access, targeting a rise in renewables from 22% to 50%. The Lagos/Ogun and Abuja transmission projects have added 2,111 MW to the national grid. (Scorecard Media)
Security and Regional Influence: Protecting Nigeria, Leading Africa
Internal Security
In 2024 alone, Nigeria’s security forces:
Neutralized over 8,000 terrorists and bandits
Rescued 8,000 kidnap victims
Partnered with the UK National Crime Agency to create a Multi-Agency Anti-Kidnap Fusion Cell
These efforts have restored confidence in the nation’s ability to protect its citizens. (Capital Post)
Regional Leadership
President Tinubu’s emergence as Chairman of ECOWAS highlights Nigeria’s renewed role as a stabilizing force in West Africa — politically, economically, and diplomatically.
Social Welfare and Market Reforms: Improving Daily Life
₦570 billion released to all 36 states to support vulnerable Nigerians
600,000 nano-businesses empowered with financial grants
₦200 billion Consumer Credit Corporation launched to enable Nigerians buy essential goods with ease
Compressed Natural Gas (CNG) Initiative rolled out to cut PMS importation costs by over ₦2 trillion monthly
Import duty waivers granted on food and medical supplies to reduce inflation
Farmers supported with equipment from Brazil, Belarus, and the U.S.
NYSC allowances increased from ₦33,000 to ₦77,000
Addressing Inflation and Economic Pain: Relief in Motion
Though reforms have triggered temporary inflation, the Tinubu administration has taken swift steps:
$2.25 billion World Bank support package launched
Interest rate adjustments to stabilize inflation
Targeted food security measures and subsidies to ease the cost of living
(Financial Times, AP News)
Conclusion: A President Focused on Legacy, Not Politics
President Bola Ahmed Tinubu’s two years in office reflect the character of a true reformer — not afraid to make hard decisions, willing to invest political capital for the sake of national progress. His administration has not only dismantled economic bottlenecks but is actively rebuilding the Nigerian dream for future generations.
As we look ahead, the message is clear: Nigeria is on the rise. The vision is working. And with continued support, the Renewed Hope Agenda will deliver even greater dividends.”
