President Bola Ahmed Tinubu has declared that the removal of fuel subsidy by his administration saved Nigeria from imminent bankruptcy and set the nation on the path of economic recovery, growth, and long-term prosperity.
Speaking on Friday while hosting state governors who paid him a Sallah visit and joined in commemorating the third anniversary of his administration, President Tinubu said the courageous decision to end the fuel subsidy regime was necessary to avert fiscal disaster and restore confidence in Nigeria’s economy.
The gathering was attended by the Governors of Lagos, Nasarawa, Jigawa, Sokoto, Kebbi, Taraba, Niger, Ekiti, Delta, Ondo, Edo, Adamawa, Benue, Enugu, Ogun, and Kogi States, as well as the Deputy Governors of Borno and Kano States.
President Tinubu acknowledged the initial hardship associated with the policy but maintained that history had vindicated the administration’s decision.
“It was challenging at the time, but we survived. We faced litigation and accusations. We survived them. Instead of bankruptcy, Nigeria survived. The economy has recovered. It is growing. Agriculture is booming,” the President said.
He noted that for decades, billions of naira were spent on an unsustainable subsidy system that benefited a privileged few while depriving critical sectors such as infrastructure, agriculture, healthcare, and education of much-needed investment.
Highlighting the impact of ongoing reforms, President Tinubu pointed to major infrastructure projects, renewed agricultural expansion, fiscal discipline, and improved economic indicators as evidence that the difficult decisions taken since May 2023 were yielding tangible results.
“Many of you have sustained hope among our people and encouraged them to trust this government. You have built confidence around our collective vision for a better Nigeria, and I thank you,” he told the governors.
The President commended Nigerians for their patience, resilience, and unwavering support throughout the reform process, assuring them that the administration would remain focused on delivering policies that improve livelihoods, create jobs, strengthen food security, and promote inclusive growth.
President Tinubu also praised the strong partnership between the Federal Government and the states, describing it as a key factor in stabilising the economy and expanding development across the country.
“I’m glad governors are no longer borrowing from the Federal Government to pay salaries and meet basic obligations. You kept the spirit alive. You persuaded our people to endure these painful but necessary reforms as we reset the economy. Today, the benefits are becoming visible.
“The economy has recovered. Macroeconomic indicators are improving. Roads and infrastructure projects are progressing. Previously abandoned projects have been revived. The housing sector is gaining momentum, and agriculture will flourish once again. We will achieve food sovereignty if we effectively utilise the vast agricultural land across our states,” he said.
Vice President Kashim Shettima described President Tinubu’s leadership as one defined by courage, conviction, and a determination to confront long-standing structural challenges that previous administrations avoided.
“Your Excellency, this is the essence of leadership. You did not inherit a nation in a season of ease. You inherited a nation that required difficult decisions and bold action.
“When history presented the moment of truth, you did not postpone the surgery. You confronted the contradictions that had held this country hostage for decades. That is the miracle of your courage.
“What you have done goes beyond administering a government. You have embarked on the difficult task of rebuilding a nation and securing its future,” the Vice President said.
Speaking on behalf of the Nigeria Governors’ Forum, Kwara State Governor AbdulRahman AbdulRazaq applauded the President’s reform agenda, noting that it had significantly strengthened the financial position of states across the federation.
He stated that increased revenues resulting from subsidy removal and fiscal reforms had enabled states to clear salary backlogs, settle pension obligations, reduce debt burdens, and undertake landmark developmental projects.
“The nation was initially shocked by the boldness of the decision, but today Nigerians are seeing the benefits.
“Many states that previously depended on borrowing and bond issuances are now reducing their debts and expanding development programmes. The impact of these reforms is evident across the country,” AbdulRazaq said.
Chairman of the Progressive Governors Forum and Governor of Imo State, Hope Uzodinma, also praised President Tinubu for steering Nigeria away from economic collapse and restoring stability to national governance.
“We are among the frontline beneficiaries of the innovative leadership you have brought to governance. You have rescued Nigeria from the brink of collapse and restored stability, confidence, and hope.
“Having carefully assessed your performance over the past three years, we proudly score your administration 100 percent. We thank you for your vision, your courage, and your unwavering commitment to the future of Nigeria,” Uzodinma said.
Earlier, Lagos State Governor Babajide Sanwo-Olu welcomed his colleagues and thanked them for their steadfast support of President Tinubu’s administration, urging them to sustain the momentum as the government consolidates the gains of its reforms.
The visit underscored growing consensus among state leaders that President Tinubu’s bold economic reforms, though difficult in the short term, have repositioned Nigeria for sustainable growth, stronger public finances, and a more prosperous future.