Abbas Backs Tinubu’s Reforms, Says Nigeria On Path To Recovery

The Speaker of the House of Representatives, Hon. Abbas Tajudeen, has congratulated President Bola Tinubu on the third anniversary of his administration, saying the government is delivering on its Renewed Hope Agenda and placing Nigeria on a path of long-term stability.

In a goodwill message, Abbas said the reforms introduced by the Tinubu administration were already producing positive structural impacts, urging Nigerians to be patient in assessing their full effect.

He also said it was “strategically expedient” for Nigerians to renew Tinubu’s mandate in 2027 to enable the completion of ongoing reforms, programmes and projects.

“President Tinubu inherited a country on life support. A country on crutches. A country bedeviled by subsidy distortions, exchange rate instability, declining revenues, weakened investor confidence, oil theft, worsening insecurity, and an economy weighed down by years of postponed decisions,” he said.

According to him, the administration chose reform over political convenience, arguing that early decisions were beginning to yield measurable results.

Abbas said Nigeria’s economy had transitioned from fragility to recovery, noting that GDP growth rose from 2.74 per cent in 2023 to 3.87 per cent in 2025, with projections of 4.4 per cent in 2026 from international institutions.

He added that external reserves improved significantly, rising from about $4 billion in 2023 to over $34 billion by end-2025, with gross reserves now above $50 billion — the highest in 13 years.

On fiscal performance, the Speaker said federation revenues had expanded sharply under the reforms, with FAAC allocations rising from about ₦10.9 trillion in 2023 to ₦15.26 trillion in 2024, a 43 per cent increase.

He further stated that cumulative allocations crossed ₦22 trillion in 2025, with monthly disbursements exceeding ₦2 trillion for the first time, while early 2026 figures already show continued growth.

Abbas also said capital inflows rose from $654.65 million in Q3 2023 to $5.642 billion by Q1 2025, describing it as evidence of renewed investor confidence.

On infrastructure, he listed ongoing projects including the Lagos–Calabar Coastal Highway, Sokoto–Badagry Super Highway, Abuja–Kaduna–Kano Highway and rail modernisation projects, saying they are opening new economic corridors nationwide.

He said security spending increased from ₦2.98 trillion in 2023 to over ₦4.91 trillion in the 2026 budget, while operations against terrorism, banditry and oil theft had intensified across the country.

“Operations against terrorism, banditry, kidnapping, oil theft, and organised crime have intensified nationwide,” he said, citing recent joint Nigeria–United States operations against terrorist leaders.

On the oil sector, Abbas said crude production had rebounded from 1.44 million barrels per day in 2023 to between 1.75 and 1.84 million barrels per day due to improved security and reforms.

He also highlighted progress in education, noting that over 1.3 million students had benefited from the Nigerian Education Loan Fund, with disbursements exceeding ₦242 billion across more than 280 tertiary institutions.

In housing, he said the Renewed Hope Cities and Estates Programme aims to deliver 100,000 housing units nationwide, while reforms in manufacturing, taxation and energy were improving industrial competitiveness.

Abbas added that the ICT sector remained a major driver of growth, expanding opportunities in technology, finance, entertainment and entrepreneurship.

He reaffirmed the readiness of the 10th House to work with the Executive arm to improve welfare and security, while calling for stronger cooperation between federal, state and local governments.

The Speaker urged Nigerians to prioritise national unity over political and ethnic divisions, and to continue supporting government efforts aimed at long-term development.