President Bola Tinubu has said that his administration’s economic reforms have increased revenue for the Federal, State, and Local Governments, enabling them to better address the country’s development challenges.
He made the remarks on Wednesday while delivering his address to mark Nigeria’s 65th Independence Day.
“Our tough reforms have put more money into the coffers of the Federal and State governments, including Local Governments. As a result of the difficult decisions we made, these governments now have more resources to care for citizens at the grassroots level and address our development challenges,” Tinubu said.
The President explained that the removal of fuel subsidies and the unification of exchange rates ended a corrupt system that benefited only a few while leaving the majority disadvantaged.
He noted that funds saved from these reforms are now being channelled into education, healthcare, national security, agriculture, and critical infrastructure such as roads, power, broadband, and social investment programmes.
“These initiatives will broadly improve Nigerians’ quality of life,” he said, adding that the measures are part of efforts to reset the country for sustainable growth.
