President Bola Tinubu has reaffirmed his administration’s unwavering commitment to strengthening the productive base of the Nigerian economy.
He made this known during a joint session of the National Assembly to commemorate Democracy Day 2025 on Thursday.
According to Mr Tinubu, the government is driving this transformation through investments in critical infrastructure, including roads, the expansion of port operations, rail, and power.
He added that these efforts are aimed at creating a new environment in which industry and manufacturing can thrive.
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He further noted that ongoing tax and fiscal policy reforms are designed to streamline tax administration and eliminate burdensome and multiple taxation, thereby enabling industrialists and entrepreneurs to operate in a more conducive economic climate.
The former Lagos State Governor also emphasised that governance must be effective and deliver tangible value to the people.
“As part of our tax reforms, we have provided small businesses with an exemption and established the Office of the Tax Ombudsman to ensure transparency and protect taxpayer rights. Digital tools now help us track performance and reduce waste. The Diaspora Bond and Non-Resident BVN are bringing Nigerians abroad into the national development fold.
“In line with my promise during my New Year address to the nation, I recently appointed the board of directors of the newly established National Credit Guarantee Company. The company backed with 100 billion naira in initial capital; with BOI, which, by the way, is performing very well in supporting SMEs, NSIA, CreditCorp, and MOFI as stakeholders, will play a significant role in transforming the nation’s industrial landscape and reducing corruption.”
Additionally, he noted that, under the umbrella of national security, his administration had intensified security operations to reclaim communities from criminals and terrorists.
Mr Tinubu stated that Nigeria had become more effective in coordinating intelligence, with improved inter-agency cooperation. “Our highways are safer, and we invest in technology and training to secure every inch of this country”, he said.
“Let us take this opportunity to thank the men and women of our Armed Forces for their bravery in service of the nation. Their selfless dedication to protecting our sovereignty and ensuring the safety of citizens should serve as an inspiration to us all. As we celebrate the progress of our democracy, we must not forget the pivotal role they play in safeguarding our freedoms. For their courage and commitment, they deserve not only our gratitude but also our continued support, prayers and recognition.
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“Fellow compatriots, our achievements are not the work of one man. They are the result of a collective effort to make possible the Nigerian Dream. Yet, the journey is not over. We must work even harder to translate broad macroeconomic gains into tangible improvements in the lives of ordinary Nigerians. We must stay the course, reject cynicism, and believe Nigeria can and will rise again.
“As we mark a twenty-sixth year of unbroken democracy, it is right to honour those who have made sacrifices in the past, braving all the odds and the guns to ensure we have a regime of democracy in our country.”
