Health
Democracy Day: Many Nigerians still face economic hardship despite reforms, says Tinubu
Janet Ogundepo
President Bola Tinubu has acknowledged that many Nigerians still face economic hardship despite ongoing infrastructure projects, opportunities for enterprise and employment, and increased exports of small- and medium-scale enterprise products.
He, however, noted that his administration was focused on reducing inflation, expanding food production, creating jobs, improving the standards of living and rebuilding confidence in the economy.
In his Democracy Day address on Friday morning, Tinubu stated that “democracy must be felt in the pocket,” assuring Nigerians that he was focused on “accelerating growth and ensuring the benefits are felt in every home.”
“Across the country, infrastructure projects are connecting producers to markets and creating opportunities for enterprise and employment. The National Agricultural Development Fund is deploying 10,000 tractors over five years. Over 1,000 SMEs have been certified for export. Non-oil exports grew by 21 per cent last year.
“Yet, many Nigerians still face economic hardship. We remain focused on reducing inflation, expanding food production, creating jobs, improving living standards, rebuilding confidence in our economy, and creating conditions for sustainable prosperity.
“We are moving from uncertainty to stability. The next phase is about accelerating growth and ensuring the benefits are felt in every home, every community, and every region. We believe that Democracy must be felt in the pocket,” Tinubu said.
PUNCH Healthwise reports that the rising cost of fuel, cooking gas, transportation, food, house rents and other basic amenities has plunged many Nigerians into severe economic hardship.
The worsening economic situation has pushed many households to buy cheaper, unsafe foods such as rotten tomatoes and peppers, forgo meat, and struggle to meet basic dietary needs. To cope, some workers now sleep in their offices and shops.
The President further stated the reforms introduced since 2023 were necessary to rescue the economy from fiscal challenges, saying public finances were under severe strain before his administration came into office.
He said that the reforms have increased federation revenues, improved fiscal transparency, reduced leakages and provided more resources to states and local governments for infrastructure, education, healthcare and security.
“Since 2023, our reforms have restored stability and credibility to economic management. Federation revenues have risen, providing states and local governments with more resources for infrastructure, education, healthcare, and security. Fiscal transparency has improved, leakage has been reduced, and public funds are better directed to national priorities,” he said.
The President further stated that investor confidence had improved, with increased investments in agriculture, energy, manufacturing, technology, mining, transportation and the creative industry.
Tinubu further noted that the Rural Electrification Agency, with support from the World Bank and the African Development Bank, had expanded off-grid and mini-grid power supply to underserved communities, universities, markets and hospitals.
He declared that the government had prioritised food production through the National Agricultural Development Fund, which he said would deploy 10,000 tractors over five years to support farmers and improve agricultural productivity.
The President also expressed concern over the recent abduction of schoolchildren in Oyo and Borno states, describing the incidents as a reminder that democracy cannot thrive without security.
“Though this year’s mood is dampened by the abduction of our children in Oyo and Borno, we remain hopeful for their safe return. Democracy without security is a mirage,” he said.
The President disclosed that the Federal Government had approved the recruitment of more than 50,000 police officers and thousands of military personnel, while allocating N5.41tn to defence and security in the 2026 budget.
He stated that terror-related deaths have declined significantly, while over 13,000 terrorists were neutralised in the past year.
Reflecting on Nigeria’s democratic journey, Tinubu said the country had sustained 27 uninterrupted years of civilian rule, the longest period of democratic governance in its history.
He urged Nigerians, particularly young people, to remain committed to nation-building and democratic values.
“To our young people: Nigeria is your home and your future. Build here, code here, work here, and vote here. Every great nation was built by those who stayed to solve problems, not by those who abandoned ship,” he said.
Tinubu also conferred national honours on pro-democracy activists, journalists, labour leaders and political figures who played key roles in the struggle for democracy.
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