President Bola Tinubu has announced that the economic reforms implemented since he assumed office are beginning to show positive outcomes.

While acknowledging the difficulties these policies have caused for Nigerians, the President emphasized that they were necessary to pull the country back from the brink of economic and social collapse.

Tinubu’s remarks were delivered at the 34th and 35th convocation ceremonies of the Federal University of Technology, Akure (FUTA), where he was represented by the Vice-Chancellor of the University of Ilorin, Professor Wahab Egbewole.

During his address, Tinubu highlighted a significant shift in the nation’s economic trajectory, noting that Nigeria is transitioning from a consumption-driven economy to one focused on production and self-reliance.

The President appealed to Nigerians for patience and understanding as his administration works to stabilize the country.

He reassured citizens that his government remains open to constructive criticism while striving to implement policies that benefit all.

Tinubu also reiterated his commitment to prioritizing the well-being of future generations, explaining that key decisions, such as the removal of the fuel subsidy and the unification of exchange rates, were taken to address deep-rooted economic challenges.

He said, “These reforms were essential to secure the future of our children and reposition the country on the path of sustainable growth.

I am fully aware of the hardships caused by these measures and sincerely wish there were less painful alternatives.

However, they were necessary to rescue our economy and ensure long-term prosperity.”

Tinubu pointed out that while macroeconomic indicators are showing signs of improvement, the impact on individual households—the microeconomy—will take time to fully manifest.

He expressed optimism, stating that gradual progress is being made, and citizens will soon begin to feel tangible benefits.

“Every household will, by the grace of God, experience an improved quality of life and greater hope for the future,” he assured.

The President also addressed the issue of national security, affirming his administration’s dedication to protecting Nigerians in all regions.

“We are working tirelessly to ensure the safety and security of every Nigerian.

Our revamped security architecture is yielding results, and the dark days of insecurity are becoming a thing of the past.

We remain focused on building a nation where everyone can thrive in peace and prosperity,” Tinubu added.

Professor Wahab Egbewole, who represented Tinubu at the event, commended FUTA for its contributions to national development through innovation and technology.

He encouraged the graduating students to apply their skills toward solving societal challenges, noting that the country’s economic transformation depends heavily on youth empowerment and technological advancement.

The removal of the fuel subsidy earlier this year was one of Tinubu’s most controversial decisions.

While it caused an immediate spike in fuel prices and transportation costs, his administration argued that the funds previously spent on subsidies could now be redirected toward critical infrastructure and social programs.

Similarly, the unification of exchange rates aimed to reduce market distortions and attract foreign investment, though it initially led to inflationary pressures.