Tinubu Says Economic Reforms Restored Stability in Democracy Day Address

President Bola Ahmed Tinubu on 12 June 2026 defended his administration's economic reforms in a Democracy Day address, saying the measures were required to address fiscal strain and build long-term prosperity. Tinubu linked the date to Nigeria's 1993 democratic milestone. "June 12, 1993, revealed the possibility of a true Nigerian nation.

The heroes of June 12 secured political freedom. Our challenge is to secure economic freedom," he said. He stated that democratic governance must produce visible gains for citizens. "Democracy must be felt in the quality of people's lives - in opportunities for youth, in prosperous farmers, successful entrepreneurs and the dignity of our workers," Tinubu said.

The president said the reforms were adopted out of necessity. "The reforms we are undertaking were not chosen for ease, but for necessity," he said, noting that three years earlier public finances faced severe strain, investment was discouraged, and economic uncertainty threatened the country's future.

Tinubu said his administration's policies have restored stability and credibility to economic management.

He stated that the measures produced higher federation revenues, improved fiscal transparency, reduced leakages, and increased resources for infrastructure, education, healthcare and security. Investor confidence has returned, he said, with investments expanding across agriculture, energy, manufacturing, technology, mining, transportation and the creative industries.

Domestic refining capacity has also increased, strengthening energy security and reducing reliance on imported petroleum products, according to the president.

AllAfrica reported the address from This Day.