The Tinubu Media Support Group (TMSG) has described President Bola Tinubu’s self-assessed two years of his economic policies as an honest portrait of the second anniversary of his administration.
This, according to the group, is because he acknowledged that the pains of the reforms were necessary conditions for the forthcoming gains, which he maintained had saved the nation from financial crisis.
In a statement signed by its Chairman Emeka Nwankpa and Secretary Dapo Okubanjo, TMSG noted that as painful as the reforms have been, they have proved to be necessary to reset the country.
“Like many Nigerians, we woke up on Thursday to see a personally signed statement by President Bola Tinubu to commemorate his second year in office in which he emphasized the ‘undeniable progress’ ‘recorded by his administration
“And like he had previously done, he once again acknowledged the effects of the twin policies of fuel subsidy removal and harmonization of multiple foreign exchange rates to show that he’s fully aware of the reality of the average Nigerian.
“But the President also left no doubt about his readiness to stay the course, especially as he reeled out a progress report on what his administration had been able to achieve within two years.
“For the avoidance of doubt, available credible facts show that inflation has indeed started to ease, the oil and gas sector is recovering, and the country’s debt position is improving especially as all debt obligation to IMF has been met while net external reserves have improved by nearly 500% from $4 billion in 2023 to over $23 billion by the end of 2024.
“In addition, the health sector is being revitalized with over 1,000 Primary Health Centres (PHCs) nationwide currently having a new lease of life while an additional 5,500 PHCs are being upgraded.
“For us, President Tinubu’s run down of achievements, which he described as undeniable progress, compares favourably with the assessment of the influential international business publication, Finance Times, which said in a May 28 editorial that Nigeria has turned a corner.
“In its words, ‘Halfway through the first presidential term of Bola Tinubu, who completes two years in office this Thursday, Nigeria is in better shape than at any time in the past decade’
“And just like the President’s optimism of greater things to come, FT added that the administration ‘has stabilised the economy and laid the groundwork for a broader recovery.’
“We also agree with President Tinubu’s summation of an improvement in Nigeria’s financial position, which has also made it possible for the subnationals to meet their obligations to the people.
“And now that the tax reform bills have been passed into law, we eagerly look forward to a new tax regime that will further create a more positive impact on the welfare of the people without necessarily adding to the burden of the citizenry.
“This is because there are provisions that will eliminate multiple taxation and make it easier for small businesses to thrive while also ensuring that the tax net is widened enough for Nigeria to meet the administration’s 18% tax-to-GDP target or move closer to Sub-Saharan Africa’s average of 15% from the 10% it inherited. It now stands at 13% in two years.
“We know that national attention is gradually shifting towards politics ahead of the 2027 election but we are convinced that the tax reforms will make it easier for the Tinubu government to build on the achievements it recorded in its first two years in office.
“We also dare say that there is no way of determining the nation’s progress on President Tinubu’s watch without mentioning the huge infrastructural renewal, especially in the area of road projects. It is fair to posit that the nation is currently opening major road arteries that carry huge vehicular and economic benefits for the unity and prosperity of over 230 million Nigerians and generations yet unborn.
“So it was not surprising that the President mentioned the Abuja-Kaduna-Zaria-Kano dual carriageway, the 9th mile-Oturkpo-Makurdi Road, the Lagos-Calabar Coastal Highway, Abuja-Lokoja-Benin Road, Enugu-Onitsha Expressway, Oyo-Ogbomoso Road, Sokoto-Badagry Road, Enugu-Port Harcourt Expressway, Second Niger Bridge Access Road to Bodo-Bonny Road among other ongoing road projects across the country.
“We make bold to say that only petty political consideration will make anyone deny that there has been monumental progress in the first two years of the Bola Tinubu administration.”
The group added that it expects the visionary administration to build on what it has achieved so far in the coming years months and years.
