In his second anniversary speech, Nigerian President Bola Tinubu defended his administration's economic reforms, stating they are making progress towards a stable economy. Since taking office, he has devalued the naira and cut subsidies, resulting in high inflation over 23%, but the World Bank noted Nigeria's highest economic growth in a decade. While Tinubu asserts security has improved, citizen unrest due to soaring living costs has led to protests and violent clashes with law enforcement, with some demonstrators facing severe charges including treason.
"Our economic reforms are working. We are on course to building a greater, more economically stable nation," Tinubu said in the remarks marking his second anniversary in office.
"Despite the bump in the cost of living, we have made undeniable progress. We have stabilized our economy and are now better positioned for growth and prepared to withstand global shocks."
The World Bank recently said Nigeria witnessed its highest economic growth in 10 years amid Tinubu's reforms, despite continuing high inflation and economic challenges.
Nigerians have taken to the streets over high consumer prices, leading to violent protests and government responses, including arrests and treason charges against some demonstrators.
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