PBAT@73: A Leader Of Bold, Audacious Tenacious Reforms and Renewed Hope

By Hon. (Dr.) Olubunmi Tunji-Ojo, Minister of Interior

The world stood still on Monday, May 29, 2023, when President Bola Ahmed Tinubu (GCFR) made the now-famous “Subsidy is gone” declaration at Eagle Square, Abuja, in his first address to the nation upon his inauguration as the 16th President of Nigeria, the biggest black nation on earth.

This declaration not only caught everyone by surprise, but observers, analysts, and commentators were also stunned and wondered how much courage the President had mustered before uttering those three words. “Did the President know what he had just said?” many asked.

But today, we can all testify to the stability and growth within Nigeria’s oil and gas sector. In other words, the average Nigerian enjoyed a festive period without queues at fuel stations across the country in December 2023, and this trend continues. Nigeria has already bid farewell to “Egypt,” symbolizing its emergence from a period of hardship.

Leadership is neither a title nor an office; it is an act of responsibility, a burden borne by those courageous enough to chart a new course for their people. In President Bola Ahmed Tinubu, Nigeria has found a leader whose governance philosophy is built on the foundations of resilience, reform, and renewal. Since assuming office, he has made the difficult decisions others feared to confront, prioritizing long-term stability over short-term populism.

The measure of a leader is not in comfort but in adversity. He took office at a time of economic turbulence, structural inefficiencies, and social discontent. Yet, rather than retreat, he advanced—ushering in policies that, while bold and sometimes uncomfortable, are shaping a Nigeria that is stronger, more stable, and primed for sustainable growth.

This is not just the passing of another year in the life of a statesman; it is a moment to reflect on the breadth of his reforms, the depth of his vision, and the courage with which he has navigated one of the most challenging periods in our nation’s history. Upon assuming office, President Tinubu faced economic challenges, including policy inconsistencies, unsustainable debt, and a distorted forex market.

His administration swiftly addressed these issues. Today, one of his boldest moves was removing fuel subsidy to save trillions of naira for infrastructure, health, social safety nets and education just to mention a few. He also rallied the Central Bank of Nigeria to unify the exchange rate, restoring investor confidence by clearing $5 billion in forex obligations. Government revenue has doubled to over ₦9 trillion, while debt servicing costs dropped from 97% to 68%.

In the oil and gas sector, production rose to 1.61 million barrels per day, and the Port Harcourt Refinery resumed operations. His Compressed Natural Gas (CNG) Initiative has cut transport costs by 60%. Foreign Direct Investment (FDI) deals worth over $500 million are boosting job creation.

His administration prioritizes education and youth empowerment, launching the Student Loan Scheme with ₦45.6 billion already processed and ₦50 billion allocated. Programs like Skill Up Artisans (SUPA), Nigerian Youth Academy (NiYA), and National Talent Export Programme (NATEP) are equipping youths with employable skills.

His governance reforms also include financial autonomy for local governments, a 300% salary increase for judges, and a minimum wage hike from ₦30,000 to ₦70,000. His leadership fosters efficiency, innovation, and impactful governance that are shaping and strengthening Nigeria’s progress.