President Bola Ahmed Tinubu on Friday declared that his administration’s removal of the fuel subsidy rescued Nigeria from the brink of financial collapse, asserting that the controversial policy decision has since laid the groundwork for a gradual but steady economic recovery.

The President made the declaration while hosting state governors who gathered at the Presidential Villa to mark both the Eid el-Kabir celebration and the third anniversary of his administration.

Governors from Lagos, Nasarawa, Jigawa, Sokoto, Kebbi, Taraba, Niger, Ekiti, Delta, Ondo, Edo, Adamawa, Benue, Enugu, Ogun, and Kogi States attended the event, alongside the deputy governors of Borno and Kano.

Addressing his guests, President Tinubu acknowledged the pain the subsidy removal inflicted on ordinary Nigerians but insisted the decision was unavoidable. “It was challenging at the time, but we survived. We face litigation and accusations. We survived them. Instead of bankruptcy, Nigeria has survived. The economy has recovered. It is growing. Agriculture is booming,” he said.

Turning to his governors, Tinubu credited the sub-national leaders with helping sustain public trust through one of the administration’s most turbulent stretches. “I’m glad governors are no longer borrowing from the federal government and asking for interventions and not knowing how to survive, how to pay salaries — no more. You kept the spirit, you kept the hope. You persuaded our people to be patient and endure these three years of painful reform, during which we put the economy on a reset. Today, the benefits are showing,” the President said.

Beyond the subsidy reform, Tinubu pointed to visible gains across multiple sectors as evidence that the administration’s broader reform agenda is bearing fruit. “The economy has recovered. Macroeconomic indices are doing very well. Construction is ongoing on roads and infrastructure; the ones abandoned have been rehabilitated. The housing industry is coming on very well. Agriculture will prosper again. We will achieve food sovereignty if we utilise the land that is in your possession and in your various states effectively,” he added.

The President also cited developments along the Sokoto-Badagry corridor — noting irrigation dams, farmland expansion, and electricity generation potential — as a glimpse of the infrastructure transformation underway across the country.

Tinubu further assured Nigerians that his administration would press forward with people-centred policies targeting job creation, food security, and inclusive economic growth, describing the current moment as one where ongoing reforms in infrastructure, agriculture, social investment, foreign exchange management, and fiscal discipline are beginning to restore investor confidence.

Vice President Kashim Shettima, who also addressed the gathering, offered a forceful defence of the President’s reform record, framing the subsidy removal as an act of historic courage.

“Your Excellency, Mr. President, this is the essence of your leadership. You did not come to power in the season of ease. You came at a time when the house required more than a painter. It required a builder with the courage to examine the foundation you inherited. In that defining hour, you chose not to postpone the surgery. You chose not to massage the wound. You chose to confront the contradictions that have held this country hostage for 50 years — that is the miracle of your courage,” Shettima said.

Together, the remarks from both the President and his deputy painted a picture of an administration that views its most unpopular decisions as its most consequential — and one that is increasingly eager to make that case as it enters its fourth year in office.