Tinubu stated this on Thursday in his Independence Day broadcast, using the analogy of a cancer patient undergoing painful treatment to explain his decision to remove the petrol subsidy and liberalise the foreign exchange market after assuming office in May 2023.
He argued that the reforms were necessary to address structural problems in the economy, adding that abandoning them would risk returning the country to unsustainable policies.
“Nigeria was like a sick patient who receives the terrible news that he has cancer. His doctor explains that the treatment will be difficult and painful, but that it offers a strong prospect of recovery,” the President said.
“The patient has a choice. He can begin treatment, endure its discomfort and fight the disease. Or he can ask only for morphine, dull the pain and leave the cancer to spread.”
Tinubu acknowledged that the policies had produced real side effects but maintained that they were addressing problems that had accumulated over several years.
“Our reforms did not create the weaknesses in our economy. They confronted them,” he said, urging Nigerians to resist calls for a return to fuel subsidies.
The President’s defence comes amid continued criticism from opposition figures and other Nigerians who blame the removal of the petrol subsidy and foreign exchange reforms for worsening living costs.
Tinubu, however, said economic indicators showed that the country was making progress, citing economic growth of more than four per cent in 2026 and contributions from both the oil and non-oil sectors.
He also pointed to improved foreign reserves, greater stability in the foreign exchange market and a decline in oil theft as signs of progress.
According to him, Nigeria recorded more than $6bn in non-oil export revenue in 2025, its highest ever, describing the earnings as evidence of growing business activity.
“The evidence that Nigeria’s economic outlook has improved is undeniable,” he said.
Tinubu further claimed that international observers and multilateral institutions had recognised improvements in the country’s economic stability and resilience, while foreign direct investment continued to rise.
He described the current period as a turning point for Nigeria and urged citizens to remain committed to the reform process.
Discussion0