Renewed Hope Global commends Tinubu’s three years of reforms, national renewal
BY STEPHEN GBADAMOSI
The Renewed Hope Global organisation has commended President Bola Ahmed Tinubu for what it termed “three years of bold reforms, growing global confidence and national renewal.”
In a statement by its Senior Special Assistant (Publicity), Honourable Victor Okebunmi, at the weekend, the Renewed Hope Global noted that three years after “President Bola Ahmed Tinubu, GCFR, assumed office, Nigeria is a markedly different country from the one he inherited in May 2023.”
The organisation said though the challenges had not disappeared, no serious observer would claim the country had not made progress.
“But what is increasingly difficult to dispute is that the country is moving through one of the most ambitious periods of economic restructuring since the return to democratic rule in 1999.
“For Renewed Hope Global, the story of the last three years is ultimately a story of political courage. President Tinubu inherited an economy burdened by an unsustainable fuel subsidy regime, multiple exchange rates, record fiscal pressures, dwindling investor confidence, rising debt obligations and a public sector struggling to fund critical development priorities.
“At the time, fuel subsidy payments alone had become a drain on national resources, consuming trillions of naira annually while limiting the government’s ability to invest in infrastructure, education, healthcare and social development. Many acknowledged the problem. Few were willing to solve it. President Tinubu chose to act.
“Today, the impact of those decisions is beginning to emerge across multiple sectors of national life. Federation revenues have expanded significantly. Monthly FAAC distributions, which averaged below ₦800 billion before the reforms, have, in several instances, exceeded ₦1.6 trillion, providing states with unprecedented fiscal capacity to fund roads, healthcare facilities, schools, and social intervention programmes.
“Government revenue has grown substantially. Foreign reserves have strengthened. Oil production has recovered from lows of approximately 1.2 million barrels per day to levels approaching 1.7 million barrels per day, as renewed investment commitments by international energy companies have helped restore confidence in Nigeria’s petroleum sector.
“Nigeria’s economic outlook is also attracting increasing international recognition. Global rating agencies, including Fitch and Moody’s, have acknowledged improvements in fiscal management, revenue generation and policy consistency. International investors who previously adopted a wait-and-see approach are once again engaging Nigeria as a serious destination for long-term investment.
“Across major financial centres, from London to Dubai, New York to Zurich, the conversation around Nigeria is gradually changing. The country is no longer being discussed solely in terms of its challenges. Increasingly, it is being discussed in terms of its reforms. Yet the true test of any administration is not found in economic indicators alone. It is found in whether ordinary citizens can see, feel and access the benefits of those policies.
“That is why some of the administration’s most significant achievements have been people-centred.
“The Nigerian Education Loan Fund (NELFUND), one of the largest student support initiatives in Nigeria’s history, has opened access to tertiary education for more than one million students and applicants who previously faced financial barriers to higher education. For many families, university education is no longer an aspiration threatened by financial hardship. It has become a realistic possibility.
“Young Nigerians have also witnessed one of the most significant welfare improvements in recent years. The National Youth Service Corps allowance was increased from ₦33,000 to ₦77,000 per month, a rise of over 133 per cent, benefiting hundreds of thousands of graduates serving the nation annually.
“Similarly, the approval of a new national minimum wage of ₦70,000 represented an increase of more than 133 per cent over the previous ₦30,000 benchmark, providing improved earnings for millions of Nigerian workers.
“The administration has also intensified efforts to deepen financial inclusion, particularly among women, rural communities and vulnerable groups. Through digital financial services anchored by the vice president’s office, targeted intervention programmes and inclusion-focused policies, millions of Nigerians who previously operated outside the formal financial system are gradually gaining access to banking services, credit opportunities and economic empowerment programmes.
“Infrastructure development has continued at a pace not seen in years. The Lagos – Calabar Coastal Highway, spanning approximately 700 kilometres, is emerging as one of Africa’s most ambitious transport corridors. The Sokoto – Badagry Super Highway and numerous federal road projects are similarly designed to unlock trade, improve connectivity and stimulate economic growth across regions.
“In the education sector, prolonged disruptions caused by recurring industrial actions have significantly reduced, helping restore stability to academic calendars and allowing students to complete their studies with greater certainty.
“Within the Ministry of Interior, passport administration reforms have dramatically reduced waiting times and improved service delivery, while digitisation initiatives continue to modernise interactions between citizens and government institutions.
“Security remains a work in progress. Renewed Hope Global acknowledges that terrorism, banditry, kidnapping and violent crime continue to present serious challenges in several parts of the country. However, the administration has maintained sustained investment in military operations, intelligence gathering, defence procurement, and inter-agency coordination, with the cooperation of the international community, including the United States. Thousands of criminal elements have been neutralised or apprehended through ongoing operations across various theatres.
“Speaking on the administration’s third anniversary, the Global Chairman of Renewed Hope Global, Ambassador Joseph K. Adebola, described President Tinubu as a leader who accepted difficult responsibilities at a defining moment in Nigeria’s history,” the statement read.
It went ahead to quote Ambassador Adebola as saying “President Bola Ahmed Tinubu inherited a difficult situation. The easier political option would have been to postpone tough decisions and leave them for another day.
“He chose a different path. Three years later, we are beginning to see the foundations of a stronger economy, improved public finances, renewed investor confidence and greater international respect for Nigeria’s reform agenda.
“Through our engagements across Abuja, London, Dubai, Zurich, New York and the Republic of Benin, we continue to witness growing confidence in Nigeria’s future and increasing interest in the opportunities being created by these reforms.”
Ambassador Adebola further noted that Renewed Hope Global continued to provide a bridge between government and citizens through its weekly Virtual Town Hall Conference, which brings together ministers, agency heads, policy experts, professionals and Nigerians across the diaspora.
According to him, meaningful engagement remained essential to sustaining public understanding and support for long-term reforms.
Renewed Hope Global also commended the contributions of key members of the administration, including the Chief of Staff to the President, Right Honourable Femi Gbajabiamila; the Secretary to the Government of the Federation (SGF), Senator George Akume; a fiscal reform expert and Finance Minister, Mr. Taiwo Oyedele; Minister of Interior, Dr. Olubunmi Tunji-Ojo; and numerous members of the economic management team working to drive implementation of the Renewed Hope Agenda.
The organisation further recognised the Director General and Chief Executive Officer of the Energy Commission of Nigeria (ECN), Dr. Mustapha Abdullahi, for advancing Nigeria’s energy transition agenda and promoting renewable energy solutions that support long-term national development.
Renewed Hope Global also acknowledged the efforts of Presidential Special Advisers, such as Chief Bayo Onanuga and Hajia Hadiza Bala Usman, in strengthening public communication and defending government policies during a period of extensive reform.
Speaking on behalf of members in the diaspora, Hajia Rakiya Abubakar, Executive Member of Renewed Hope, United Kingdom, praised the administration’s commitment to women’s participation in governance and decision-making.
“As President Tinubu marks three years in office, Renewed Hope Global believes the country is witnessing the early results of reforms that were never designed for immediate applause, but for long-term national transformation,” the statement added.
The organisation expressed confidence that continued implementation of the Renewed Hope Agenda would further strengthen economic growth, expand opportunities for citizens, attract greater investment and consolidate Nigeria’s position as Africa’s leading economy.
