President Bola Ahmed Tinubu has declared that his administration is performing well, citing what he described as a reduction in the prices of essential food items such as rice, beans, and garri.
Speaking during a nationwide broadcast to mark the 25th anniversary of uninterrupted democracy in Nigeria on May 29, 2025, Tinubu said, “My government is doing well.
” We have stabilized our economy, and today, I can say with pride that our reforms are working.”
The president maintained that the positive impact of his economic policies is now visible across the nation.
He praised his government for navigating turbulent economic waters and positioning the country for growth, particularly by tackling food inflation, which has been a major concern for many Nigerians.
“In the face of hardship, we chose to confront our economic challenges head-on.
“We ended the fuel subsidy, unified the exchange rate, and cleared decades of debt. Today, the prices of rice, beans, and garri are going down.
“This is proof that we are getting it right,” Tinubu stated.
While the government highlights a dip in the prices of a few commodities, many Nigerians are still battling the effects of widespread inflation, currency depreciation, and food scarcity.
A report by the Global Network Against Food Crises in 2025 revealed that 31.8 million Nigerians were facing acute food insecurity, a sharp rise from the previous year.
This includes nearly 7 million new people added to the ranks of those struggling to feed themselves due to economic strain.
In addition, the World Bank’s April 2025 Africa Pulse report ranked Nigeria as the country with the largest population living in extreme poverty globally.
The report projected that this number could worsen by 2027 if current economic pressures persist.
Despite these bleak figures, Tinubu remains optimistic, urging Nigerians to stay resilient.
“We are laying the foundation for lasting growth. I understand the pain, but I also see the progress,” he concluded.
While the president’s address was meant to instill hope, it has also reignited debates over the true state of the economy.
Many citizens continue to ask: If food prices are dropping, why does life still feel so hard?
