Nigeria, May 29 -- President Bola Ahmed Tinubu, in a national broadcast marking the second anniversary of his administration, praised Nigerians for their resilience and declared that his bold economic reforms are beginning to pay off.

In a speech heavy on progress reports and optimism, Tinubu defended the controversial removal of fuel subsidies and unification of the foreign exchange market two policies he said were essential to "rescue Nigeria from the brink."

"It was a chokehold on our nation's future. Without these reforms, we would be facing runaway inflation, debt default, and economic free fall." He said.

Tinubu pointed to a series of economic wins:

He also stated that Nigeria's external reserves grew nearly 500%, from $4 billio...