President Bola Tinubu says Nigeria has corrected its economic course and entered a new phase focused on shared and widespread prosperity.
Tinubu made the declaration on Thursday in his Independence Day address to Nigerians as the country marked its 66th anniversary.
The President said the country had endured economic crises, insecurity, political upheaval, and other challenges since independence, but Nigerians have continued to believe in a better future.
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According to the president, his administration inherited an economy weighed down by longstanding distortions and had to make difficult decisions to address the problems.
He likened Nigeria’s economic situation in 2023 to a cancer patient who had to undergo painful treatment, arguing that previous governments had avoided difficult decisions.
Tinubu Boosts Of His Economic Reforms
Tinubu said the reforms introduced by his administration had produced improvements in the economy.
He said Nigeria’s economy grew by more than four per cent in 2026, with both the oil and non-oil sectors contributing to growth.
The President also said oil theft had declined, inflation had fallen substantially from its peak, foreign reserves had been rebuilt and the foreign exchange market had stabilised.
He added that Nigeria recorded its highest-ever revenue from non-oil exports in 2025, exceeding $6 billion.
Tinubu said the government’s focus had now shifted from economic correction to delivering prosperity for Nigerians.
“Our priority is to bring down the cost of living,” he said, explaining that the government would focus on reducing the cost of producing and transporting goods.
He listed mechanised irrigation, dry-season farming, improved access to seeds and fertiliser, agricultural mechanisation, storage and transportation among measures being pursued by the government.
The President also said the government was investing in roads, railways and ports to connect farms and factories to markets.
Tinubu Addresses Issues of Unemployment
On employment, Tinubu said jobs, enterprise and industrial growth were being placed at the centre of government policy.
He said the government would use Nigeria’s gas resources to power new industries, support businesses seeking to revive factories, expand digital connectivity and invest in skills required by employers.
He also said the government would support Nigerian businesses with infrastructure and financing to enable them to expand.
Tinubu acknowledged that millions of Nigerians were still struggling with food, school fees, medical bills and transportation costs.
He said the challenges faced by poor Nigerians predated his administration, describing them as the accumulated consequences of decades of low productivity, inadequate infrastructure and limited opportunities.
“We cannot erase in four years what accumulated over generations. But we can change its course,” he said.
The President said his administration was strengthening direct support for poor households and improving the National Social Register to ensure assistance reached those in need.
He also highlighted the Nigerian Education Loan Fund and CREDICORP as programmes designed to expand access to higher education and consumer credit.
Tinubu said the Federal Government, working with states and local governments, would continue to strengthen primary healthcare, basic education and other essential public services.
He also said salaries and pensions had been paid on time and in full since 2023, while the national pension programme had been reformed to benefit retirees and vulnerable Nigerians.
The President said the government’s objective was not merely to manage poverty but to defeat it through sustained economic growth and the creation of millions of productive opportunities.
“The age of reform has done its work. Now begins the age of prosperity,” Tinubu said.
He urged Nigerians to continue supporting the country’s progress, saying the sacrifices made through the reform process would eventually yield benefits.
“Let us go forward. No looking back,” he said.
Tinubu concluded by wishing Nigerians a happy Independence Day and asking for God’s blessings on the country.
Rafiyat Sadiq is a political, justice, and human rights reporter with Pinnacle Daily, known for fearless reporting and impactful storytelling. At Pinnacle Daily, she brings clarity and depth to issues shaping governance, democracy, and the protection of citizens’ rights.