President Bola Ahmed Tinubu has declared that Nigeria has moved beyond the most difficult phase of his administration’s economic reforms and entered a new era focused on shared and widespread prosperity.
In his Independence Day address to Nigerians on Thursday, marking the country’s 66th anniversary, the President said the reforms undertaken since his administration assumed office in 2023 had corrected fundamental distortions in the economy and laid the foundation for sustainable growth.
Tinubu acknowledged the hardships associated with the reforms but maintained that the measures were necessary to address long-standing structural weaknesses in the Nigerian economy.
He likened the country’s economic challenges to a cancer patient requiring difficult treatment, saying previous governments had often addressed symptoms rather than the underlying problems.
“Our reforms did not create the weaknesses in our economy. They confronted them,” the President said, insisting that Nigeria must not abandon the reform path.
According to Tinubu, three and a half years into his administration, the country’s economic outlook has improved, with the economy growing by more than four per cent in 2026. He said both the oil and non-oil sectors had contributed to the renewed period of growth.
He also cited reductions in oil theft and inflation, rebuilding of foreign reserves, greater stability in the foreign exchange market and record non-oil export revenue exceeding $6 billion in 2025 as evidence of economic progress.
The President said the next phase of his administration would focus less on correcting economic distortions and more on translating stability into tangible improvements in the lives of Nigerians.
“Now, our purpose is simple: shared and widespread prosperity,” PBAT declared.
He explained that prosperity, for ordinary Nigerians, meant a country where farmers could produce safely and profitably, factories could access reliable electricity, businesses could obtain credit, young people could find productive employment and families could afford food, transportation, education and other necessities.
PBAT said reducing the cost of living would remain a major priority, with the government focusing on lowering the cost of producing and transporting goods.
He listed investments in mechanised irrigation, dry-season farming, improved access to seeds and fertiliser, agricultural mechanisation, storage, transportation and infrastructure as part of the strategy to strengthen food production and reduce costs.
The President also identified job creation, enterprise development and industrial growth as central to the next phase of his administration, particularly given Nigeria’s large and youthful population.
He said the government would leverage the country’s gas resources to power industries, support the revival of factories, expand digital connectivity and provide Nigerians with skills, infrastructure and financing required to grow businesses.
“I want to see more Nigerians making things. I want to see more Nigerian farms feeding our cities and supplying our factories. I want to see Nigerian businesses selling Nigerian goods to the whole world,” he said.
Addressing the plight of vulnerable Nigerians, Tinubu acknowledged that millions of families continued to face difficulties meeting basic needs, including food, school fees, healthcare and transportation costs.
He said the government was strengthening social protection programmes and improving the National Social Register to ensure that assistance reached Nigerians who genuinely needed it.
The President also highlighted the Nigerian Education Loan Fund (NELFUND), CREDICORP and investments in primary healthcare and basic education as measures designed to support citizens while the broader economy expands.
He noted that salaries and pensions had been paid on time and in full since 2023, while the national pension system had also been reformed to benefit retirees and vulnerable Nigerians.
PBAT, however, stressed that social interventions were not intended to replace economic prosperity but to provide support to citizens as they moved towards greater economic independence.
“Our objective is not to manage poverty more efficiently. We will defeat it,” he said.
The President acknowledged that achieving this goal would require sustained economic growth, discipline and the creation of millions of productive opportunities.
He said the country was now better positioned to pursue this objective because the government had laid the foundations for long-term economic stability through its reforms.
“The age of reform has done its work. Now begins the age of prosperity,” PBAT declared.
Reflecting on Nigeria’s 66 years of independence, the President said the country had endured civil war, military rule, economic crises, insecurity and political upheavals but had remained resilient because of the determination and faith of its people.
He urged Nigerians to maintain confidence in the country and work collectively towards building a nation where prosperity is broadly shared and every child has the opportunity to fulfil his or her potential.
PBAT concluded by declaring that Nigeria had “corrected its course” and urged citizens to move forward without looking back.
“Our destination is in sight. Our foundations are strong. Our direction is clear. So let us go forward. No looking back,” he said.
The President wished Nigerians a happy Independence Day and prayed for the continued blessing of the Federal Republic of Nigeria.