President Tinubu

Author: Gist Correspondent

President Bola Ahmed Tinubu has declared that Nigeria has passed through its period of difficult economic reforms and is now entering an era of prosperity, urging Nigerians to look forward with renewed hope and confidence.

Tinubu made the declaration on Thursday in his Independence Day address to Nigerians as the country marks its 66th anniversary, saying his administration had taken difficult decisions to correct what he described as longstanding economic distortions.

According to the President, Nigeria’s challenges did not begin with his administration, but accumulated over decades of low productivity, inadequate infrastructure, insufficient opportunities and institutional weaknesses.

He likened the country’s previous economic situation to a patient suffering from cancer, arguing that successive administrations had often treated the symptoms rather than confronting the underlying problems.

Tinubu said his administration chose to undertake difficult reforms, despite their immediate impact on Nigerians, because postponing the necessary decisions would have worsened the country’s economic condition.

He said the reforms had begun to yield results, citing economic growth of more than four per cent, declining inflation from its peak, increased foreign reserves, greater stability in the foreign exchange market and rising non-oil exports.

The President also claimed that oil theft had declined and that Nigeria recorded more than $6 billion in non-oil export revenue in 2025, describing the development as evidence of increasing activity by Nigerian businesses.

Tinubu said the government’s economic focus had now shifted from stabilisation and reform to what he described as “shared and widespread prosperity.”

He said the next phase would focus particularly on reducing the cost of living by lowering the cost of production and transportation of goods across the country.

According to him, the Federal Government is expanding mechanised irrigation and dry-season farming, improving access to seeds and fertiliser, increasing agricultural mechanisation and investing in storage and transportation.

He added that ongoing investments in roads, railways and ports were aimed at connecting farms and factories with markets and reducing the cost of moving goods.

The President also identified job creation, enterprise and industrial growth as central to the next phase of his administration, particularly given Nigeria’s large and youthful population.

Tinubu said the government would deploy the country’s gas resources to power industries, support the revival of factories, expand digital connectivity and provide skills, infrastructure and financing to Nigerian businesses.

He expressed a desire to see more Nigerians producing goods locally, Nigerian farms supplying cities and industries, and Nigerian companies expanding their products into international markets.

Acknowledging that millions of Nigerians were still struggling with food, school fees, medical expenses and transportation costs, the President said the government was strengthening social interventions to support vulnerable households.

He cited the National Social Register, Nigerian Education Loan Fund and CREDICORP as part of measures designed to provide assistance, education financing and access to consumer credit.

Tinubu also said the Federal Government would continue working with state and local governments to strengthen primary healthcare, basic education and other essential public services.

He maintained that such programmes were not intended to permanently manage poverty but to serve as a bridge towards broader prosperity.

“It will take time. It will require discipline. It will require sustained growth year after year and the creation of millions of productive opportunities across our country,” he said.

The President declared that his administration had laid the foundation for what he called lasting prosperity, adding that Nigeria must now move from an era of reform to an “age of prosperity.”

He urged Nigerians not to look back at the difficulties of the reform period but to work together towards building a nation where prosperity and opportunities are broadly shared.

“Nigeria has corrected its course. We have passed through our own Red Sea. This is not the time to look back. Let us go forward together,” Tinubu said.

He described the country’s desired destination as a Nigeria of abundance and opportunity, where children could dream beyond the circumstances of their birth and the country’s potential would be reflected in the living conditions of its citizens.

“Our destination is in sight. Our foundations are strong. Our direction is clear. So let us go forward. No looking back,” the President said.

He concluded by wishing Nigerians a happy Independence Day and praying for the continued blessing of the Federal Republic of Nigeria.