President Bola Ahmed Tinubu has declared that Nigeria has successfully navigated through a difficult period of economic reforms, saying the country is now entering an era of shared and widespread prosperity.
Tinubu stated this in his Independence Day address to Nigerians on Thursday, marking the nation’s 66th independence anniversary, with the theme: “From Reforms to Prosperity.”
The President said his administration inherited an economy burdened by deep structural distortions, rising poverty and declining public confidence, stressing that difficult reforms were necessary to correct the country’s economic trajectory.
According to him, the reforms, although painful, were designed to address longstanding weaknesses rather than create them.
Tinubu said the country’s economic outlook had improved significantly, citing growth of more than four per cent, declining inflation from its peak, improved foreign exchange market stability, rebuilt foreign reserves and increased oil and non-oil sector contributions to economic growth.
He also said oil theft had reduced, while Nigeria recorded more than six billion dollars in non-oil export revenue in 2025, describing the development as evidence of increased economic activity by Nigerian businesses.
The President said the government’s priority had now shifted from economic stabilisation and reform to shared prosperity, with emphasis on reducing the cost of living, creating jobs, expanding industrial production and improving productivity.
He explained that the government would intensify investment in mechanised irrigation and dry-season farming, improved access to seeds and fertilisers, agricultural mechanisation, storage, transportation and critical infrastructure linking farms and factories to markets.
Tinubu said the government would also deploy Nigeria’s gas resources to power industries, support the revival of factories, expand digital connectivity and provide Nigerian businesses with the infrastructure, skills and financing required for growth.
He stressed that the objective was to create an economy in which Nigerians could produce more, earn better incomes and compete in domestic and international markets.
The President also acknowledged the hardship still being experienced by millions of Nigerians, including difficulties with food, education, healthcare and transportation costs.
He said the government was strengthening social intervention programmes to support vulnerable citizens while improving the National Social Register to ensure that assistance reached those who genuinely needed it.
Tinubu highlighted the Nigerian Education Loan Fund, CREDICORP and other government programmes as measures aimed at expanding access to education, consumer credit and essential services.
He said the government would continue to work with state and local governments to strengthen primary healthcare, basic education and other essential public services.
According to him, the government had also maintained the payment of salaries and pensions while introducing reforms aimed at improving the national pension system.
Tinubu, however, acknowledged that poverty could not be eliminated overnight, saying sustained economic growth and the creation of millions of productive opportunities would be required.
He urged Nigerians to remain committed to the country’s future, arguing that the sacrifices associated with the reforms would ultimately yield benefits.
The President used biblical imagery to describe Nigeria’s economic journey, declaring that the country had “passed through our own Red Sea” and should now move forward without looking back.
He said the “age of reform” had done its work and that the country was entering an “age of prosperity”, where the benefits of economic growth should become a lived reality for Nigerians across social and economic classes.
Tinubu called for collective commitment to building a Nigeria where prosperity is broadly shared and every child has the opportunity to realise his or her potential.
“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 wished Nigerians a happy Independence Day and prayed for the continued progress of the Federal Republic of Nigeria.