President Bola Ahmed Tinubu has said Nigeria’s economic outlook has improved following the reforms introduced by his administration, declaring that the country has moved beyond the most difficult phase of its economic adjustment.
Gatekeepers News reports that Tinubu made the statement on Thursday in his Independence Day address to Nigerians to mark the country’s 66th anniversary, with the theme, “From Reforms to Prosperity.”
The president said the government had spent the past three years addressing what he described as deep-rooted economic distortions, adding that the reforms were necessary despite the hardship they caused.
He said the country’s economic situation in 2023 had deteriorated significantly and required difficult decisions.
Tinubu compared the situation to a patient diagnosed with cancer whose treatment could be painful but necessary for recovery.
“For too long, Nigeria’s leaders chose morphine while praying for a miracle that never came,” he said.
He said his administration chose to confront the underlying problems rather than continue with policies that only addressed their symptoms.
“Our reforms did not create the weaknesses in our economy. They confronted them,” the president said.
Tinubu said the economy had grown by over four per cent in 2026, with both the oil and non-oil sectors contributing to the growth.
He 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.
According to the president, Nigeria recorded more than $6 billion in non-oil export revenue in 2025, which he described as the highest in the country’s history.
“These are not idle claims. International observers, journalists, NGOs and multilateral institutions can see the change. Each has concluded that our reforms have strengthened Nigeria’s economic stability and resilience. The private sector has long since delivered its verdict, and foreign direct investment continues to rise each year,” he said.
Tinubu said the government had now reached a turning point, with its focus shifting from correcting the country’s economic course to delivering what he described as “shared and widespread prosperity.”
“The emergency treatment is over. The foundation has been repaired. The central economic task before us has changed. For three years, our overriding purpose was to correct our nation’s course.
“Now, our purpose is simple: shared and widespread prosperity.”
The president said reducing the cost of living would be a major priority, adding that the government would focus on lowering the cost of producing and transporting goods.
He said the administration would expand mechanised irrigation and dry-season farming, improve access to seeds and fertiliser, increase mechanisation and invest in storage and transportation.
Tinubu also said the government was building and completing roads, railways and ports to improve connections between farms, factories and markets.
On employment, he said jobs, enterprise and industrial growth would remain central to the government’s policies.
He said the administration would use gas to power new industries, support businesses working to revive factories, expand digital connectivity and invest in skills demanded by employers.
“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. I want young Nigerians building unicorns and creating opportunities for others here at home,” Tinubu said.
The president acknowledged that millions of Nigerians continued to struggle with food, school fees, medical bills and transportation costs.
He said their difficulties did not begin with his administration’s reforms but were the accumulated consequences of decades of low productivity, inadequate infrastructure, insufficient opportunities and weak institutions.
Tinubu said the government was strengthening direct support for the poorest households and improving the National Social Register to ensure that assistance reached those who genuinely needed it.
He also highlighted the Nigerian Education Loan Fund and CREDICORP, saying the programmes were designed to expand access to higher education and consumer credit.
The president said the government would continue working with states and local governments 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 and that the national pension programme had been reformed to benefit retirees and vulnerable Nigerians.
“These programmes are not substitutes for prosperity. They are a bridge to aid our nation’s citizens on their path towards it. Our objective is not to manage poverty more efficiently.
“We will defeat it,” he said.
Tinubu said achieving that goal would require discipline, sustained economic growth and the creation of millions of productive opportunities across the country.
He said the government had laid the foundations for lasting prosperity after making difficult economic decisions.
“The age of reform has done its work. Now begins the age of prosperity. An age in which the promise of this great nation must finally become the lived experience of Nigerians from all walks of life,” he said.
Tinubu urged Nigerians to look ahead and remain committed to building the country, saying the reforms had placed Nigeria on a new path.
“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, with faith in ourselves, faith in our country, and faith that the sacrifices we have made will yield their reward,” he said.
He said his vision was for a Nigeria where prosperity was broadly shared, children could dream beyond the circumstances of their birth and the country’s potential was reflected in the lives of its people.
“Our destination is in sight. Our foundations are strong. Our direction is clear. So let us go forward. No looking back,” Tinubu said.
He wished Nigerians a happy Independence Day and prayed for the Federal Republic of Nigeria.
