President Bola Tinubu has told Nigerians that the country has moved beyond the era of painful economic reforms and is now entering a phase of “shared and widespread prosperity,” saying the hard decisions of his administration have corrected the nation’s economic course and laid the foundation for lasting growth.
Delivering his 66th Independence Day broadcast to the nation, Tinubu said the economy has grown by more than four per cent in 2026, inflation has dropped substantially from its peak, foreign reserves have been rebuilt, the foreign exchange market has stabilised and oil theft has declined.
He also said Nigeria earned more than $6 billion from non-oil exports in 2025, the highest in the country’s history, describing the figure as proof that the reforms are working.
The President, however, admitted that millions of Nigerians still struggle to pay for food, school fees, healthcare and transport. He said their hardship did not begin with his reforms but is the product of decades of low productivity, weak infrastructure and limited opportunities.
Tinubu said the next phase of his administration will focus on reducing the cost of living, creating jobs, expanding agriculture and industry, improving infrastructure and ending poverty.
“Our journey has not been easy”
Recalling the country’s path since 1960, Tinubu said Nigeria had endured war, military rule, economic crises, insecurity and political upheaval, but had survived through the resilience of its people. He paid tribute to farmers, traders, teachers, young entrepreneurs and members of the armed forces and security services.
He said that by 2023, poverty was rising and hope was nearly gone, leaving his administration with no choice but to act. Likening Nigeria to a patient diagnosed with cancer, he said previous leaders opted for “morphine” to dull the pain instead of treating the disease.
“Our reforms did not create the weaknesses in our economy. They confronted them,” he said, warning against what he called “influential but regressive voices” urging a return to the subsidy regime.
“The emergency treatment is over”
Declaring a “turning point,” Tinubu said: “The age of reform has done its work. Now begins the age of prosperity.”
He said the aim is not just a bigger economy or better statistics, but a Nigeria where farmers can work safely and earn decent returns, factories have reliable power, businesses can access credit, young people find productive work, and food and transport are affordable.
He added that international observers and multilateral institutions had acknowledged the improved economic stability, while foreign direct investment continues to rise.
Cheaper food, jobs, industry
To cut living costs, Tinubu said his government will expand mechanised irrigation and dry-season farming, improve access to seeds and fertiliser, and invest in storage and transport. He said roads, railways and ports linking farms and factories to markets are being built and completed.
On jobs, he said the government would use gas to power new industries, support efforts to revive factories in industrial centres, extend digital connectivity to underserved communities and invest in skills and finance for businesses.
“I want to see more Nigerians making things,” he said, adding that he wants young Nigerians building global companies at home.
Support for vulnerable households
Tinubu said the government is strengthening direct support for the poorest households and improving the National Social Register. He cited the Nigerian Education Loan Fund for low-income students and CREDICORP, which gives workers access to consumer credit for vehicles, solar systems and digital devices.
He said the federal government will work with states and local governments to strengthen primary healthcare, basic education and other essential services, and noted that salaries and pensions have been paid promptly since 2023.
“Our objective is not to manage poverty more efficiently. We will defeat it,” he said.
Admitting the task will take time and discipline, Tinubu said Nigeria now begins from a position of strength. “Nigeria has corrected its course. We have passed through our own Red Sea,” he said, adding: “Our destination is in sight. Our foundations are strong. Our direction is clear. So let us go forward. No looking back.”
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