President Bola Ahmed Tinubu has declared that Nigeria has moved beyond the phase of economic reforms and entered an era focused on shared and widespread prosperity.
He made the declaration in his Independence Day address to Nigerians on Thursday, marking the country’s 66th Independence Anniversary.
The President said Nigeria had endured war, military rule, economic crises, insecurity and political upheaval since independence but had continued to survive through the resilience and determination of its people.
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He said the country’s founding fathers had envisioned a nation where Nigerians would have the freedom to shape their destiny and build a country capable of providing opportunity, dignity and a better life.
According to President Tinubu, successive difficult choices had undermined Nigeria’s economic prospects by allowing deep economic distortions to grow.
He said his administration, upon assuming office, chose to address the underlying weaknesses through reforms, despite the difficulties associated with them.
Reforms Lay Foundation For Prosperity
“Our reforms did not create the weaknesses in our economy. They confronted them. Now, as certain influential but regressive voices would have us abandon the treatment and return ourselves to the abuse of addictive subsidies, we must resist their siren song. We must remember why we began this journey and how far we have already come.” The Nigerian Leader explained
Tinubu said the economic outlook had improved three and a half years after the reforms began, noting that the economy had grown by over four per cent in 2026.
He said both the oil and non-oil sectors had contributed to the renewed period of stable growth, while oil theft had declined, inflation had fallen substantially from its peak and foreign reserves had been rebuilt.
The President also said the foreign exchange market had stabilised, while Nigeria recorded its highest revenue from non-oil exports in 2025, exceeding six billion dollars.
“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.” President Tinubu stressed.
He said the central economic task had now changed from correcting the country’s course to achieving shared and widespread prosperity.
“Now, our purpose is simple: shared and widespread prosperity.”
Government Targets Lower Cost Of Living
Tinubu said the government’s priority was to reduce the cost of living by lowering the cost of producing and transporting goods consumed by Nigerians.
He said the government would expand mechanised irrigation and dry-season farming, improve access to seeds and fertiliser, increase mechanisation and invest in storage and transportation.
According to him, the government was also building and completing roads, railways and ports to connect farms and factories to markets.
He said lower production and transportation costs, improved electricity supply and a business environment that promotes fair competition would ultimately help reduce the prices of goods.
The President said productive work was also central to achieving prosperity, particularly given Nigeria’s youthful population.
“We are therefore placing jobs, enterprise, and industrial growth at the heart of our government’s policies.”
The President said the government would use gas to power new industries, support businesses working to revive factories, expand digital connectivity and invest in skills demanded by employers.
He also said Nigerian businesses would be supported with infrastructure and finance to enable them to grow.
“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.” The Nigerian Leader emphasised
Social Support Programmes Strengthened
The President acknowledged that millions of Nigerians continued to face difficulties meeting basic needs, including food, school fees, medical bills and transportation costs.
He said their challenges predated the reforms of the past three years and were the accumulated consequences of low productivity, inadequate infrastructure, insufficient opportunities and institutional weaknesses.
“We cannot erase in four years what accumulated over generations. But we can change its course. We can build an economy that steadily lifts people out of poverty while ensuring that those who remain vulnerable are not abandoned along the way.” The President stated
Tinubu said the government was strengthening direct support for the poorest households and improving the National Social Register to ensure assistance reached those who genuinely needed it.
He said the Nigerian Education Loan Fund was helping children from low-income families access higher education, while CREDICORP was providing working Nigerians with access to consumer credit for vehicles, solar systems, digital devices and other essential assets.
The President said the Federal Government, working with states and local governments, would continue to strengthen primary healthcare, basic education and essential public services.
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He also said salaries and pensions had been paid on time and in full since 2023, while 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.”
President Tinubu Calls For Collective Effort
Tinubu said achieving the objective would require time, discipline, sustained economic growth and the creation of millions of productive opportunities across the country.
He said Nigeria was now undertaking the task from a position of strength, with what he described as the fundamental direction of the economy corrected and foundations laid for lasting prosperity.
“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.”
The President called on Nigerians to continue working together to build on the reforms and create the country envisioned for future generations.
“I believe deeply in what lies ahead.”
He said the road ahead would still demand sacrifice but expressed confidence in the country’s direction and collective future.
“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,” the President noted
Tinubu said the promised future was a Nigeria where prosperity was broadly shared, every child could dream beyond the circumstances of birth and the country’s potential would be 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.”
He wished Nigerians a happy Independence Day and prayed for the country.
“Happy Independence Day, my fellow Nigerians. God bless you all, and God bless the Federal Republic of Nigeria,” President Tinubu added.
