President Bola Ahmed Tinubu has declared that Nigeria has emerged from a difficult period of economic reform and is entering what he called “the age of prosperity,” promising lower living costs, more jobs and broader opportunities for citizens.
In his Independence Day address, delivered under the theme “From Reforms to Prosperity,” Tinubu said the country had “corrected its course” after years of economic instability, insecurity, weak infrastructure and policy failures.
“Nigeria has passed through our own Red Sea,” the president said, urging citizens to look forward rather than return to what he described as unsustainable economic policies.
Reforms were necessary, Tinubu says
Reflecting on Nigeria’s post- independence history, Tinubu acknowledged that the country’s journey had been marked by military rule, civil conflict, economic crises, political upheaval and insecurity.
However, he said Nigerians had continued to sustain the country through their resilience and faith in a better future.
The president defended the economic reforms introduced by his administration, arguing that they were necessary to address long-standing distortions rather than the cause of the country’s economic difficulties.
Using a cancer-treatment analogy, Tinubu said previous governments had relied on temporary relief measures while allowing deeper structural problems to worsen.
His administration, he said, had chosen difficult treatment over what he called the “morphine” of unsustainable subsidies.
“The side effects were real,” he said, but warned against abandoning the reforms and returning to policies that, in his view, had only postponed difficult decisions.
Government cites economic gains
Tinubu said the reforms had begun to produce measurable improvements in Nigeria’s economic outlook. According to the president:
– The economy has grown by more than 4 per cent this year.
– Growth has been recorded in both the oil and non-oil sectors.
– Oil theft has declined.
– Inflation has fallen from its peak.
– Foreign-exchange markets have stabilised.
– Foreign reserves have been rebuilt.
– Non-oil export revenue reached more than $6 billion in 2025, which he described as the highest in the country’s history.
– Foreign direct investment has continued to increase.
Tinubu said international observers, civil society organisations, journalists and multilateral institutions had recognised improvements in Nigeria’s economic resilience and stability.
He did not, however, minimise the hardship still facing millions of Nigerians, many of whom continue to struggle with food costs, transport expenses, school fees, medical bills and limited employment opportunities.
Lower cost of living becomes priority
The president said the government’s next phase would focus on reducing the cost of living by lowering the cost of producing and transporting goods.
He outlined plans to expand mechanised irrigation and dry-season farming, improve access to seeds and fertiliser, increase agricultural mechanisation and invest in storage and transport infrastructure.
The government is also building and completing roads, railways and ports intended to connect farms and factories with markets more efficiently.
Tinubu argued that reducing production losses, improving electricity supply to manufacturers, speeding up the movement of goods and encouraging fair competition would ultimately lower prices for consumers.
Jobs and industrial growth at the centre of next phase
With millions of young Nigerians entering the workforce each year, Tinubu said employment, enterprise and industrialization would be central to the government’s prosperity agenda.
He promised to use Nigeria’s gas resources to support new industries, revive factories in the country’s industrial centres and expand digital connectivity to underserved communities.
The administration also plans to invest in skills training aligned with employer demand and provide Nigerian businesses with infrastructure and financing to support expansion.
Tinubu said he wanted to see more Nigerian-made products, stronger links between farms and factories, and businesses capable of competing in international markets.
He also expressed support for young Nigerians seeking to build technology companies and create jobs at home.
Social support programmes to continue
Recognising that many Nigerians cannot wait for the benefits of long-term economic growth, the president pledged to strengthen social-protection measures.
He said the government was improving the National Social Register to ensure that direct assistance reaches the poorest households.
He also highlighted the Nigerian Education Loan Fund, which he said would help students from low-income families pursue higher education.
Tinubu further cited CREDICORP, a consumer-credit initiative designed to help working Nigerians acquire vehicles, solar systems, digital devices and other essential assets without having to save for years.
The president said the federal government would continue working with state and local authorities to strengthen primary healthcare, basic education and other essential services.
He also stated that salaries and pensions had been paid on time and in full since 2023, while the national pension system had been reformed to support retirees and vulnerable Nigerians.
“These programmes are not substitutes for prosperity,” Tinubu said. “They are a bridge to aid our nation’s citizens on their path towards it.”
Poverty remains a long-term challenge
Tinubu acknowledged that the government could not reverse in four years the effects of problems that had accumulated over several decades.
He attributed current hardship to low productivity, inadequate infrastructure, limited opportunities and institutions that had frequently failed vulnerable citizens.
He nevertheless pledged that his administration would change the country’s trajectory and build an economy capable of lifting people out of poverty over time. “Our objective is not to manage poverty more efficiently,” he said. “We will defeat it.”
The president cautioned that achieving this goal would require discipline, sustained economic growth and the creation of millions of productive jobs.
A call for national unity
Concluding his address, Tinubu appealed to Nigerians to remain united and maintain confidence in the country’s future.
He praised farmers, traders, teachers, entrepreneurs, members of the Armed Forces and security services, describing ordinary citizens as the true strength of Nigeria.
He said the country’s “promised land” would be a nation of abundance and opportunity, where prosperity is widely shared and every child can aspire to a better life regardless of family background.
“Our destination is in sight. Our foundations are strong. Our direction is clear,” Tinubu said. “So let us go forward. No looking back.”