President Bola Tinubu has declared that Nigeria has moved beyond the difficult phase of economic reforms and entered what he described as the “age of prosperity.”
The President made the declaration on Thursday in his 2026 Independence Day address to Nigerians as the country marked its 66th anniversary of independence.
The President said the reforms introduced by his administration were necessary to correct deep-rooted economic distortions and put the country on a path of sustainable growth.
According to President Tinubu, Nigeria’s economy has grown by more than 4% this year, while oil theft has declined and inflation has fallen substantially from its peak.
He also said the country’s foreign reserves have been rebuilt, the foreign exchange market has stabilised, and Nigeria recorded more than $6 billion in non-oil export revenue in 2025, which he described as the highest in the country’s history.
Tinubu said the economic indicators showed that Nigeria had reached a turning point. “The emergency treatment is over. The foundation has been repaired. The central economic task before us has changed.”
He said the focus of government must now shift from correcting economic distortions to delivering “shared and widespread prosperity.”
The President identified reducing the cost of living as a major priority, saying government would focus on lowering the cost of producing and transporting goods.
He said the administration would expand mechanised irrigation, dry-season farming and agricultural mechanisation, while investing in storage and transportation infrastructure.
Tinubu also said government would continue investing in roads, railways and ports to connect farms and factories to markets and reduce the cost of moving goods.
On employment and industrialisation, the President said jobs, enterprise and industrial growth would remain at the heart of government policy.
He announced that Nigeria would leverage its gas resources to power new industries, support the revival of factories, expand digital connectivity and invest in skills required by employers.
Tinubu acknowledged that millions of Nigerians are still struggling with food, school fees, medical bills and transportation costs.
He said government was strengthening support for poor and vulnerable households through interventions including the National Social Register, the Nigerian Education Loan Fund and CREDICORP.
The President also said government would continue working with state and local governments to strengthen primary healthcare, basic education and other essential public services.
Tinubu said the government’s objective was not simply to manage poverty more efficiently. “We will defeat it,” he declared.
The President acknowledged that eliminating poverty would take time and require sustained economic growth and the creation of millions of productive opportunities.
He said Nigeria had now reached a point where the country could pursue prosperity from what he described as a position of economic strength.
“The age of reform has done its work. Now begins the age of prosperity,” Tinubu said. He urged Nigerians to look ahead with renewed hope, declaring that the country has “corrected its course” and callef on citizens to move forward together.
Tinubu described Nigeria’s “promised land” as a nation of abundance and opportunity where prosperity is broadly shared and every child can dream beyond the circumstances of their birth.
“Our destination is in sight. Our foundations are strong. Our direction is clear. So let us go forward. No looking back,” the President said.
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Editor: Terverr Tyav
