President Bola Tinubu has declared that Nigeria has entered what he calls an “age of prosperity” after three years of difficult economic reforms, with his administration now shifting focus to reducing the cost of living, creating jobs and ensuring that economic growth translates into improved living conditions for Nigerians.
In his Independence Day address on Thursday as Nigeria marked 66 years of independence, Tinubu acknowledged that millions of Nigerians still struggle to afford food, education, healthcare and transportation, but insisted that the reforms introduced since 2023 have corrected fundamental weaknesses in the economy and placed the country on a stronger footing.
“The emergency treatment is over. The foundation has been repaired. The central economic task before us has changed,” he said.
“For three years, our overriding purpose was to correct our nation’s course. Now, our purpose is simple: shared and widespread prosperity.”
Nigeria At 66
Reflecting on Nigeria’s journey since independence in 1960, Tinubu said the country had endured war, military rule, economic crises, insecurity and political upheaval, but remained united through the resilience of its people.
He said independence carried a promise beyond national sovereignty, including the freedom for Nigerians to shape their destiny and build a country capable of providing opportunity, dignity and a better life.
The President paid tribute to farmers, traders, teachers and young entrepreneurs who continue to contribute to the country despite its challenges.
He also acknowledged members of the Armed Forces and other security services who, he said, put themselves in harm’s way so that other Nigerians could live in peace.
Tinubu linked his vision of economic prosperity to security, describing a prosperous Nigeria as one in which farmers can cultivate their land safely, factories can operate with reliable power, businesses can access credit and young people can find productive employment.
Tinubu Defends Tough Economic Reforms
The President argued that by 2023, Nigeria was confronted by deep economic distortions that successive governments had allowed to accumulate, leaving his administration with little choice but to take difficult decisions.
Using the analogy of a cancer patient faced with painful treatment, Tinubu said previous governments had chosen to manage the symptoms of Nigeria’s economic problems rather than confront their underlying causes.
“For too long, Nigeria’s leaders chose morphine while praying for a miracle that never came,” he said.
He maintained that the reforms introduced by his administration did not create Nigeria’s economic weaknesses but were intended to confront them.
Tinubu also pushed back against calls for a reversal of the reforms, particularly previous subsidy arrangements, arguing that abandoning the policies would return the country to the problems his administration sought to address.
Economy Growing Above Four Per Cent, Tinubu Says
The President said three and a half years of reforms had begun to produce measurable results.
He put Nigeria’s economic growth this year at more than four per cent, saying both oil and non oil sectors were contributing to what he described as a renewed period of stable growth.
Tinubu also reported a decline in oil theft, a substantial fall in inflation from its peak, improved foreign reserves and greater stability in the foreign exchange market.
Nigeria, he added, generated more than six billion dollars from non oil exports in 2025, which he described as the highest non oil export revenue in the country’s history.
The President also said foreign direct investment was continuing to rise as the economy became more stable.
According to him, the indicators show that Nigeria has reached a turning point after years of economic difficulties.
Cost Of Living Becomes Priority
But Tinubu acknowledged that improved economic indicators have not removed the pressures confronting millions of Nigerian households.
He identified reducing the cost of living as a major priority of his administration, saying the next phase of government policy would concentrate on reducing the cost of producing and transporting goods.
Agriculture will be central to that effort.
The President said government would expand mechanised irrigation and dry season farming, improve access to seeds and fertiliser, increase agricultural mechanisation and invest in storage and transportation.
He said investments in roads, railways and ports would also connect farms and factories more efficiently to markets.
Tinubu argued that increased agricultural production, fewer post harvest losses, reduced electricity costs for manufacturers and faster movement of goods should ultimately translate into lower prices for consumers.
Jobs And Industrial Growth Take Centre Stage
Beyond reducing prices, the President said Nigeria needs productive employment, particularly for its rapidly growing young population.
He said jobs, enterprise and industrial growth would therefore be placed at the heart of government policy.
Nigeria’s gas resources, according to Tinubu, will be deployed to power new industries and support efforts to revive factories in major industrial centres.
The government also plans to expand digital connectivity and invest in infrastructure, skills development and access to finance to enable Nigerian businesses to grow.
Tinubu said his vision was for more Nigerians to manufacture goods locally, for farms to feed cities and supply factories, and for Nigerian businesses to sell locally produced goods across international markets.
He also expressed a desire to see more young Nigerians build globally competitive technology companies and create jobs within the country.
‘Millions Cannot Wait For Tomorrow’
Despite his administration’s assessment of the economy, Tinubu acknowledged the immediate hardship confronting many Nigerians.
“Some Nigerian families still struggle today for the next meal, the next school fee, the next medical bill, or simply enough money to get to work,” he said.
The President attributed the hardship to decades of low productivity, inadequate infrastructure, insufficient opportunities and institutions that had failed many vulnerable citizens.
“We cannot erase in four years what accumulated over generations. But we can change its course,” he said.
Tinubu pledged to combine economic growth with measures to protect vulnerable Nigerians while the government pursues its longer term economic objectives.
Social Register, NELFUND, CREDICORP
The President said direct support for the poorest households would be strengthened, alongside improvements to the National Social Register to ensure assistance reaches those who genuinely need it.
He cited the Nigerian Education Loan Fund, NELFUND, as part of efforts to ensure that students from low income families are not denied higher education because their parents cannot afford the fees.
Tinubu also highlighted CREDICORP, which provides consumer credit to working Nigerians for the purchase of vehicles, solar systems, digital devices and other assets.
The Federal Government, he said, would continue working with states and local governments to strengthen primary healthcare, basic education and other essential public services.
He said his administration had paid salaries and pensions on time and in full since 2023 and had reformed the national pension programme to support retirees and vulnerable Nigerians.
But the President stressed that such interventions were intended as a bridge to broader economic prosperity rather than substitutes for productive employment and sustained economic growth.
“Our objective is not to manage poverty more efficiently.
“We will defeat it,” Tinubu declared.
He acknowledged that eliminating poverty would take time and require sustained economic growth, discipline and the creation of millions of productive opportunities.
‘Age Of Reform Has Done Its Work’
Tinubu said Nigeria was now approaching that challenge from what he described as a position of greater economic strength.
He maintained that the difficult decisions taken since 2023 had corrected the direction of the economy and created the foundation for the government to pursue wider prosperity.
“The age of reform has done its work. Now begins the age of prosperity,” he declared.
According to the President, the next phase must ensure that Nigeria’s economic potential becomes visible in the everyday lives of citizens rather than remaining only in economic statistics.
He urged Nigerians to remain united and continue moving forward despite the difficulties and sacrifices of recent years.
“Nigeria has corrected its course. We have passed through our own Red Sea. This is not the time to look back,” Tinubu said.
He described Nigeria’s “Promised Land” as a nation of abundance and opportunity where prosperity is broadly shared and every child can aspire beyond the circumstances of 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.
Tinubu ended the address by congratulating Nigerians on the country’s 66th Independence anniversary and praying for the Federal Republic of Nigeria.
(Follow AIT News on WhatsApp, AfricaIndependentTV on YouTube, ait_online on Facebook and X (Formerly Twitter), and officialait on TikTok, Instagram and Threads)
Editor: Ada Ononye
