ABUJA: President Bola Ahmed Tinubu on Wednesday assured Nigerians that the country’s most difficult economic period has passed, declaring that “hope is rising for a more prosperous nation.
Delivering his nationwide broadcast to mark Nigeria’s 65th Independence anniversary, Tinubu said his administration’s tough reforms are beginning to yield positive results.
am pleased to report that we have finally turned the corner. The worst is over, I say. Yesterday’s pains are giving way to relief. I salute your endurance, support, and understanding, he told citizens.
The President said his government had chosen the path of tomorrow over the comfort of today since coming into office in May 2023, noting that the gains are now becoming visible.
Tinubu praised Nigerians for their resilience, stressing that despite civil war, military rule, and political upheavals, the nation continues to strive toward a “more perfect union.”
He described the 65th anniversary as a time for sober reflection on the sacrifices of the founding fathers and the progress recorded since Independence in 1960
Highlighting reforms such as the removal of fuel subsidies and the unification of foreign exchange rates, the President argued that these policies ended decades of economic distortions that only enriched a few.
According to him, the reforms have redirected funds toward infrastructure, education, healthcare, national security, and agriculture.
Key milestones cited include:
-
GDP growth of 4.23% in Q2 2025 — the fastest in four years.
-
Inflation down to 20.12%, the lowest in three years.
-
Foreign reserves at $42.03bn.
-
Non-oil exports now 48% of total trade.
-
Debt service costs reduced and tax-to-GDP ratio up to 13.5%.
-
Oil production rebounded to 1.68 million barrels per day.
-
Local refining restarted after four decades, alongside aviation fuel exports.
He also noted a stronger naira, improved credit ratings, a bullish stock market, and the Central Bank’s first interest rate cut in five years.
On security, Tinubu said the military is winning the battle against terrorism, banditry, and separatist violence, leading to the return of displaced persons to hundreds of communities.
He pledged further investment in food security, roads, schools, and hospitals, stressing that we must plan for generations to come.
Tinubu described Nigeria’s youth as its greatest asset, highlighting initiatives such as:
-
Nigeria Education Loan Fund, already benefiting over 500,000 students.
-
Credicorp and YouthCred loans for housing, devices, and resettlement.
-
$600m iDICE programme to boost digital and creative sectors.
-
N330bn social investment disbursed to eight million households.
He also pointed to progress in transport infrastructure, including major rail, road, airport, and seaport projects like the Lagos-Calabar Coastal Highway and the Eastern Rail Project.
While admitting that reforms have brought hardship, the President maintained that the alternative would have been economic collapse.
He ended his speech with a rallying call for unity and productivity:
Let us be a nation of producers, not just consumers. Let us farm our land, build factories, and patronise ‘Made-in-Nigeria’ goods. With Almighty God on our side, the dawn of a new, prosperous, self-reliant Nigeria is here.
