President Bola Tinubu on Wednesday assured Nigerians that the country’s “worst days are over,” declaring that his administration’s economic reforms are yielding results and rekindling hope for a more prosperous nation.
Delivering a national broadcast to mark Nigeria’s 65th Independence Anniversary, Tinubu said his government had since May 2023 chosen “the path of tomorrow over the comfort of today,” stressing that Nigerians are beginning to see tangible outcomes.
“I am pleased to report that we have finally turned the corner. The worst is over. Yesterday’s pains are giving way to relief. I salute your endurance, support, and understanding. I will continue to work for you and justify the confidence you reposed in me to steer the ship of our nation to a safe harbour,” he said.
The President lauded the resilience of Nigerians, recalling that the country had survived a civil war, military dictatorship, and political upheavals, yet continues to strive toward “a more perfect union.”
Highlighting achievements, Tinubu noted the expansion of education and healthcare, pointing out that Nigeria has grown from just two tertiary institutions in 1960 to 274 universities, 183 polytechnics, and 236 colleges of education by 2024.
He defended his administration’s key reforms—particularly the removal of fuel subsidies and the unification of foreign exchange rates—saying the difficult choices freed resources for infrastructure, education, healthcare, agriculture, and social programmes.
“In resetting our country for sustainable growth, we ended the corrupt fuel subsidies and multiple exchange rates that benefitted only a tiny minority. Our administration has redirected the economy towards a more inclusive path,” he said.
Tinubu listed 12 economic milestones recorded over the past two years and four months, including a 4.23% GDP growth in Q2 2025, the fastest in four years, and inflation down to 20.12%, its lowest in three years. He also cited a sharp rise in non-oil revenue, reduced debt servicing costs, foreign reserves at $42.03bn, and a higher tax-to-GDP ratio of 13.5%.
The President further announced trade surpluses for five consecutive quarters, a 173% increase in manufactured exports, and non-oil exports accounting for 48% of total trade. Oil output, he added, had recovered to 1.68 million barrels per day, with local refining resuming for the first time in four decades.
According to him, the naira is more stable, investor confidence is growing, the stock market is booming, and the Central Bank has cut interest rates for the first time in five years.
On security, Tinubu said heavy investments were yielding results in the fight against terrorism, banditry, and other violent crimes.
He stated that Boko Haram and IPOB/ESN insurgencies were being stamped out, with displaced persons returning to their communities.
He pledged to prioritise food security and agriculture to lower food costs while expanding critical infrastructure such as highways, rail, airports, and seaports.
Addressing the youth, the President described them as Nigeria’s “greatest assets,” citing initiatives like the Nigeria Education Loan Fund—already accessed by over 500,000 students—alongside YouthCred, Credicorp, and the $600m iDICE project for the digital and creative sectors.
Under social investments, Tinubu said N330bn had been disbursed to eight million households.
Acknowledging the hardships caused by reforms, the President urged patience, warning that the alternative would have been economic collapse.
“I have always candidly acknowledged that these reforms have come with temporary pains. But the alternative—economic chaos or bankruptcy—was not an option,” he said.
Concluding his third Independence Day broadcast, Tinubu called for productivity, unity, and patriotism.
“Let us be a nation of producers, not just consumers. Let us farm our land and build factories. Let us patronise Made-in-Nigeria goods. I say Nigeria first. With Almighty God on our side, the dawn of a new, prosperous, self-reliant Nigeria is here,” he said.
