President Bola Tinubu has said Nigeria has moved beyond the period of economic reforms and entered what he described as an “age of prosperity”, urging Nigerians to look forward rather than return to policies that, according to him, deepened the country’s economic problems.
Tinubu stated this in his Independence Day address to Nigerians on Thursday to mark the country’s 66th anniversary.
The President acknowledged the hardship still facing millions of Nigerians and outlined his government’s priorities for the next phase of his administration.
Here are seven key takeaways from the President’s broadcast:
1. Tinubu says Nigeria’s economic outlook has improved
The President said Nigeria’s economy grew by more than four per cent in 2026, with both the oil and non-oil sectors contributing to what he described as a period of stable growth.
He also said oil theft had declined, inflation had fallen substantially from its peak, foreign reserves had been rebuilt and the foreign exchange market had stabilised.
Tinubu added that Nigeria recorded more than $6 billion in non-oil export revenue in 2025, describing it as the country’s highest ever.
2. He defended his administration’s economic reforms
Tinubu compared Nigeria’s economic situation before his administration’s reforms to a patient suffering from cancer who must undergo difficult treatment to recover.
He said previous governments had postponed difficult decisions and sustained inefficient arrangements, arguing that his administration chose to confront the underlying weaknesses in the economy.
“Our reforms did not create the weaknesses in our economy. They confronted them,” he said.
The President also rejected calls to return to what he described as “addictive subsidies”, saying the country must remember why the reforms were introduced.
3. Tinubu says the next phase is about prosperity
According to the President, the focus of his administration has shifted from correcting Nigeria’s economic course to achieving “shared and widespread prosperity.”
He said prosperity should not be measured only through economic statistics but by whether farmers can work safely, factories have reliable power, businesses can access credit and young Nigerians can find productive jobs.
“The emergency treatment is over. The foundation has been repaired,” he said.
4. Lowering the cost of living remains a priority
Tinubu said his administration would focus on reducing the cost of producing and transporting goods as part of efforts to bring down the cost of living.
He listed mechanised irrigation, dry-season farming, improved access to seeds and fertiliser, mechanisation, storage and transportation among the measures being pursued.
He also said roads, railways and ports were being built and completed to connect farms and factories to markets.
5. Government will prioritise jobs and industrial growth
The President said Nigeria’s young population must become an engine of production rather than a source of despair.
He said jobs, enterprise and industrial growth would remain at the centre of government policy.
Tinubu said his administration would use gas to power industries, support businesses seeking to revive factories, expand digital connectivity, invest in skills and provide Nigerian businesses with infrastructure and financing.
He also expressed a desire to see more Nigerian businesses producing goods for local consumption and export.
6. Tinubu acknowledged that millions of Nigerians are still struggling
The President acknowledged that many Nigerians continue to struggle to afford food, school fees, medical bills and transportation.
He said their difficulties predated his administration and were the result of decades of low productivity, inadequate infrastructure, insufficient opportunities and weak institutions.
“We cannot erase in four years what accumulated over generations. But we can change its course,” he said.
Tinubu said the government was strengthening support for poor households, improving the National Social Register and supporting access to education through the Nigerian Education Loan Fund.
He also cited CREDICORP, primary healthcare, basic education and public services as part of measures aimed at supporting vulnerable Nigerians.
7. Tinubu vows to defeat poverty
The President said government programmes supporting vulnerable Nigerians were not substitutes for prosperity but a bridge towards it.
“Our objective is not to manage poverty more efficiently. We will defeat it,” Tinubu said.
He acknowledged that achieving this would take time, discipline, sustained economic growth and the creation of millions of productive opportunities.
Tinubu concluded by declaring that “the age of reform has done its work” and that “now begins the age of prosperity,” urging Nigerians to look forward with faith in the country’s future.
