President Bola Tinubu has assured Nigerians that the series of economic reforms will surely lead to better days. He gave the assurance in his address to the nation on Thursday, October 1, as the country marks its 66th Independence Day anniversary.
Tinubu noted that the reforms did not weaken the economy as widely believed. He assured that the promises he made to Nigerians are finally being fulfilled.
“When this Administration assumed office, we resolved to do things differently. We chose to excise the cancer. The reforms that followed were difficult. The side effects were real. Yet, we must never confuse the medicine with the disease.
“Our reforms did not create the weaknesses in our economy. They confronted them. Now, as certain influential but regressive voices would have us abandon the treatment and return ourselves to the abuse of addictive subsidies, we must resist their siren song. We must remember why we began this journey and how far we have already come.
“Three and a half years later, the evidence that Nigeria’s economic outlook has improved is undeniable. Our economy has grown by over 4 per cent this year. Both oil and non-oil sectors have contributed to the renewed period of stable growth.”
The President noted that oil theft in producing countries has dropped; likewise, inflation has fallen “substantially”.
“Oil theft is down. Inflation has fallen substantially from its peak. Our foreign reserves have been rebuilt.
“Our foreign exchange market has stabilised, and in 2025 this country recorded its highest revenue from non-oil exports in its history, exceeding $6 billion. This is real money being made by real Nigerian businesses.
He emphasised that the country had reached a turning point of prosperity.
“The emergency treatment is over. The foundation has been repaired. The central economic task before us has changed. For three years, our overriding purpose was to correct our nation’s course.
“Now, our purpose is simple: shared and widespread prosperity.
“I mean a Nigeria in which the farmer can cultivate his land safely, produce more at lower cost, and earn a decent return for his labour.
“A Nigeria in which factories have reliable power, businesses can obtain credit, and young people can find productive work.
“A Nigeria in which food and transportation are affordable, education is within reach, and hard-working families can look towards the future with confidence”, he added.
The President reeled out Nigeria’s journey after Independence 66 years ago and the resilience of Nigerians through thick and thin.
“Sixty-six years ago today, our flag was raised, for the first time, over a free and sovereign nation. Since then, we have journeyed together as one nation, bound by our collective trust in the great promise of Nigeria: that a country of our size, our bountiful resources, our cultural diversity and, above all, our extraordinary people can build a giant in Africa; that in this blessed and fertile land we can build a united, strong and prosperous nation; a land of regional authority and global consequence.
“Our journey has not always been easy. In truth, it has generally been too hard for too many. We have known moments of great hope and periods of profound disappointment.
“We have endured war, military rule, economic crises, insecurity and political upheaval. Yet through it all, Nigeria, with the indomitable spirit of its people, has endured.
“It has endured through the efforts of the farmer who rises before dawn to work his land. The trader who opens her shop each morning, hopeful for a productive day.
“The teacher who believes in the children entrusted to her care and the young entrepreneur who refuses to surrender ambition to circumstance. We are grateful for the men and women of our Armed Forces and security services who place themselves in harm’s way so that the rest of us may live in peace.
He thanked Nigerians for believing in the country, adding that the economy is on the right trajectory.
“Through every difficulty, generations of Nigerians have continued to believe in one thing: that this country of ours will be better.
“This faith, which sustains us all, is the inheritance of independence.
“Our founding fathers did not struggle merely for a flag, an anthem or a place among the nations of the world. Independence carried a larger promise: that Nigerians would have the freedom to shape their own destiny and build a nation capable of providing opportunity, dignity and a better life for its people.
“Sixty-six years later, Almighty God has made it our responsibility to deliver that promise.
“Today, as we celebrate our independence, we must speak honestly about the journey so far, the choices we made, and the country we are determined to build from here”, he added.
