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| President Bola Tinubu. Credit: State House |
President Bola Tinubu on Wednesday assured Nigerians that the country’s most difficult days are behind it, declaring that his administration’s reforms are beginning to yield tangible results.
In a national broadcast to mark Nigeria’s 65th Independence anniversary, Tinubu said his government had deliberately chosen “the path of tomorrow over the comfort of today” since taking office in May 2023. He stressed that citizens are now witnessing the benefits of those choices.
“I am pleased to report that we have finally turned the corner. The worst is over. Yesterday’s pains are giving way to relief,” Tinubu stated. “I salute your endurance, support, and understanding. I will continue to work for you and justify the confidence you reposed in me.”
The President praised the resilience of Nigerians, noting that the country has weathered a civil war, military rule, and political turbulence, yet continues to strive toward building “a more perfect union.” He described the 65th anniversary as a moment of reflection on the sacrifices of the nation’s founding fathers and the progress made since Independence in 1960.
Tinubu defended his bold economic reforms, including fuel subsidy removal and foreign exchange unification, which he said dismantled decades of distortions and rent-seeking. According to him, these measures freed up resources for infrastructure, education, healthcare, security, and social programmes.
“In resetting our country for sustainable growth, we ended the corrupt fuel subsidies and multiple foreign exchange rates that benefited only a privileged few. Our administration has redirected the economy towards inclusivity, ensuring resources reach education, healthcare, national security, agriculture, and infrastructure,” he explained.
The President listed key economic milestones under his administration: GDP growth of 4.23% in the second quarter of 2025 the fastest in four years declining inflation now at 20.12%, stronger foreign reserves at $42.03bn, improved tax-to-GDP ratio at 13.5%, and five straight quarters of trade surpluses. He also noted that manufactured exports have risen by 173%, with non-oil exports accounting for nearly half of total trade.
Oil production, he said, has recovered to 1.68 million barrels per day, while local refining and exports of aviation fuel have resumed after four decades. He added that the naira has stabilised, debt service costs have reduced, and investor confidence is reflected in a booming stock market, improved credit ratings, and the first CBN interest rate cut in five years.
On security, Tinubu said the government is intensifying investments in defence to consolidate economic gains. “Our forces are winning the war against terrorism, banditry, and violent crime. Boko Haram in the North-East, IPOB/ESN in the South-East, and criminal groups in other regions are being stamped out. Peace has returned to many communities, and displaced persons are going back home,” he said.
He also pledged to prioritise food security, agriculture, and infrastructure to reduce living costs. The President highlighted youth-focused initiatives such as the Nigeria Education Loan Fund (already benefiting over 500,000 students), Credicorp and YouthCred schemes, and the $600m iDICE programme for the digital and creative sectors. He noted that under social investments, N330bn has been disbursed to eight million households.
Tinubu also cited progress in transport infrastructure, including rail, road, airport, and seaport projects, with major works like the Lagos-Calabar Coastal Highway and the Eastern Rail Project underway.
Acknowledging the temporary hardships caused by reforms, Tinubu appealed for patience. “The biting effects of inflation and rising living costs are a concern, but the alternative was economic chaos and bankruptcy. These sacrifices will secure a more stable future,” he said.
Concluding his third Independence Day address, Tinubu called for national unity and productivity: “Let us be a nation of producers, not just consumers. Let us patronise Made-in-Nigeria goods. Let us pay our taxes. With Almighty God on our side, the dawn of a new, prosperous, and self-reliant Nigeria is here.”
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