President Bola Tinubu on Wednesday assured citizens that the country’s “worst days are over,” noting that his administration’s economic reforms are beginning to yield results and renew hope for a stronger, more prosperous Nigeria.
Delivering a national broadcast to commemorate Nigeria’s 65th Independence anniversary, Tinubu said his government has since May 2023 opted for “the path of tomorrow over the comfort of today,” and Nigerians are beginning to see the benefits.
“I 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. 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,” the President said.
The President praised the resilience of Nigerians, recalling the nation’s survival through civil war, military rule, and political turbulence, while still striving toward “a more perfect union.” He described the 65th anniversary as a time to honour sacrifices of the founding fathers and reflect on progress made since 1960.
Tinubu defended his reforms — including the removal of fuel subsidies and the unification of exchange rates — which he said dismantled decades of distortions. He explained that these hard choices freed up funds for investment in infrastructure, education, healthcare, and social programmes.
“In resetting our country for sustainable growth, we ended the corrupt fuel subsidies and multiple foreign exchange rates that created massive incentives for a rentier economy, benefiting only a tiny minority. Our administration has redirected the economy towards a more inclusive path, channelling money to fund education, healthcare, national security, agriculture, and critical economic infrastructure,” he said.
The President highlighted 12 key economic achievements in the last two years and four months, including GDP growth of 4.23 per cent in Q2 2025 — the fastest in four years — and inflation declining to 20.12 per cent, the lowest in three years. He cited rising non-oil revenues, reduced debt service costs, foreign reserves up to $42.03bn, a tax-to-GDP ratio at 13.5 per cent, five straight quarters of trade surpluses, and a 173 per cent surge in manufactured exports.
He also noted that oil output had recovered to 1.68 million barrels daily, local refining had resumed after four decades, and aviation fuel exports had restarted. Tinubu said the naira was more stable, credit ratings had improved, and the Central Bank had cut interest rates for the first time in five years.
On security, Tinubu declared: “They are winning the war against terrorism, banditry and other violent crimes. We see their victories in their blood and sweat to stamp out Boko Haram terror in the North-East, IPOB/ESN terror in the South-East and banditry and kidnapping,” adding that peace had returned to many communities with displaced persons returning home.
The President pledged more focus on food security, agricultural expansion, and infrastructure renewal. He urged young Nigerians to embrace opportunities through programmes like the Nigeria Education Loan Fund, which has reached over 500,000 students, and credit initiatives such as Credicorp and YouthCred. He also mentioned the $600m iDICE programme to boost the digital and creative economy.
On social investment, Tinubu said N330bn had been disbursed to eight million households. He also listed major transport projects like the Lagos-Calabar Coastal Highway and the Eastern Rail Project.
Acknowledging the hardship caused by reforms, he maintained that economic collapse was not an option. “I have always candidly acknowledged that these reforms have come with some temporary pains. The biting effects of inflation and the rising cost of living remain a significant concern to our government. However, the alternative of allowing our country to descend into economic chaos or bankruptcy was not an option,” he stressed.
The President ended his third Independence Day speech with a call for national productivity and unity. “Let us be a nation of producers, not just consumers. Let us farm our land and build factories to process our produce. Let us patronise ‘Made-in-Nigeria’ goods. I say Nigeria first. Let us pay our taxes. Finally, let all hands be on deck. With Almighty God on our side, I can assure you that the dawn of a new, prosperous, self-reliant Nigeria is here.”
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