President Bola Ahmed Tinubu has declared that Nigeria has emerged from the most difficult phase of his administration’s economic reforms, saying the country has now reached a turning point where the focus must shift from economic correction to shared prosperity.
Tinubu made the declaration on Thursday in his Independence Day address to Nigerians as the country marked its 66th anniversary, saying the government had confronted longstanding economic distortions and laid the foundation for a more prosperous future.
According to the President, the reforms introduced since 2023 were necessary to correct structural weaknesses that had accumulated over decades, despite the hardship associated with their implementation.
He likened the country’s economic situation before the reforms to a cancer patient who must endure difficult treatment to survive, argued that previous administrations had often relied on temporary measures instead of confronting the underlying problems.
“For too long, Nigeria’s leaders chose morphine while praying for a miracle that never came,” Tinubu said, insisting that his administration chose to “excise the cancer” rather than continue postponing difficult decisions.
The President said the reforms had produced measurable changes in the economy, noting that Nigeria’s economy had grown by more than four per cent in 2026, while both oil and non-oil sectors contributed to renewed growth.
He also cited reduced oil theft, lower inflation from its peak, rebuilt foreign reserves, greater stability in the foreign exchange market and record non-oil export earnings of more than $6 billion in 2025.
Tinubu said the developments had been recognised by international observers, multilateral institutions and the private sector, while foreign direct investment continued to rise.
“Three and a half years later, the evidence that Nigeria’s economic outlook has improved is undeniable,” he said.
The President, however, acknowledged that millions of Nigerians were still facing difficulties, stressing that the ultimate objective of the reforms was not merely to improve economic statistics but to translate growth into better living conditions.
He said the government’s new priority was “simple: shared and widespread prosperity.”
Tinubu said prosperity must mean a Nigeria where farmers could produce more cheaply and earn better returns, factories could access reliable power, businesses could obtain credit and young Nigerians could find productive employment.
He further stated that the government would continue to strengthen social support for vulnerable Nigerians while expanding access to education, healthcare and other essential services.
According to him, the administration would also improve the National Social Register, expand support for low-income households and strengthen initiatives such as the Nigerian Education Loan Fund and CREDICORP.
The President declared that the government would not abandon its reform path, particularly in response to calls for a return to what he described as unsustainable subsidy arrangements.
He said the country had now moved beyond the emergency phase of economic restructuring.
“The age of reform has done its work. Now begins the age of prosperity,” Tinubu declared.
He ended his Independence Day address with a biblical metaphor, saying Nigeria had overcome a difficult period and must now move forward.
“Nigeria has corrected its course. We have passed through our own Red Sea. This is not the time to look back,” he said.
Tinubu called on Nigerians to move forward with faith in themselves and the country, expressing confidence that the sacrifices made during the reform period would eventually yield broader prosperity and opportunity.
