President Bola Ahmed Tinubu, on Wednesday, assured Nigerians that the worst of the nation’s economic challenges is over, highlighting reforms and achievements under his administration, as the country marked its 65th Independence Day.
Delivering a nationwide broadcast, President Tinubu reflected on Nigeria’s journey since independence in 1960, paying tribute to the nation’s founding fathers and heroes.
He acknowledged the struggles and resilience of Nigerians, recalling decades of economic, political, and social challenges, and emphasised the administration’s commitment to stabilising the economy and improving citizens’ quality of life.
“Our administration is setting things right. I am pleased to report that we have finally turned the corner. The worst is over,” the president declared, noting that “yesterday’s pains are giving way to relief.”
He commended Nigerians for their endurance, support, and understanding, promising to continue working to justify the confidence reposed in him.
The president’s message builds on a series of reforms and policy measures since he assumed office on May 29, 2023. His administration inherited an economy widely described by analysts as fragile, characterised by multiple foreign exchange rates, rising inflation, inefficient fuel subsidy systems, and sluggish non-oil revenue.
In response, the government ended fuel subsidies, harmonised exchange rates, and redirected resources to infrastructure, education, healthcare, and social welfare, measures that have been widely reported as reshaping Nigeria’s fiscal and monetary landscape.
On the economy, Tinubu highlighted achievements over the past two years, including Nigeria’s Gross Domestic Product growth of 4.23 per cent in the second quarter of 2025, surpassing the International Monetary Fund’s projected 3.4 per cent. Inflation fell to 20.12 per cent in August, marking the lowest level in three years.
The president also noted efforts to boost agricultural production, reduce food costs, and enhance food security, underscoring that these measures are part of a broader strategy to reposition Nigeria as a productive nation rather than a mere consumer economy.
Economic milestones under the administration include record increases in non-oil revenue, substantial debt reduction, strengthened foreign reserves, consecutive trade surpluses, and growth in oil production and domestic refining of petroleum products.
Previous reports from the Central Bank and Ministry of Finance confirmed these developments, noting improvements in fiscal health, a rising tax-to-GDP ratio, and greater macroeconomic stability.
The Naira has stabilised, and currency volatility, previously reported as a source of economic uncertainty, has reduced following foreign exchange reforms and fresh capital inflows.
Infrastructure and social investment programmes have also seen progress, with ongoing projects in transport networks, railways, seaports, and roads.
Social interventions, including NELFUND, YouthCred, and the iDICE programme, have delivered loans and support to hundreds of thousands of young Nigerians, fostering entrepreneurship, skill development, and enterprise. Previous stories on these initiatives highlighted the administration’s focus on equipping the youth for meaningful participation in the economy.
On national security, Tinubu commended the armed forces and other security agencies for their efforts in combating terrorism, banditry, and violent crimes. Peace has reportedly returned to hundreds of communities in the North-East and North-West, a development widely covered by local and international media in recent months.
Addressing the nation’s youth, the president encouraged innovation, enterprise, and patriotism, urging Nigerians to become producers, support local industries, and patronise ‘Made-in-Nigeria’ goods.
He stressed that the alternative of economic collapse would have been far more damaging, and emphasised that the current gains demonstrate that the sacrifices of the past years were necessary for sustainable progress.
Concluding his address, Tinubu called for unity, hope, and collective action to build a prosperous, self-reliant Nigeria.
“With Almighty God on our side, I can assure you that the dawn of a new, prosperous, self-reliant Nigeria is here,” he said.
