* Vows To Cut Cost Of Living, Create Jobs, Defeat Poverty
PRESIDENT Bola Tinubu has assured Nigerians that his economic reforms have not weaken the economy, as widely believed, but will surely lead to better days, as his promises are finally being fulfilled.
Tinubu said: “The age of reform has done its work. Now begins the age of prosperity.”
In his address on Thursday, October 1, to mark Nigeria’s 66th independence anniversary, the President stated: “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 four per cent this year. Both oil and non-oil sectors have contributed to the renewed period of stable growth.”
He continued: “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 $6billion. This is real money being made by real Nigerian businesses.
“These are not idle claims. International observers, journalists, NGOs and multilateral institutions can see the change. Each has concluded that our reforms have strengthened Nigeria’s economic stability and resilience.
“The private sector has long since delivered its verdict, and foreign direct investment continues to rise each year.”
Tinubu stressed that Nigeria had reached a turning point of prosperity, as the emergency treatment is over and the foundation has been repaired and the central economic task before the country has changed due to three years of overriding purpose to correct its course.
He enthused: “Now, our purpose is simple: shared and widespread prosperity. When I speak of prosperity, I do not speak merely of a larger economy, abstract numbers or better statistics; I mean something much more personal.
“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 hardworking families can look towards the future with confidence.”
Looking at Nigeria’s journey after independence 66 years ago and the resilience of Nigerians through thick and thin, Tinubu said: “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.”
Tinubu acknowledged that millions of Nigerians were still struggling with food costs, school fees, medical bills and transportation expenses, but added that these hardships predated the current reforms and his government could not erase in four years, problems that had accumulated over generations.
Vowing to their trajectory through sustained economic growth, increased productivity and expanded opportunities, the President said his administration would now place jobs, enterprise and industrial growth at the centre of its economic agenda, with particular emphasis on harnessing Nigeria’s youthful population as an engine of production.
He promised greater investment in gas-powered industries, the revival of factories in major industrial centres, expanded digital connectivity, skills development and improved access to infrastructure and finance for businesses, noting: “I want to see more Nigerians making things.
“I want to see more Nigerian farms feeding our cities and supplying our factories. I want to see Nigerian businesses selling Nigerian goods to the whole world.”
He commended Nigerians for believing in the country, assuring that the economy is on the right trajectory and 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 Nigerians, he stated, is the inheritance of independence, adding: “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.
