President Bola Ahmed Tinubu on Tuesday assured Nigerians that the country has turned the corner economically, urging citizens to endure current hardships with hope for a better future.
In a nationwide broadcast to mark Nigeria’s 65th Independence Anniversary, Tinubu said the reforms taken by his administration since May 2023 are beginning to yield results.
“Yesterday’s pains are giving way to relief. I salute your endurance, support, and understanding,” the President said.
Economic Reforms
Tinubu defended the removal of fuel subsidies and the unification of foreign exchange rates, describing them as tough but necessary choices. He said the measures have freed up resources for investment in education, healthcare, security, and infrastructure.
According to him, the economy grew by 4.23% in Q2 2025, outpacing IMF projections, while inflation dropped to 20.12%, the lowest in three years. The President also noted that external reserves have risen to $42.03 billion, oil production has recovered to 1.68 million barrels per day, and non-oil exports now account for almost half of Nigeria’s trade.
Relief for Citizens
On social welfare, Tinubu said ₦330 billion has been disbursed to 8 million households under the conditional cash transfer scheme. He also highlighted student loan programmes, with over 510,000 students benefiting, and credit facilities to help young Nigerians access consumer loans, digital devices, and home upgrades.
“These initiatives are designed to ease the burden of our people and give hope to the next generation,” he said.
Security Gains
The President praised the armed forces for reclaiming communities from terrorists and bandits in the North-East and North-West, noting that thousands of displaced persons have returned home.
“They are winning the war against terrorism, banditry, and other violent crimes,” he declared.
A Call to Action
Tinubu urged state governments, local councils, and citizens to complement federal efforts by promoting productivity, patronising local goods, and paying taxes.
“Let us be a nation of producers, not just consumers. I say Nigeria first,” he said.
While celebrating the country’s resilience since independence in 1960, Tinubu acknowledged the sacrifices of citizens under ongoing reforms but insisted they are necessary for lasting prosperity.
“With Almighty God on our side, I can assure you that the dawn of a new, prosperous, self-reliant Nigeria is here,” he concluded.
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