President Bola Tinubu has declared that Nigeria has successfully navigated through its period of painful economic restructuring, announcing a transition into a new era of “shared and widespread prosperity” during his 66th Independence Day national address.
Reflecting on the economic recovery, President Tinubu highlighted key macroeconomic gains achieved under his administration’s policies, noting that national economic growth exceeded four percent in 2026 alongside a substantial drop in inflation.
He revealed that foreign exchange markets have stabilized, foreign reserves have been rebuilt, and non-oil export revenue reached a record high exceeding $6 billion in 2025.
Comparing the country’s former policy approach to a critical medical situation, Tinubu justified the tough reforms undertaken since assuming office.
“For too long, Nigeria’s leaders chose morphine while praying for a miracle that never came,” Tinubu stated. “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.”
While citing macroeconomic progress, the President acknowledged the daily hardships still facing millions of citizens regarding food affordability, healthcare, and transportation, attributing these struggles to decades of structural deficits.
“Millions of our fellow citizens cannot wait for tomorrow,” he noted. “Their struggle is the accumulated consequence of decades of low productivity, inadequate infrastructure, insufficient opportunity and institutions that too often failed those who needed them most.”
Outlining the government’s next phase, Tinubu emphasized targeted interventions aimed at driving down the cost of living, expanding mechanized agriculture, advancing consumer credit through initiatives like CREDICORP, and strengthening social safety nets.
“The emergency treatment is over. The foundation has been repaired,” he declared. “Now, our purpose is simple: shared and widespread prosperity.”
Concluding his address, the President urged Nigerians to remain steadfast as the nation moves forward from structural adjustment toward long-term development.
“The age of reform has done its work. Now begins the age of prosperity,” Tinubu said. “Nigeria has corrected its course. We have passed through our own Red Sea. This is not the time to look back. Let us go forward together.”
