…The President highlights reforms, says economy rebounding with lower inflation, stronger reserves, and renewed hope.
President Bola Ahmed Tinubu on Tuesday declared that Nigeria has “turned the corner” after years of economic turbulence, assuring citizens that “the worst is over” as the nation marked its 65th Independence anniversary.
In a national broadcast from the Presidential Villa, Tinubu said his administration’s tough reforms — including the removal of fuel subsidies and unification of foreign exchange rates were already delivering results, reversing years of distortions that nearly collapsed the economy.
“Yesterday’s pains are giving way to relief,” the President said. “I salute your endurance, support, and understanding. I will continue to work for you and justify the confidence you reposed in me to steer the ship of our nation to a safe harbour.”
Tinubu highlighted economic milestones including a second-quarter GDP growth of 4.23 percent, the fastest in four years and inflation easing to 20.12 percent in August, the lowest level in three years. He also noted record non-oil revenues of over ₦20 trillion in 2025, a stronger foreign reserve position at $42.03 billion, and a sustained trade surplus for five consecutive quarters. Oil production, he added, has rebounded to 1.68 million barrels per day, while the naira has stabilised.
“For the first time in four decades, Nigeria is refining petrol locally and exporting aviation fuel as the continent’s leader,” Tinubu said, framing the gains as evidence of a diversifying economy.
On national security, the President praised the armed forces for reclaiming territories from insurgents and bandits, describing their efforts as “victories written in their blood and sweat.”
He devoted a significant portion of his speech to youth, announcing progress on initiatives such as the Nigeria Education Loan Fund (NELFUND), YouthCred, and the iDICE programme. Over 510,000 students have already benefited from education loans totaling nearly ₦100 billion, he disclosed.
“You are the future and the greatest assets of this blessed country,” Tinubu said. “This government will continue to give you wings to fly sky-high.”
While celebrating resilience and progress, the President urged Nigerians to embrace productivity and self-reliance. “Let us be a nation of producers, not just consumers. Let us farm our land and build factories to process our produce. Let us patronise ‘Made-in-Nigeria’ goods. I say Nigeria first,” he declared.
Tinubu acknowledged the hardship many citizens still face but insisted that the alternative to reform would have been “economic chaos or bankruptcy.”
Closing on a note of optimism, he said success would ultimately be measured not just in statistics, but in the food on family tables, quality of education, electricity in homes, and security in communities.
“With Almighty God on our side, I can assure you that the dawn of a new, prosperous, self-reliant Nigeria is here,” Tinubu affirmed.
