President Bola Ahmed Tinubu has declared that Nigeria has entered an “age of prosperity” following what he described as three years of difficult but necessary economic reforms.
Tinubu, in his Independence Day address to Nigerians on Thursday, October 1, 2026, said the country had endured decades of economic distortions, insecurity, political upheavals and other challenges, but remained resilient because of the determination and faith of its people.
The President said his administration inherited a difficult economic situation in 2023 and had to take difficult decisions to correct what he described as deep-rooted structural problems.
Using the analogy of a cancer patient undergoing painful treatment, Tinubu said the reforms, including the removal of fuel subsidies and changes in the foreign exchange system, were necessary to address the underlying weaknesses in the economy.
He said the reforms had begun yielding results, citing economic growth of more than four per cent, declining inflation, improved foreign reserves and greater stability in the foreign exchange market.
Tinubu also said Nigeria recorded more than $6 billion in non-oil export revenue in 2025, describing the development as evidence of increasing activity by Nigerian businesses.
According to him, the focus of government has now shifted from economic stabilisation to achieving “shared and widespread prosperity.”
He said the administration’s immediate priority would be to reduce the cost of living by lowering the cost of production and transportation, while expanding mechanised agriculture, irrigation, access to seeds and fertiliser, storage facilities and transport infrastructure.
The President also pledged continued investment in roads, railways, ports, power and digital connectivity to strengthen links between farms, factories and markets.
On employment, Tinubu said his administration would place jobs, enterprise and industrial growth at the centre of its policies, with greater use of Nigeria’s gas resources to power industries and support for businesses seeking to expand production.
He said the government would also strengthen support for vulnerable Nigerians through social protection programmes, the National Social Register, the Nigerian Education Loan Fund and consumer credit initiatives.
Tinubu said efforts would continue, in collaboration with state and local governments, to strengthen primary healthcare, basic education and other essential public services.
He acknowledged that millions of Nigerians were still struggling with food, education, healthcare and transportation costs, but said the challenges were the accumulated consequences of decades of low productivity, inadequate infrastructure and limited opportunities.
“We cannot erase in four years what accumulated over generations, but we can change its course,” he said.
The President expressed confidence that Nigeria could build an economy capable of lifting millions of people out of poverty and creating productive opportunities for its growing youth population.
He urged Nigerians to look ahead with renewed hope and collective determination, saying the country had “corrected its course” and laid the foundations for lasting prosperity.
Tinubu concluded by calling on Nigerians to unite in building a nation where prosperity is broadly shared and every child can aspire beyond the circumstances of birth.
“Let us go forward, no looking back,” he said, wishing Nigerians a happy 66th Independence anniversary.
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