President Bola Tinubu has declared that Nigeria has moved beyond its period of economic reforms, saying the country is now entering an era focused on prosperity and wider opportunities for citizens.
Tinubu made the declaration in his Independence Day address to Nigerians, delivered on Thursday under the theme, “From Reforms to Prosperity.”
The President said his administration inherited an economy weighed down by deep distortions and rising poverty in 2023, arguing that difficult measures were required to correct the country’s economic direction.
According to him, the reforms had produced measurable changes, including economic growth, lower inflation from its peak, improved foreign reserves and greater stability in the foreign exchange market.
“Our reforms did not create the weaknesses in our economy. They confronted them,” Tinubu said.
He said Nigeria’s economy had grown by more than four per cent in the year, with contributions from both the oil and non-oil sectors.
Tinubu also said oil theft had declined, while non-oil exports reached more than $6 billion in 2025, which he described as the highest such revenue recorded by the country.
The President said the government’s economic priorities must now move beyond stabilisation to improving living conditions, reducing production costs and creating productive jobs.
“Now, our purpose is simple: shared and widespread prosperity,” he said.
Tinubu said his administration would focus on lowering the cost of living by expanding mechanised irrigation and dry-season farming, improving access to seeds and fertiliser, increasing mechanisation, and investing in storage and transportation.
He said the government was also building and completing roads, railways and ports to connect farms and factories with markets.
The President linked lower production and transportation costs to cheaper goods, saying savings made by farmers, manufacturers and businesses would eventually affect prices paid by consumers.
Beyond agriculture, Tinubu said jobs, enterprise and industrial growth would remain central to the government’s next phase.
“We will use our gas to power new industries. We will support businesses that work to bring factories back to life in our great industrial centres,” he said.
He also promised expanded digital connectivity, skills development and access to infrastructure and finance for Nigerian businesses.
Tinubu said the government wanted to see more Nigerians producing goods locally, more farms supplying cities and factories, and Nigerian businesses competing in international markets.
He acknowledged that millions of Nigerians were still struggling with food, education, healthcare and transportation costs, saying the difficulties predated his administration and reflected problems that had accumulated over several decades.
“We cannot erase in four years what accumulated over generations. But we can change its course,” he said.
The President said the government was strengthening direct assistance for poorer households, improving the National Social Register and expanding access to education through the Nigerian Education Loan Fund.
He also cited consumer credit provided through CREDICORP, saying the programme would help working Nigerians acquire vehicles, solar systems, digital devices and other essential assets.
Tinubu said his administration would continue working with state and local governments to strengthen primary healthcare, basic education and other public services.
He also claimed that salaries and pensions had been paid on time and in full since 2023, while reforms to the national pension programme had been introduced to benefit retirees and vulnerable Nigerians.
The President said the measures were intended to support citizens while the economy moves towards broader prosperity.
“Our objective is not to manage poverty more efficiently. We will defeat it,” he declared.
Tinubu said the task would require sustained economic growth and the creation of millions of productive opportunities across the country.
He described the current phase as a shift from economic correction to prosperity, saying the government had laid what he called the foundation for long-term growth.
“The age of reform has done its work. Now begins the age of prosperity,” Tinubu said.
Reflecting on the difficulties of the past years, the President told Nigerians that the country had reached a new stage in its economic journey.
“Nigeria has corrected its course. We have passed through our own Red Sea. This is not the time to look back,” he said.
Tinubu urged Nigerians to move forward with confidence in the country, describing the destination as a Nigeria where prosperity and opportunity would be broadly shared.
“Our destination is in sight. Our foundations are strong. Our direction is clear. So let us go forward. No looking back,” he said.
He ended the address by wishing Nigerians a happy Independence Day and asking God to bless the Federal Republic of Nigeria.