President Bola Ahmed Tinubu on Wednesday declared that Nigeria’s “worst days are over,” assuring citizens that his economic reforms are already showing tangible results.
In his national broadcast to mark Nigeria’s 65th Independence anniversary, the President said his administration chose “the path of tomorrow over the comfort of today” since May 2023, stressing that the gains are now visible.
“I am pleased to report that we have finally turned the corner. The worst is over, I say. Yesterday’s pains are giving way to relief,” Tinubu stated. He commended Nigerians for their endurance and pledged to justify the confidence reposed in him.
He highlighted that Nigeria had survived civil war, military rule, and political upheavals, yet remains committed to building “a more perfect union.”
Tinubu defended his tough economic reforms, including the removal of fuel subsidies and foreign exchange unification, which he said eliminated distortions and redirected resources to education, healthcare, agriculture, and infrastructure.
“In resetting our country for sustainable growth, we ended the corrupt fuel subsidies and multiple foreign exchange rates that created massive incentives for a rentier economy, benefiting only a tiny minority,” he explained.
The President pointed to improved economic indicators, including GDP growth of 4.23% in the second quarter of 2025, a decline in inflation to 20.12%, rising non-oil revenues, foreign reserves at $42.03bn, and a 173% surge in manufactured exports.
He added that local refining had restarted after four decades, oil production recovered to 1.68 million barrels per day, and the naira had stabilised. He also cited improved credit ratings, a booming stock market, and the first Central Bank interest rate cut in five years as signs of renewed investor confidence.
On security, Tinubu praised security forces for gains against terrorism, banditry, and separatist violence, noting that displaced persons had begun returning to their homes.
He also unveiled youth-focused initiatives, including the Nigeria Education Loan Fund, housing and device loans through Credicorp and YouthCred, and the $600m iDICE programme for the digital and creative industries.
The President admitted that reforms brought hardship but insisted they were necessary. “The biting effects of inflation and the rising cost of living remain a significant concern to our government. However, the alternative of allowing our country to descend into economic chaos or bankruptcy was not an option,” he said.
Concluding his third Independence Day speech, Tinubu urged productivity, unity, and patriotism: “Let us be a nation of producers, not just consumers. Let us farm our land and build factories to process our produce. Finally, let all hands be on deck. With Almighty God on our side, I can assure you that the dawn of a new, prosperous, self-reliant Nigeria is here.”
