Tinubu says Nigeria is entering an era of prosperity after economic reforms
President Bola Tinubu said Nigeria had moved beyond the most difficult phase of his administration’s economic reforms and was entering an “age of prosperity”. In his Independence Day address, he cited growth, lower inflation, rebuilt reserves and higher non-oil export revenue while promising a focus on jobs and living standards.
President Bola Tinubu has declared that Nigeria is moving from economic reform to an “age of prosperity”, saying the administration’s focus will now shift towards jobs, production and improved living standards. Tinubu made the statement in his Independence Day address on Thursday, as Nigeria marked its 66th anniversary. He said the government’s main task during its first three years had been to correct the country’s economic direction.
“The emergency treatment is over. The foundation has been repaired,” the President said, adding that the new objective was “shared and widespread prosperity”. He defended the reforms as necessary responses to economic weaknesses that had developed before his administration took office.
Tinubu said the measures had been difficult and had produced real side effects, but argued that they had confronted rather than created the country’s economic problems. He criticised calls to abandon the reforms and return to what he described as inefficient subsidy arrangements. According to the President, Nigeria’s economy has grown by more than 4 per cent this year, with contributions from both the oil and non-oil sectors.
He also said oil theft had declined, inflation had fallen substantially from its peak, foreign reserves had been rebuilt and the foreign-exchange market had stabilised. Tinubu further said non-oil exports generated more than $6bn in 2025, describing it as the country’s highest revenue from that source. He said international observers, multilateral institutions and the private sector had recognised improvements in economic stability and resilience, while foreign direct investment continued to rise.
The President said prosperity should be measured in practical terms rather than only through economic statistics. He referred to farmers producing safely and earning fair returns, factories receiving reliable power, businesses accessing credit and young people finding productive work. He also said the government’s priority would be to reduce living costs by lowering the expense of producing and transporting goods.
Tinubu linked the promise of independence to opportunity, dignity and a better life for Nigerians.
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