Tinubu says Nigeria must move beyond managing poverty

President Bola Tinubu has acknowledged that millions of Nigerians remain unable to afford basic necessities, including food, school fees, medical bills and transportation. In his 66th Independence Day address, he said his administration would not be satisfied with managing poverty more efficiently but would work to defeat it. Tinubu said the hardship facing households predated his administration, describing it as the result of decades of low productivity, inadequate infrastructure, limited opportunities and institutions that had failed to serve vulnerable people adequately.

He nevertheless accepted that the government was responsible for changing those circumstances. The President said problems accumulated over generations could not be reversed within four years, but argued that the country’s direction could be changed. He said the government was strengthening direct support for the poorest households and improving the National Social Register so assistance would reach people who genuinely needed it.

He also cited the Nigerian Education Loan Fund, which he said was helping children from low-income families pursue higher education, and the Consumer Credit Corporation, or CREDICORP. According to Tinubu, the corporation allows working Nigerians to acquire essential assets such as vehicles, solar systems and digital devices without saving for years. Tinubu said the government would continue working with state and local authorities to improve primary healthcare, basic education and other services on which poorer Nigerians depend.

He also said salaries and pensions had been paid on time and in full since 2023, while the national pension programme had been reformed. The President stressed that such interventions were a bridge to prosperity rather than a permanent substitute for it. He said achieving that goal would require discipline, sustained economic growth and millions of productive opportunities.

Lowering the cost of living, he said, would be central to the next phase. Measures include increasing agricultural production, expanding mechanised irrigation, improving access to seeds and fertiliser, reducing storage losses and developing roads, railways and ports linking farms and factories to markets.