By Our Correspondent, Warri
President Bola Ahmed Tinubu on Wednesday assured Nigerians that the country’s economy is firmly on the path of recovery, declaring that “the worst is over” as he addressed the nation on the occasion of Nigeria’s 65th Independence Anniversary.
In his third independence broadcast since assuming office in May 2023, Tinubu said the reforms introduced by his administration, though painful at first, were beginning to yield results.
He cited improvements in economic indicators, including a 4.23% GDP growth in the second quarter of 2025, a fall in inflation to 20.12%—the lowest in three years—and a rebound in oil production to 1.68 million barrels per day.
“Our economy is recovering fast, and the reforms we started over two years ago are delivering tangible results,” the president said. “Yesterday’s pains are giving way to relief. I salute your endurance, support, and understanding.”
Highlighting 12 key achievements of his administration, Tinubu pointed to record non-oil revenue, increased foreign reserves at $42.03 billion, stabilisation of the naira, expansion of non-oil exports, and disbursement of N330 billion to eight million poor households under social investment programmes.
He also cited progress in infrastructure, including major rail projects such as the Kano-Kastina-Maradi line, Lagos-Calabar Coastal Highway, and Sokoto-Badagry Highway, as well as upgrades in aviation, ports, and energy. Sovereign credit upgrades and stock market gains, he said, underscored growing international confidence in Nigeria’s economy.
On security, the president praised the armed forces and security agencies for “winning the war against terrorism, banditry and other violent crimes,” noting that peace had returned to several previously troubled communities in the North-East and North-West.
Addressing young Nigerians, Tinubu pledged sustained support through initiatives like the Nigerian Education Loan Fund (NELFUND), Credicorp loans, YouthCred for NYSC members, and the iDICE programme for digital and creative enterprises. “You are the future and the greatest assets of this blessed country,” he told them.
While acknowledging that the cost of living and inflation remain major concerns, Tinubu insisted the alternative to reforms would have been “economic chaos or bankruptcy.”
He urged Nigerians to embrace productivity, innovation, and patronage of made-in-Nigeria goods, stressing that nation-building requires the collective efforts of federal, state, and local governments alongside citizens.
“As we mark 65 years of nationhood, let us believe, once more, in the boundless potential of our great nation,” he said. “With Almighty God on our side, the dawn of a new, prosperous, self-reliant Nigeria is here.”
President Bola Ahmed Tinubu on Wednesday assured Nigerians that the country’s economy is firmly on the path of recovery, declaring that “the worst is over” as he addressed the nation on the occasion of Nigeria’s 65th Independence Anniversary.
In his third independence broadcast since assuming office in May 2023, Tinubu said the reforms introduced by his administration, though painful at first, were beginning to yield results.
He cited improvements in economic indicators, including a 4.23% GDP growth in the second quarter of 2025, a fall in inflation to 20.12%—the lowest in three years—and a rebound in oil production to 1.68 million barrels per day.
“Our economy is recovering fast, and the reforms we started over two years ago are delivering tangible results,” the president said. “Yesterday’s pains are giving way to relief. I salute your endurance, support, and understanding.”
Highlighting 12 key achievements of his administration, Tinubu pointed to record non-oil revenue, increased foreign reserves at $42.03 billion, stabilisation of the naira, expansion of non-oil exports, and disbursement of N330 billion to eight million poor households under social investment programmes.
He also cited progress in infrastructure, including major rail projects such as the Kano-Kastina-Maradi line, Lagos-Calabar Coastal Highway, and Sokoto-Badagry Highway, as well as upgrades in aviation, ports, and energy. Sovereign credit upgrades and stock market gains, he said, underscored growing international confidence in Nigeria’s economy.
On security, the president praised the armed forces and security agencies for “winning the war against terrorism, banditry and other violent crimes,” noting that peace had returned to several previously troubled communities in the North-East and North-West.
Addressing young Nigerians, Tinubu pledged sustained support through initiatives like the Nigerian Education Loan Fund (NELFUND), Credicorp loans, YouthCred for NYSC members, and the iDICE programme for digital and creative enterprises. “You are the future and the greatest assets of this blessed country,” he told them.
While acknowledging that the cost of living and inflation remain major concerns, Tinubu insisted the alternative to reforms would have been “economic chaos or bankruptcy.”
He urged Nigerians to embrace productivity, innovation, and patronage of made-in-Nigeria goods, stressing that nation-building requires the collective efforts of federal, state, and local governments alongside citizens.
“As we mark 65 years of nationhood, let us believe, once more, in the boundless potential of our great nation,” he said. “With Almighty God on our side, the dawn of a new, prosperous, self-reliant Nigeria is here.”
