In a national broadcast marking Nigeria’s 66th Independence Anniversary, President Bola Ahmed Tinubu declared that the country has passed through its painful economic transition and is entering a new phase focused on shared growth.
Addressing the nation under the theme “From Reforms to Prosperity,” the President likened the country’s economic struggles prior to his administration to a severe illness, defending the removal of subsidies as a necessary treatment to avoid collapse. He noted that the initial corrective measures are complete, citing key economic performance indicators including GDP growth exceeding 4 percent, stabilized foreign exchange, and record non-oil export revenues topping $6 billion.
The President outlined his administration’s primary focus moving forward, which centers on reducing the cost of living by driving down production and transport costs.
Specific measures highlighted include expanding mechanized irrigation, improving transport networks connecting rural farms to urban markets, expanding gas-driven industrial projects, and strengthening targeted social relief initiatives such as the Nigerian Education Loan Fund (NELFUND) and consumer credit through CREDICORP. Calling on citizens to remain united, President Tinubu urged the nation to move forward into an era focused on job creation, local production, and sustainable economic stability.
