By Ayomide Otitoju
President Bola Tinubu has assured Nigerians that the economic reforms introduced by his administration will ultimately lead to improved living conditions and broader prosperity.
Tinubu gave the assurance in his Independence Day address to Nigerians on Thursday, October 1, as the country marked its 66th anniversary.
The President defended the reforms, saying they were introduced to address longstanding weaknesses in the economy rather than create them.
“When this Administration assumed office, we resolved to do things differently. We chose to excise the cancer. The reforms that followed were difficult. The side effects were real. Yet, we must never confuse the medicine with the disease,” Tinubu said.
He said the economy had grown by more than four per cent in 2026, with both the oil and non-oil sectors contributing to what he described as a period of stable growth.
Tinubu also cited lower inflation, reduced oil theft, rebuilt foreign reserves and a more stable foreign exchange market as signs of economic improvement. He said non-oil export revenue exceeded $6 billion in 2025, which he described as the country’s highest level on record.
According to the President, the government’s economic priorities had now shifted from stabilisation and reform towards job creation, increased production and shared prosperity.
“The emergency treatment is over. The foundation has been repaired. The central economic task before us has changed,” he said.
Tinubu said the government would focus on reducing the cost of living by increasing agricultural production, improving infrastructure, supporting industries and expanding access to finance and digital connectivity.
He also said the administration would strengthen social support programmes, education financing, healthcare and other public services to assist vulnerable Nigerians.
The President said the government’s objective was to build an economy capable of creating productive jobs and reducing poverty, while acknowledging that millions of Nigerians continued to face difficulties with food, education, healthcare and transportation costs.
He also reflected on Nigeria’s 66 years of independence, noting that the country had endured civil war, military rule, economic crises, insecurity and political upheaval.
Tinubu thanked Nigerians for their resilience and expressed confidence in the country’s future, saying the government had laid the foundations for what he described as an “age of prosperity.”
