President Bola Tinubu told Nigerians in his 66th Independence Day address on Thursday that the painful phase of his economic reforms has passed and that the government’s central task going forward is reducing the cost of living, in what is expected to be his last such address before the 2027 election.
In the speech, titled “From Reform to Prosperity,” Tinubu compared the state of the economy he inherited in 2023 to a cancer patient requiring urgent, difficult treatment, saying poverty was rising and hope was nearly gone at the time. He argued that previous administrations had focused on symptoms rather than confronting the underlying economic distortions, and said his government chose instead to address root causes despite the short-term hardship involved. He said that phase of “emergency treatment” was now over and that the foundation had been repaired.
Tinubu pointed to economic indicators he said reflected the impact of the reforms, citing GDP growth above four percent, reduced oil theft, a stabilized foreign exchange market and $6 billion in non-oil exports in 2025. He said international observers, journalists, non-governmental organizations and multilateral institutions had independently concluded that the reforms strengthened Nigeria’s economic resilience, and noted rising foreign direct investment. Looking ahead, he said the administration’s priority would shift toward lowering the cost of producing and transporting goods and services as a means of easing living costs for citizens.
The president acknowledged that Nigeria’s journey since independence in 1960 has included periods of war, military rule, economic crisis, insecurity and political upheaval, but said the resilience of its people had carried the country through. He paid tribute to farmers, traders, teachers, entrepreneurs and members of the armed forces and security services, describing their daily efforts as the inheritance of the independence struggle. He closed by saying Nigeria’s destination was in sight and its direction clear, urging citizens to move forward without looking back.
The address came two days after Tinubu returned from a four-week working trip to Europe that drew criticism from opposition figures, including a legal challenge over his extended absence, and was delivered as Nigeria marked the holiday under the official theme “From Reforms to Stability: Consolidating Nigeria’s Renewed Hope for Shared Prosperity.”
