President Bola Ahmed Tinubu on Wednesday said Nigeria has turned a corner from years of economic instability and is now firmly on the path of growth, reform, and renewed hope. In his third Independence Day address since assuming office, the President assured Nigerians that the sacrifices made through economic reforms are beginning to yield tangible results across critical sectors of the country.
Speaking in a national broadcast to commemorate Nigeria’s 65th Independence Anniversary, President Tinubu paid tribute to the nation’s founding fathers and nationalists, including Nnamdi Azikiwe, Obafemi Awolowo, Ahmadu Bello, Herbert Macaulay, and Funmilayo Ransome-Kuti. He said their dream of a united and prosperous nation remains alive, even as the country continues to overcome social, political, and economic challenges.
“While we may not have achieved all the lofty dreams of our forebearers, we have not strayed too far from them. We have made tremendous progress in economic growth, social cohesion, and physical development,” Tinubu stated.
The President highlighted major policy reforms embarked upon since his administration took office in May 2023. These include the removal of fuel subsidies and the unification of foreign exchange rates—decisions he said were necessary to end systemic corruption, restore macroeconomic stability, and redirect resources toward national development. “We chose the path of reform. We chose the path of tomorrow over the comfort of today,” he said.
According to Tinubu, Nigeria’s economy recorded 4.23% GDP growth in Q2 2025—the fastest pace in four years—exceeding IMF projections. Inflation dropped to 20.12% in August 2025, the lowest in three years. He listed 12 economic milestones achieved, such as record non-oil revenue of over ₦20 trillion, improved external reserves of $42.03 billion, and a decline in debt service-to-revenue ratio from 97% to below 50%.
The President also noted a significant rebound in oil production, with daily output rising to 1.68 million barrels per day. He added that Nigeria had recorded trade surpluses for five consecutive quarters, indicating stronger export capacity, especially in non-oil sectors.
On social welfare, Tinubu said ₦330 billion has been disbursed to eight million vulnerable households under the government’s investment programmes. He further stated that the government has stabilised the Naira, closed the gap between official and parallel market rates, and is investing heavily in infrastructure, including roads, railways, and airports.
In terms of security, the President assured Nigerians that substantial progress has been made. He praised the armed forces for their ongoing efforts in combating terrorism, banditry, and other forms of criminality. He said peace has returned to many formerly embattled communities in the North-East and North-West, with thousands of displaced people returning home. “We must continue to celebrate their gallantry and salute their courage on behalf of a grateful nation,” he said.
Addressing the youth, Tinubu reiterated his administration’s commitment to education, innovation, and digital enterprise. He cited the success of the Nigerian Education Loan Fund (NELFUND), which has disbursed ₦99.5 billion in tuition loans and ₦44.7 billion in upkeep allowances to over 500,000 students across 228 institutions. Additionally, programmes like Credicorp and YouthCred have provided consumer credit and resettlement loans to tens of thousands of young Nigerians and NYSC members.
Tinubu also highlighted the forthcoming iDICE programme, driven by the Bank of Industry in partnership with international development banks, which aims to support digital and creative entrepreneurs across the country.
Acknowledging current economic difficulties, especially rising food prices and inflation, Tinubu appealed for continued patience. “The real success will be seen not just in GDP numbers, but in food on our tables, education for our children, electricity in our homes, and peace in our communities,” he said. He urged state governments and citizens to support federal efforts by producing more, consuming locally made goods, and paying taxes.
Concluding his address, the President expressed optimism that Nigeria is on the cusp of a transformation. “With Almighty God on our side, I can assure you that the dawn of a new, prosperous, self-reliant Nigeria is here,” he said.
