President Bola Ahmed Tinubu has announced that Nigeria is transitioning from a challenging phase of economic reforms into what he calls a time of shared and widespread prosperity.
In his Independence Day speech to the nation on Thursday, October 1, 2026, which celebrated the country’s 66th anniversary, Tinubu stood by his administration’s economic strategies, emphasizing that these reforms were essential to tackle long-standing structural issues within the economy.
He pointed out that the economy has seen growth exceeding four percent in 2026, inflation has decreased from its peak, foreign reserves have improved, and the foreign-exchange market has gained stability. Tinubu also noted the rise in non-oil exports, increased investments, and a reduction in oil theft as indicators of progress.
The President made it clear that his government would not revert to the previous fuel-subsidy system, asserting that the next phase of his administration will focus on ensuring that the benefits of these economic reforms are felt by everyday Nigerians.
He outlined key priorities such as lowering living costs, boosting food production, creating jobs, enhancing infrastructure, expanding manufacturing, and making transportation more affordable.
Tinubu mentioned plans to enhance agricultural production through mechanization, irrigation, storage, and transportation, while also improving roads, railways, and ports to lower the costs of moving goods from farms and factories to consumers.
He also emphasized initiatives aimed at young Nigerians, including support for entrepreneurship, digital skills development, industrial growth, and access to financing.
The President stated that social programs, education loans, consumer credit, healthcare, and other interventions would continue to assist vulnerable Nigerians while paving the way for greater economic independence.
While acknowledging that many Nigerians are still experiencing hardship, Tinubu argued that it’s unrealistic to expect to solve problems that have built up over decades in just a few years.
As Nigeria marks 66 years of independence, the President called for unity, resilience and continued commitment to national development.
He expressed confidence in Nigeria’s future, saying the country had corrected its economic course and was moving towards what he described as a “Promised Land” of abundance and opportunity.
Nigeria, he said, must now move forward from reform to prosperity.
