On October 1, 2026, President Bola Tinubu addressed Nigerians on the country's 66th Independence Day anniversary, marking a significant milestone in the nation's journey. Tinubu stated that Nigeria has moved beyond the difficult phase of his administration's economic reforms and is now entering an "age of prosperity." This new phase focuses on creating jobs, boosting production, and improving living standards for all citizens. The President emphasized that the government's overriding purpose for the past three years has been to correct the nation's economic course.
Tinubu's address highlighted the country's progress, noting that the economy has grown by over 4 percent this year, with both oil and non-oil sectors contributing to the renewed period of stable growth. He also mentioned that oil theft is down, inflation has fallen substantially from its peak, and foreign reserves have been rebuilt. Additionally, the foreign exchange market has stabilized, and in 2025, Nigeria recorded its highest revenue from non-oil exports, exceeding $6 billion. These achievements demonstrate the positive impact of the administration's economic reforms.
The President acknowledged that the journey to this point has not been easy, with Nigerians facing numerous challenges, including war, military rule, economic crises, insecurity, and political upheaval. However, he expressed gratitude to the men and women of the Armed Forces and security services who have worked tirelessly to maintain peace and stability. Tinubu also recognized the efforts of ordinary Nigerians, such as farmers, traders, teachers, and young entrepreneurs, who have continued to believe in the country's potential and work towards a better future.
Tinubu emphasized that the government's economic reforms were necessary to address the deep-seated distortions in the economy. He likened the situation to a patient with cancer, who must choose between undergoing painful treatment or succumbing to the disease. The President stated that his administration chose to confront the economic challenges head-on, implementing reforms that were difficult but necessary. These reforms have strengthened Nigeria's economic stability and resilience, with international observers, journalists, NGOs, and multilateral institutions acknowledging the positive changes.
The President outlined his vision for Nigeria's future, focusing on shared and widespread prosperity. He envisions a country where farmers can cultivate their land safely, produce more at lower cost, and earn a decent return for their labor. Tinubu also sees a Nigeria where factories have reliable power, businesses can obtain credit, and young people can find productive work. He emphasized that this vision is not just about abstract numbers or statistics but about creating a better life for all Nigerians.
Tinubu's address also touched on the importance of sustaining the progress made so far. He warned against abandoning the economic reforms and returning to the old ways of "addictive subsidies." The President urged Nigerians to resist the "siren song" of those who would have them revert to the past, emphasizing that the country has come too far to turn back now. He expressed confidence that with continued commitment and hard work, Nigeria can achieve its full potential and become a beacon of hope and prosperity in Africa.
As Nigeria looks to the future, Tinubu's declaration of an "age of prosperity" offers a sense of hope and optimism. The President's commitment to bringing down the cost of living, improving economic opportunities, and enhancing the overall quality of life for all Nigerians is a welcome development. With the country's economy on the path to recovery and growth, Nigerians can look forward to a brighter future, one that is marked by stability, prosperity, and progress.
Key points
- President Bola Tinubu declares Nigeria has entered an "age of prosperity" after three years of economic reforms.
- Nigeria's economy has grown by over 4 percent this year, with both oil and non-oil sectors contributing to the renewed period of stable growth.
- The President's vision for Nigeria's future focuses on shared and widespread prosperity, with a emphasis on creating jobs, boosting production, and improving living standards.
