Tinubu: Nigeria Enters Age of Prosperity After Three Years of Painful Reforms

President Bola Tinubu has declared that Nigeria has moved beyond the phase of economic emergency reforms and entered what he described as the “age of prosperity,” assuring Nigerians that the government’s next priority is to translate economic gains into improved living standards, jobs and opportunities.

Tinubu made the declaration in his Independence Day address to Nigerians on Thursday, marking the nation’s 66th anniversary of independence.

The President acknowledged that the economic reforms introduced by his administration had imposed significant hardship on citizens, but insisted that the measures were necessary to correct deep-rooted distortions in the economy and place the country on a sustainable growth path.

According to him, Nigeria inherited an economy characterised by rising poverty, economic distortions and unsustainable arrangements, leaving the government with no option but to undertake difficult reforms.

Using a medical analogy, Tinubu likened the Nigerian economy to a sick patient who had been diagnosed with cancer, arguing that previous administrations had treated the symptoms rather than confronting the underlying problems.

He said his administration chose to “excise the cancer”, despite the painful side effects of the treatment.

Tinubu said the reforms had now begun to produce measurable results, citing economic growth of more than four per cent, declining inflation from its peak, increased foreign reserves, greater stability in the foreign exchange market and a rise in non-oil exports.

He also stated that Nigeria recorded more than $6 billion in non-oil export revenue in 2025, describing the figure as evidence of increased productive activity by Nigerian businesses.

The President said oil theft had also declined, while foreign direct investment continued to rise.

“Three and a half years later, the evidence that Nigeria’s economic outlook has improved is undeniable,” Tinubu said.

He declared that the government’s central economic objective had now shifted from correcting the nation’s economic course to achieving “shared and widespread prosperity.”

Tinubu said the new phase would focus on reducing the cost of living by lowering the cost of production and transportation, while improving agricultural productivity, infrastructure and industrial capacity.

He said the government would expand mechanised irrigation and dry-season farming, improve access to seeds and fertiliser, increase agricultural mechanisation and invest in storage and transportation.

The President also promised continued investment in roads, railways and ports to connect farms and factories to markets.

According to him, reducing production costs for farmers and manufacturers, cutting post-harvest losses and improving transportation would ultimately help bring down the prices of goods in the market.

He identified job creation, enterprise development and industrial growth as key priorities, particularly given Nigeria’s youthful population.

Tinubu said his administration would use the country’s gas resources to power industries, support the revival of factories, expand digital connectivity and invest in skills required by employers.

He also expressed his desire to see more Nigerian-made products exported to international markets, while encouraging young Nigerians to build technology companies and create employment opportunities.

The President, however, acknowledged that millions of Nigerians continued to struggle with food, education, healthcare and transportation costs.

He said the hardship confronting many households predated his administration and was the cumulative result of decades of low productivity, inadequate infrastructure and insufficient economic opportunities.

“We cannot erase in four years what accumulated over generations. But we can change its course,” he said.

Tinubu said the government was strengthening social intervention programmes to protect vulnerable Nigerians, including improvements to the National Social Register to ensure that support reaches poorer households.

He also highlighted the Nigerian Education Loan Fund, NELFUND, as part of efforts to enable students from low-income families access higher education.

The President said the Consumer Credit Corporation, CREDICORP, was similarly providing working Nigerians with access to credit for vehicles, solar systems, digital devices and other essential assets.

He promised continued collaboration with state and local governments to strengthen primary healthcare, basic education and other essential public services.

Tinubu also claimed that salaries and pensions had been paid on time and in full since 2023, while reforms to the national pension programme had been introduced to benefit retirees and vulnerable Nigerians.

He stressed, however, that social intervention programmes were not substitutes for economic prosperity but bridges to help vulnerable citizens participate in a growing economy.

“Our objective is not to manage poverty more efficiently. We will defeat it,” he declared.

The President said achieving that objective would require sustained economic growth, discipline and the creation of millions of productive opportunities.

According to him, the government had laid the foundation for lasting prosperity by taking difficult decisions to correct the country’s economic direction.

He therefore described the next phase of his administration as the “age of prosperity”, saying the ultimate objective was to ensure that economic growth translated into better living conditions for Nigerians.

Tinubu urged Nigerians to remain united and optimistic, saying the country had “corrected its course” and was moving towards a future of greater opportunity and shared prosperity.

“Nigeria has corrected its course. We have passed through our own Red Sea. This is not the time to look back. Let us go forward together,” he said.

He described the Nigeria he envisaged as “a nation where prosperity is broadly shared, where every child can dream beyond the circumstances of his birth, and where our country’s immense promise is finally reflected in the lives of our people.”

The President concluded by urging Nigerians to look forward with faith in the country and confidence that the sacrifices made during the reform period would ultimately produce greater opportunities.

“Now begins the age of prosperity,” Tinubu declared.