President Bola Tinubu, in his national broadcast to mark Nigeria’s 65th Independence Day, declared that the country’s “worst days are over” and insisted that the bold economic reforms his government adopted are now producing results. Since taking office in May 2023, Tinubu said his administration chose “the path of tomorrow over the comfort of today,” urging Nigerians to remain patient as the nation adjusts to economic changes.
The President highlighted a number of macroeconomic indicators as evidence of progress. He said Nigeria’s GDP grew by 4.23 per cent in the second quarter of 2025, the fastest pace in four years, while inflation dropped to 20.12 per cent, the lowest in three years. He added that foreign reserves had risen to $42.03 billion, non-oil revenue had surged, the tax-to-GDP ratio had grown to 13.5 per cent, and debt service burdens had eased. According to him, Nigeria has also recorded trade surpluses for five consecutive quarters, with manufactured exports up 173 per cent and non-oil exports now making up 48 per cent of total trade.
Tinubu also pointed to social programmes and infrastructure development. He said ₦330 billion had been disbursed to eight million households under social investment schemes, while the government was moving ahead with major transport projects, including railways, highways, ports and airports. He promised to prioritise food security and agricultural production to reduce food costs, alongside initiatives such as the Nigeria Education Loan Fund, Credicorp, YouthCred, and the $600 million iDICE programme to support digital and creative industries.
Despite his optimistic message, Tinubu acknowledged that reforms have brought “temporary pains,” with inflation, food prices and the rising cost of living still weighing heavily on citizens. He argued, however, that failing to act would have pushed Nigeria towards “economic chaos or bankruptcy.” Critics remain cautious, pointing to persistent poverty, weak institutions, and security concerns that continue to affect millions of Nigerians. Some have also raised questions about the transparency of government disbursements and whether the benefits of reform are reaching the poorest households.
The President closed his third Independence Day address with a call for unity, productivity and patriotism. He urged Nigerians to farm, build, and patronise local products, saying: “Let us be a nation of producers, not just consumers. Let us patronise ‘Made-in-Nigeria’ goods. I say Nigeria first. Let us pay our taxes. Finally, let all hands be on deck.” He expressed confidence that with perseverance, sacrifice, and divine guidance, Nigeria’s dawn of prosperity and self-reliance had begun.
