President Bola Tinubu has declared that Nigeria has moved beyond the most difficult phase of his administration’s economic reforms, saying the country must now enter what he described as an “age of prosperity.”
Tinubu made the declaration on Thursday, October 1, 2026, in his Independence Day address to Nigerians as the country marked its 66th anniversary.
According to the President, reducing the cost of living remains the central focus of his administration, with government targeting lower production and transportation costs as part of efforts to make goods and services more affordable.
He said the reforms introduced by his administration had been difficult but necessary, arguing that they were aimed at correcting longstanding economic distortions.
Tinubu likened Nigeria’s pre-2023 economic situation to a patient suffering from cancer who must undergo painful treatment to survive.
“For too long, Nigeria’s leaders chose morphine while praying for a miracle that never came,” he said, insisting that his administration chose to confront what he described as the country’s deep-rooted economic problems.
The President said Nigeria’s economy had since recorded more than four per cent growth, while oil theft had declined, inflation had fallen from its peak, foreign reserves had been rebuilt and the foreign exchange market had stabilised.
He also stated that Nigeria recorded more than $6 billion in non-oil export revenue in 2025, describing the figure as the country’s highest ever.
Tinubu, however, acknowledged that millions of Nigerians are still struggling with food, education, healthcare and transportation costs.
He said the government would therefore intensify efforts to expand mechanised irrigation and dry-season farming, improve access to seeds and fertiliser, strengthen storage and transportation, and invest in roads, railways and ports.
According to him, the administration will also focus on industrial growth, job creation, digital connectivity and access to finance.
“We are therefore placing jobs, enterprise, and industrial growth at the heart of our government’s policies,” Tinubu said.
He also highlighted government programmes including the National Social Register, the Nigerian Education Loan Fund and CREDICORP, saying they were designed to support vulnerable households, students and working Nigerians.
The President maintained that the government’s objective was not merely to manage poverty but to eventually eliminate it through sustained economic growth and increased productive opportunities.
“We will defeat it,” he declared.
Tinubu said the next phase of his administration would focus on translating economic reforms into tangible improvements in the lives of Nigerians.
“The age of reform has done its work. Now begins the age of prosperity,” he said.
In his closing message, the President urged Nigerians to look forward rather than return to what he described as the difficult years of economic adjustment.
“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,” Tinubu said.
He described the “Promised Land” ahead as a Nigeria where prosperity is broadly shared and every child can aspire beyond the circumstances of birth.
“Our destination is in sight. Our foundations are strong. Our direction is clear. So let us go forward. No looking back,” he added.
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