President Bola Ahmed Tinubu has declared that Nigeria has moved beyond the difficult phase of economic reforms and entered what he described as the “age of prosperity,” assuring Nigerians that the country is now positioned for shared and sustainable economic growth.
Tinubu made the declaration in his Independence Day address to Nigerians on Thursday, October 1, 2026, marking the country’s 66th anniversary of independence.
The President acknowledged the difficulties Nigerians have faced over the years, including economic crises, insecurity, political upheaval and the consequences of longstanding structural weaknesses in the economy. He said successive governments had often postponed difficult decisions, allowing economic distortions to deepen.
According to him, his administration chose to confront those challenges through reforms, despite the immediate difficulties associated with the process.
Tinubu said the reforms had begun producing measurable results, noting that Nigeria’s economy had grown by more than four per cent in 2026, while both the oil and non-oil sectors contributed to the renewed period of growth.
He also cited a reduction in oil theft, a substantial decline in inflation from its peak, rebuilt foreign reserves and greater stability in the foreign exchange market. He added that Nigeria recorded more than $6 billion in non-oil export revenue in 2025, which he described as the highest in the country’s history.
The President said the government’s economic priority had now shifted from correcting the country’s economic direction to delivering “shared and widespread prosperity.”
He explained that prosperity, as envisioned by his administration, would mean a Nigeria where farmers could produce more cheaply and earn better returns, factories could access reliable power, businesses could obtain credit and young Nigerians could find productive employment.
Tinubu identified lowering the cost of living as a major priority, saying the government would pursue this by reducing the cost of production and transportation.
He said the administration would expand mechanised irrigation and dry-season farming, improve access to seeds and fertiliser, increase agricultural mechanisation and invest in storage and transportation infrastructure.
The President also highlighted ongoing investments in roads, railways and ports, saying better connectivity between farms, factories and markets would help reduce the cost of goods.
On employment and industrialisation, Tinubu said jobs, enterprise and industrial growth would remain central to government policy.
He said Nigeria would leverage its gas resources to power industries, support the revival of factories in industrial centres, expand digital connectivity, invest in skills required by employers and provide Nigerian businesses with infrastructure and financing needed for expansion.
“I want to see more Nigerians making things. I want to see more Nigerian farms feeding our cities and supplying our factories. I want to see Nigerian businesses selling Nigerian goods to the whole world,” the President said.
Tinubu also acknowledged that millions of Nigerians were still facing difficulties meeting basic needs, including food, school fees, medical expenses and transportation costs.
He said the government was strengthening direct support for poorer households and improving the National Social Register to ensure assistance reached people who genuinely needed it.
The President specifically cited the Nigerian Education Loan Fund, saying it was helping ensure that children from low-income families could pursue higher education without being prevented by inability to pay tuition and other institutional costs.
He also mentioned CREDICORP, saying the initiative was providing working Nigerians with access to consumer credit for vehicles, solar systems, digital devices and other essential assets.
Tinubu said the Federal Government would continue working with state and local governments to strengthen primary healthcare, basic education and other essential public services.
He further stated that salaries and pensions had been paid on time and in full since 2023, while the national pension programme had been reformed to benefit retirees and vulnerable Nigerians.
The President, however, acknowledged that eliminating poverty would require sustained economic growth and the creation of millions of productive opportunities.
“We cannot erase in four years what accumulated over generations. But we can change its course,” he said.
Tinubu declared that the government’s objective was not merely to manage poverty but to ultimately defeat it through sustained economic expansion, increased productivity and broader access to opportunities.
“The age of reform has done its work. Now begins the age of prosperity,” he declared.
Reflecting on the challenges faced since independence, Tinubu said Nigerians had made difficult choices together and must now work collectively to build on the foundations laid by the reforms.
He called on Nigerians to look forward with confidence, saying the country had “corrected its course” and passed through its own “Red Sea.”
“Our destination is in sight. Our foundations are strong. Our direction is clear. So let us go forward. No looking back,” the President said.
He concluded his Independence Day address by wishing Nigerians a happy Independence Day and invoking blessings upon the country.
