Tinubu Marks 66th Independence Anniversary with Pledge of Shared Prosperity
President Bola Tinubu has declared that his government has finished the emergency phase of its economic reforms and is now pursuing broad-based prosperity for Nigerians. He made the statement on Thursday in a national broadcast marking the country's 66th Independence Day anniversary.
During the address, the President outlined ten areas of progress and policy direction, covering economic growth, cost-of-living relief, youth employment, social protection, education, security and consumer credit.
On the economy, Tinubu said Nigeria's gross domestic product expanded by more than four per cent in 2026, with both oil and non-oil sectors contributing to the growth. He also reported that foreign reserves had been replenished, inflation had fallen from its highest point, and the foreign exchange market had become more stable. Non-oil export earnings, he added, hit an all-time high of over $6bn in 2025.
The President described bringing down the cost of living as a key priority. According to him, the government is working to lower production and transportation expenses by expanding mechanised irrigation, promoting dry-season farming and improving access to agricultural inputs. Investments in roads, railways, ports and electricity were also cited as ways to reduce the cost of doing business and ease the burden on households.
Tinubu said his administration plans to turn Nigeria's large youth population into a productive asset by placing jobs, enterprise and industrial development at the centre of national policy. He mentioned gas-powered industries, the reopening of factories, digital connectivity and skills training as areas of focus to create more opportunities for young people.
On social safety nets, the President said the National Social Register is being updated so that direct assistance reaches the poorest and most vulnerable Nigerians more effectively. He reaffirmed the government's commitment to paying salaries and pensions on time as part of efforts to protect workers and households.
He also drew attention to the Nigerian Consumer Credit Corporation, which he said is widening access to consumer credit for working Nigerians. The initiative, he explained, will allow beneficiaries to buy items such as vehicles, solar power systems and digital devices without saving for years.
In the area of education, Tinubu said the Nigerian Education Loan Fund is removing financial obstacles that prevent children from low-income families from pursuing higher education. He called NELFUND a vital tool for expanding educational opportunities and improving access to tertiary institutions.
On security, the President pointed to a decline in oil theft as a notable achievement. He praised the Armed Forces and other security agencies for their role in maintaining peace and safeguarding the nation's resources.
Tinubu also defended his decision to remove fuel subsidies and carry out structural economic reforms, acknowledging that the measures were tough but arguing they were unavoidable. He likened Nigeria's previous approach to using "morphine" to cover up deep-seated economic problems instead of tackling their root causes. The reforms, he insisted, were meant to address structural weaknesses and place the economy on a more sustainable path.
Finally, the President appealed to Nigerians to stay disciplined and keep their eyes on the future. He said the sacrifices made during the reform period were aimed at building a lasting foundation for a stronger and more resilient economy, and he urged citizens to remain united in the effort to build a more prosperous Nigeria.
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