By Our Correspondent
President Bola Tinubu has declared that Nigeria has moved beyond the difficult phase of economic reforms, announcing the beginning of what he described as a new “age of prosperity” focused on jobs, production, lower living costs and poverty reduction.
Tinubu made the declaration in his Independence Day address to Nigerians on Thursday as the country marked its 66th anniversary, saying the reforms undertaken by his administration had laid the foundation for sustainable economic growth.
The President said when his administration assumed office in 2023, poverty was rising, hope was diminishing and the economy required urgent intervention.
He likened the reforms to the painful treatment of a serious illness, arguing that successive governments had relied for too long on temporary measures instead of addressing the structural weaknesses confronting the economy.
“Reforms did not create our weaknesses. They confronted them,” Tinubu said.
According to him, the difficult measures were necessary to correct the country’s economic course and create a foundation for long-term prosperity.
The President said the reforms were already producing measurable results, citing economic growth of more than four per cent in 2026, reduced oil theft, a substantial decline in inflation from its peak, improved stability in the foreign exchange market and the rebuilding of foreign reserves.
He also said Nigeria’s non-oil export revenue exceeded $6 billion in 2025, describing it as the highest in the country’s history.
Tinubu said the immediate phase of economic stabilisation had now been completed and that the administration would shift its attention to translating the reforms into tangible improvements in the lives of citizens.
“The emergency treatment is over. The foundation has been repaired. Now, our purpose is simple: shared and widespread prosperity,” he said.
He identified reducing the cost of living as a major priority, saying the government would pursue cheaper production and transportation through increased agricultural output, mechanised irrigation, improved access to seeds and fertiliser, better storage and stronger transport infrastructure.
The President said investments in roads, railways and ports would also help reduce the cost of moving goods and strengthen domestic production.
On employment, Tinubu said job creation, enterprise development and industrial expansion would remain central to the next phase of his administration.
He said the government would expand the use of gas to power industries, revive factories, improve digital connectivity and provide Nigerians with skills, infrastructure and financing to establish and grow businesses.
“We must produce more of what we consume. We must grow more of what we eat. We must manufacture more of what we use. And we must export more of what we make,” he said.
Tinubu acknowledged that millions of Nigerians continued to struggle with food costs, school fees, medical bills and transportation expenses.
He said those difficulties reflected decades of low productivity, inadequate infrastructure, insufficient economic opportunities and weak institutions, adding that the government was strengthening social support programmes alongside its economic reforms.
He cited the National Social Register, NELFUND, CREDICORP, primary healthcare and basic education interventions, as well as measures to protect salaries and pensions.
The President also highlighted pension reforms aimed at strengthening the system and improving security for retirees.
“Our objective is not to manage poverty more efficiently. We will defeat it,” Tinubu declared.
He urged Nigerians to remain focused on the opportunities created by the reforms, saying the country had overcome a difficult period and must now concentrate on building a more productive economy.
“The age of reform has done its work. Now begins the age of prosperity,” he said.
Tinubu added, “Nigeria has corrected its course. We have passed through our own Red Sea. This is not the time to look back.”
He said his administration would continue to pursue a Nigeria of abundance and opportunity, with increased production, more jobs and improved living conditions for citizens.
