Tinubu Declares ‘Age of Prosperity’ Begins, Says Nigeria Has Passed Through Economic Reforms’ Tough Phase

President Bola Ahmed Tinubu has said Nigeria has overcome a difficult economic period and is now entering a new phase focused on shared prosperity, declaring that the country has “passed through its own Red Sea.”

Tinubu stated this in his Independence Day address to Nigerians on Thursday as the nation marked its 66th anniversary of independence.

The President said Nigeria’s journey since gaining independence in 1960 had not been easy, as the country had experienced challenges including civil war, military rule, economic crises, insecurity and political instability.

However, he said the resilience, courage and determination of Nigerians had kept the country united despite the difficulties.

Tinubu paid tribute to farmers, traders, teachers, entrepreneurs and security personnel, describing them as the real strength of the nation.

He said independence was not only about national symbols but about creating a country where citizens can enjoy freedom, dignity, opportunity and a better standard of living.

According to him, Nigeria’s founding fathers fought for a nation where citizens would have the power to shape their future and build a prosperous society.

The President said when his administration assumed office in 2023, the country was facing serious economic challenges that required urgent action.

He compared Nigeria’s economic situation at the time to a patient diagnosed with cancer, saying difficult treatment was necessary to achieve recovery.

“For too long, Nigeria’s leaders chose morphine while praying for a miracle that never came,” Tinubu said.

He explained that previous approaches focused on managing problems rather than addressing their root causes, adding that his administration decided to implement reforms despite the hardship they created.

“When this Administration assumed office, we resolved to do things differently. We chose to excise the cancer,” he said.

“The reforms that followed were difficult. The side effects were real. Yet, we must never confuse the medicine with the disease.”

Tinubu maintained that the reforms introduced by his government did not create Nigeria’s economic problems but were designed to correct long-standing weaknesses.

He said the country had recorded progress, including economic growth, improved foreign reserves, stability in the foreign exchange market and increased non-oil export earnings.

“Our economy has grown by over 4 per cent this year. Both oil and non-oil sectors have contributed to the renewed period of stable growth,” he stated.

The President also said oil theft had reduced, inflation had declined from its highest point, and Nigeria recorded more than $6 billion in non-oil export revenue in 2025.

Tinubu said the country had reached a turning point, adding that the focus of his administration had shifted from stabilising the economy to delivering widespread prosperity.

“My fellow Nigerians, we have reached a turning point,” he said.

“The emergency treatment is over. The foundation has been repaired. The central economic task before us has changed.”

He said his administration’s next priority was to reduce the cost of living by lowering the cost of producing and transporting goods.

Tinubu promised continued investment in agriculture through mechanised farming, irrigation, improved access to seeds and fertiliser, storage facilities and better transportation networks.

He said the government would also continue to support industries, expand digital connectivity, improve access to finance and develop skills needed for the modern economy.

“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,” he said.

The President acknowledged that many Nigerians were still struggling with rising costs, education expenses, healthcare needs and daily living challenges.

He said the hardship experienced by citizens was the result of decades of low productivity, inadequate infrastructure and limited opportunities.

“We cannot erase in four years what accumulated over generations. But we can change its course,” Tinubu said.

He said his administration would continue to strengthen support programmes for vulnerable Nigerians, including social interventions, student loans through the Nigerian Education Loan Fund and access to consumer credit.

Tinubu said the goal of government was not simply to manage poverty but to create conditions that would help Nigerians overcome it.

“Our objective is not to manage poverty more efficiently. We will defeat it,” he declared.

The President urged Nigerians to remain committed and hopeful, saying the country had moved beyond the most difficult stage of its reforms.

“Nigeria has corrected its course. We have passed through our own Red Sea. This is not the time to look back,” Tinubu said.

He called on Nigerians to move forward with confidence, faith and unity, assuring citizens that the sacrifices made would produce better results in the future.

“The Promised Land before us is a Nigeria of abundance and opportunity; a nation where prosperity is broadly shared, where every child can dream beyond the circumstances of his birth, and where our country’s immense promise is finally reflected in the lives of our people,” he said.

Tinubu ended his address by wishing Nigerians a happy Independence Day and praying for the progress and unity of the country.

“God bless you all, and God bless the Federal Republic of Nigeria,” the President said.