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President Bola Tinubu has said Nigeria has moved beyond the phase of economic reforms and entered what he described as an “age of prosperity.”
Tinubu urged Nigerians to look ahead rather than return to policies that he said contributed to the country’s economic challenges.
The President made the remarks in his Independence Day address to Nigerians on Thursday, marking the country’s 66th anniversary.
The President acknowledged the economic difficulties still affecting millions of Nigerians and outlined his administration’s priorities for the next phase of his tenure.
Daily Sun brings to you five key takeaways from his Independence Day speech:
1. Tinubu says Nigeria’s economic outlook has improved
The President said Nigeria’s economy grew by more than four per cent in 2026, with both the oil and non-oil sectors contributing to what he described as a period of stable growth.
He also said oil theft had declined, inflation had fallen substantially from its peak, foreign reserves had been rebuilt and the foreign exchange market had stabilised.
Tinubu added that Nigeria recorded more than $6 billion in non-oil export revenue in 2025, describing it as the country’s highest ever.
2. He defended his administration’s economic reforms
Tinubu compared Nigeria’s economic situation before his administration’s reforms to a patient suffering from cancer who must undergo difficult treatment to recover.
He said successive governments had delayed difficult decisions and maintained inefficient systems, adding that his administration chose to address what he described as the underlying problems in the economy.
“Our reforms did not create the weaknesses in our economy. They confronted them,” he said.
The President also rejected calls to return to what he described as “addictive subsidies”, saying the country must remember why the reforms were introduced.
3. Tinubu says the next phase is about prosperity
According to the President, the focus of his administration has shifted from correcting Nigeria’s economic course to achieving “shared and widespread prosperity.”
He said prosperity should not be measured only through economic statistics but by whether farmers can work safely, factories have reliable power, businesses can access credit and young Nigerians can find productive jobs.
“The emergency treatment is over. The foundation has been repaired,” he said.
4. Lowering the cost of living remains a priority
Tinubu said his administration would prioritise reducing the cost of producing and transporting goods as part of efforts to ease the cost of living.
He listed mechanised irrigation, dry-season farming, improved access to seeds and fertiliser, agricultural mechanisation, storage and transportation as some of the measures being implemented.
The President also said the government was building and completing roads, railways and ports to improve connections between farms, factories and markets.
5. Government will prioritise jobs and industrial growth
Tinubu said Nigeria’s youthful population must become a driver of production and economic growth rather than a source of despair.
He said job creation, entrepreneurship and industrial development would remain central to his administration’s policies.
The President added that the government would leverage gas to power industries, support businesses seeking to revive factories, expand digital connectivity, invest in skills and provide Nigerian businesses with infrastructure and financing.
He also said he wants to see more Nigerian companies producing goods for domestic consumption and export.
