By Ola Taiwo
President Bola Ahmed Tinubu has said that economic policy of his administration had addressed the foundation of he nation’s economic ailment to put the economy on the right course towards growth and development.
The president in his speech on the 66th Independence anniversary of the country on Thursday noted that the implementation of the policy created hardship for people of the coutry but said the country was getting out of the hardship to begin to enjoy shared and widespread prosperity.
“The emergency treatment is over. The foundation has been repaired. The central economic task before us has changed. For three years, our overriding purpose was to correct our nation’s course.
“Now, our purpose is simple: shared and widespread prosperity,” he said.
Tinubu urged the people to remain united and resist calls to reverse the policies of his administration.
He said his administration inherited an economy weighed down by longstanding distortions and difficult choices, insisting that the reforms introduced since 2023 were necessary to correct the country’s economic direction.
“Three and a half years later, the evidence that Nigeria’s economic outlook has improved is undeniable,” he said.
The president said that the nation’s economy had grown by more than four per cent this year, while both the oil and non-oil sectors had contributed to sustained growth.
He also cited declining oil theft, reduced inflation from its peak, improved foreign exchange stability and stronger foreign reserves as evidence of progress.
Tinubu said Nigeria recorded more than $6 billion in non-oil export revenue in 2025, describing it as “real money being made by real Nigerian businesses.”
He said his administration would prioritise reducing the cost of living by lowering the cost of production and transportation, while expanding mechanised farming, irrigation, storage facilities and infrastructure linking farms, factories and markets.
The president identified job creation, enterprise development and industrial growth as central to the next phase of his administration, promising greater use of Nigeria’s gas resources to power industries, improved digital connectivity and support for businesses.
“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 stated.
Tinubu who noted that millions of Nigerians still struggle with food, education, healthcare and transportation costs, said his government would continue strengthening social protection programmes while expanding access to education and credit.
He cited the National Social Register, Nigerian Education Loan Fund and CREDICORP among initiatives aimed at supporting vulnerable households, students and working Nigerians.
The president, however, stressed that social intervention programmes were not intended to permanently manage poverty saying his administration intended to make the country overcome poverty
“Our objective is not to manage poverty more efficiently. We will defeat it,” he declared.
He said the task would require sustained economic growth, discipline and the creation of millions of productive opportunities.
The president while noting that the country has in the last 66 years experienced civil war, military rule, economic crises, insecurity and political upheaval said the resilience of Nigerians hd kept the nation together
He paid tribute to farmers, traders, teachers, entrepreneurs and members of the Armed Forces and security services for their contributions to the country.
Tinubu said the promise of independence was bigger than a flag or national anthem, stressing that it was about giving Nigerians the freedom and opportunity to shape their own destiny.
The president who said the county had passed its own Red Sea urged the people of the country not to look back to the old economic management policies but to look forward with the faith that the sacrifices that have been made under the new policy would yield reward.
“Nigeria has corrected its course. We have passed through our own Red Sea. This is not the time to look back. Let us go forward together, with faith in ourselves, faith in our country, and faith that the sacrifices we have made will yield their reward,” he stated
Tinubu described Nigeria’s destination as “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 urged: “Our destination is in sight. Our foundations are strong. Our direction is clear. So let us go forward. No looking back.”
