President Bola Ahmed Tinubu has declared that Nigeria has moved beyond the phase of economic reforms and entered what he described as an “age of prosperity”, promising to focus his administration on lowering the cost of living, creating jobs and expanding opportunities for Nigerians.
Tinubu made the declaration in his Independence Day address to Nigerians on Thursday, October 1, as the country marked its 66th anniversary of independence.
‘Reforms have corrected Nigeria’s course’
The President said his administration had taken difficult economic decisions since assuming office, arguing that the reforms were necessary to address longstanding weaknesses and distortions in the economy.
Using a medical analogy, Tinubu likened Nigeria’s economic situation to a patient diagnosed with cancer who must undergo difficult treatment to recover.
“Nigeria was like a sick patient who receives the terrible news that he has cancer. His doctor explains that the treatment will be difficult and painful, but that it offers a strong prospect of recovery,” he said.
Tinubu argued that his administration’s reforms did not create the weaknesses in the economy but were designed to confront them.
He said Nigeria’s economy had grown 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 cited lower oil theft, falling inflation, rebuilt foreign reserves and a more stable foreign exchange market among the gains recorded under his administration.
Tinubu further said Nigeria recorded its highest revenue from non-oil exports in 2025, exceeding $6 billion.
‘Now begins the age of prosperity’
Tinubu said the economic focus of his administration had changed from correcting the country’s economic direction to achieving “shared and 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. For three years, our overriding purpose was to correct our nation’s course.
“Now, our purpose is simple: shared and widespread prosperity.”
The President said prosperity should translate into better living conditions, including safer farming, reliable electricity for factories, access to credit for businesses and productive jobs for young Nigerians.
Insecurity gets little attention in Independence address
Muslim News gathered that while Tinubu devoted much of his Independence Day address to economic reforms, cost of living, jobs, agriculture, infrastructure and poverty, the fight against insecurity received little attention.
The President only briefly referred to the need for farmers to cultivate their land safely, without a substantial discussion of the country’s wider security challenges, despite insecurity remaining a major concern for many Nigerians.
Tinubu promises lower cost of living
Tinubu identified the reduction of the cost of living as an immediate priority, saying the government would seek to lower the cost of producing and transporting goods.
He listed mechanised irrigation, dry-season farming, improved access to seeds and fertiliser, agricultural mechanisation, storage and transportation among measures being pursued to increase food production.
He also pointed to investments in roads, railways and ports to improve connections between farms, factories and markets.
“When a farmer produces more cheaply, when fewer crops are lost between the farm and the market, when a manufacturer spends less on electricity, when a truck reaches its destination faster, and when the business environment fosters fair competition, all those savings will ultimately find their way into the price of goods in the market,” he said.
Jobs, industry to drive next phase
Tinubu said jobs, enterprise and industrial growth would remain central to the government’s policies.
He said the administration would use Nigeria’s gas resources to power industries, support businesses seeking to revive factories, expand digital connectivity and invest in skills and financing 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. I want young Nigerians building unicorns and creating opportunities for others here at home,” he said.
‘We will defeat poverty’
The President acknowledged that millions of Nigerians still struggle with food, education, healthcare and transportation costs.
“Some Nigerian families still struggle today for the next meal, the next school fee, the next medical bill, or simply enough money to get to work,” he said.
Tinubu said the government could not erase in four years challenges that had accumulated over generations but could change the country’s direction.
He highlighted direct support for poorer households, improvements to the National Social Register, the Nigerian Education Loan Fund, consumer credit through CREDICORP and continued investments in primary healthcare and basic education.
“These programmes are not substitutes for prosperity. They are a bridge to aid our nation’s citizens on their path towards it. Our objective is not to manage poverty more efficiently,” he said.
“We will defeat it.”
‘It will take time’
Tinubu acknowledged that achieving broad prosperity would require time, discipline, sustained economic growth and the creation of millions of productive opportunities.
“It will take time. It will require discipline. It will require sustained growth year after year and the creation of millions of productive opportunities across our country,” he said.
He urged Nigerians to look ahead rather than dwell on past difficulties, saying the government had corrected the country’s economic course.
‘No looking back’
The President concluded with a call for Nigerians to move forward with confidence in the country and its future.
“The age of reform has done its work.
Now begins the age of prosperity. An age in which the promise of this great nation must finally become the lived experience of Nigerians from all walks of life,” Tinubu said.
He described the future Nigeria as a country of “abundance and opportunity”, where prosperity is broadly shared and children can dream beyond the circumstances of their birth.
“Our destination is in sight. Our foundations are strong. Our direction is clear. So let us go forward. No looking back,” he said.
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