President Bola Ahmed Tinubu has declared that Nigeria has moved beyond the difficult phase of economic reforms and is now entering what he described as an “age of prosperity”, as the country marked its 66th Independence Anniversary on Thursday.
In his national broadcast titled “From Reform to Prosperity”, Tinubu defended the economic choices made by his administration since 2023, arguing that the reforms were necessary to correct structural weaknesses that had accumulated over decades.
The President acknowledged that millions of Nigerians are still struggling with the cost of food, school fees, medical bills and transportation, but said these difficulties did not begin with the reforms of the last three years. He attributed the deeper problems to decades of low productivity, inadequate infrastructure, limited opportunities and institutional weaknesses.
According to him, his administration deliberately chose to confront those underlying problems rather than continue policies that merely softened their immediate effects.
Using the analogy of a cancer patient, Tinubu said Nigeria had for too long relied on what he described as “morphine” instead of treating the underlying disease. He argued that previous governments sustained inefficient arrangements and postponed difficult decisions, thereby passing the consequences from one generation to another.
He said his administration decided to “excise the cancer”, acknowledging that the treatment had produced painful side effects but insisting that the reforms should not be confused with the weaknesses they were designed to address.
“Our reforms did not create the weaknesses in our economy. They confronted them,” the President said, while rejecting calls for a return to fuel subsidies.
Tinubu warned against what he called the “siren song” of returning to what he described as addictive subsidies, arguing that doing so would undermine the economic adjustments already undertaken by the country.
He said the government’s focus has now shifted from economic stabilisation to translating the foundation created by the reforms into tangible improvements in the lives of Nigerians.
The President identified lowering the cost of living as a major priority of the next phase, saying the government would pursue this by reducing the cost of producing and transporting goods.
He specifically pointed to increased agricultural production through mechanised irrigation, improved access to seeds and fertilisers, greater mechanisation, as well as investment in storage and transportation.
Tinubu said the administration would also continue supporting Nigerians through interventions designed to provide access to education, finance and productive assets.
He cited the Nigerian Education Loan Fund as an example, saying the programme was helping students from low-income families pursue higher education despite their inability to afford school fees. He also mentioned the Consumer Credit Corporation, CREDICORP, which provides working Nigerians access to credit for vehicles, solar systems, digital devices and other essential assets.
On social protection, the President said his administration had continued to pay salaries and pensions on time and in full, while reforms to the national pension system were being implemented to benefit retirees and vulnerable Nigerians.
He, however, acknowledged that such programmes should not be mistaken for prosperity itself, describing them as bridges intended to support citizens while the wider economy moves towards stronger and more sustainable growth.
“Our objective is not to manage poverty more efficiently. We will defeat it,” Tinubu declared, while acknowledging that eliminating poverty would require sustained economic growth, discipline and the creation of millions of productive opportunities.
The President also used the anniversary to appeal for patience and continued commitment to the reform process, arguing that Nigeria now has a stronger economic foundation from which to pursue growth.
He said the country had “passed through our own Red Sea” and urged Nigerians not to look back at the policies that, in his view, contributed to the country’s previous economic difficulties.
The address also carried a strong reflection on Nigeria’s 66-year journey, with Tinubu acknowledging the country’s experiences with civil war, military rule, economic crises, insecurity and political upheaval.
He praised farmers, traders, teachers, entrepreneurs and members of the Armed Forces and security services for their contributions to the survival and development of the country.
The President said the original promise of independence went beyond the raising of the national flag and the attainment of sovereignty. According to him, independence represented the right of Nigerians to shape their own destiny and build a country capable of providing opportunity, dignity and a better life.
That promise, he said, remains the responsibility of the present generation.
The President’s declaration of a new prosperity phase comes against the backdrop of government-reported improvements in several economic indicators. The Federal Government recently said Nigeria’s real GDP grew by 4.43 per cent year-on-year in the second quarter of 2026, while citing stronger foreign reserves, expanding domestic refining capacity and increased productive activity.
Tinubu nevertheless acknowledged that economic indicators alone do not amount to prosperity and that the ultimate test would be whether Nigerians experience improvements in their daily lives.
He therefore presented the next phase of his administration as one focused on converting economic stability into lower living costs, increased production, employment and wider access to opportunities.
“The age of reform has done its work. Now begins the age of prosperity,” the President declared.
He said the destination was a Nigeria of abundance and opportunity, where prosperity would be broadly shared and where children could aspire beyond the circumstances of their birth.
As Nigeria enters its 67th year as an independent nation, Tinubu urged citizens to move forward with faith in the country, insisting that the foundations for a more prosperous future had been laid.
He ended the address with a call for Nigerians to reject pessimism and collectively build on the difficult decisions already taken.
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