In a national address marking Nigeria’s 65th year of independence, President Bola Tinubu delivered an optimistic assessment of the nation’s economic trajectory, asserting that the most challenging phase of recent economic restructuring has passed and the country is now witnessing sustainable growth across multiple sectors.
“I am pleased to report that we have finally turned the corner. The worst is over, I say. Yesterday’s pains are giving way to relief. I salute your endurance, support, and understanding. I will continue to work for you and justify the confidence you reposed in me to steer the ship of our nation to a safe harbour.”
Economic Renaissance
The President presented compelling economic data showing GDP growth reaching 4.23 percent in the second quarter of 2025 – the fastest in four years and significantly ahead of International Monetary Fund projections. Inflation has retreated to 20.12 percent in August, its lowest level in three years, while the nation achieved trade surpluses for five consecutive quarters.
“We chose the path of reform. We chose the path of tomorrow over the comfort of today,” Tinubu declared, defending the administration’s tough decisions. “Less than three years later, the seeds of those difficult but necessary decisions are bearing fruit.”
Fiscal Transformation Achieved
The fiscal revolution has been particularly striking, with non-oil revenue collection reaching ₦3.65 trillion in September 2025 alone – representing a 411 percent increase over May 2023 figures.
“As a result of the tough decisions we made, the Federal and State governments, including Local Governments, now have more resources to take care of the people,” the President emphasized.
The debt service-to-revenue ratio has plummeted from 97 percent to below 50 percent, while external reserves strengthened to $42.03 billion. The tax-to-GDP ratio increased from under 10 percent to 13.5 percent, with further improvements expected when new tax legislation takes effect in January.
Security and Youth Development
On national security, Tinubu reported substantial progress: “They are winning the war against terrorism, banditry and other violent crimes. We see their victories in their blood and sweat to stamp out Boko Haram terror in the North-East, IPOB/ESN terror in the South-East and banditry and kidnapping across the country.”
Addressing youth development, the President described young Nigerians as “the greatest assets” of the nation and urged them to “dream big, innovate, and conquer more territories.” The Nigerian Education Loan Fund (NELFUND) has disbursed ₦99.5 billion to 510,000 students across 228 institutions, while consumer credit programs have provided ₦30 billion in affordable financing to thousands of young Nigerians.
Infrastructure and Social Investments
The administration has redirected savings from subsidy removal toward critical infrastructure and social programs. “We will continue to work for the people and justify the trust placed in us,” Tinubu pledged, highlighting major projects including the 284-kilometre Kano-Katsina-Maradi Standard Gauge Railway and the Lagos-Calabar Coastal Highway.
The President concluded with a call for national unity and productive engagement: “Let us be a nation of producers, not just consumers. Let us farm our land and build factories to process our produce. Let us patronise ‘Made-in-Nigeria’ goods. I say Nigeria first. Let us pay our taxes.”
“On this 65th anniversary of our independence, my message is one of hope and a call to action…The federal government will continue to do its part to fix the plumbing in our economy. Now, we must all turn on the taps of productivity, innovation, and enterprise,” he affirmed.
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