President Bola Tinubu has announced that Nigeria is transitioning towards economic prosperity, stating that the country has overcome its most challenging period. In a national broadcast marking Nigeria’s 65th Independence anniversary, the president expressed optimism about the nation’s future.
Tinubu acknowledged the resilience and support of Nigerian citizens, pledging to continue working towards delivering on his administration’s promises. He commended the people for their endurance and understanding, saying, “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.”
The president recalled that his administration inherited an economy on the brink of collapse, weakened by decades of fiscal mismanagement and distorted policies. Upon assuming office, the government had to choose between maintaining the status quo or implementing bold reforms to rescue the nation. Tinubu emphasized that the tough decisions made by his administration were necessary to prevent Nigeria from drifting into a deeper economic crisis.
Within three years, the government’s reforms, including the removal of the corrupt fuel subsidy and unification of foreign exchange, are beginning to yield positive results. These steps have dismantled incentives that sustained a rent-seeking economy and redirected resources to priority sectors. The administration has channeled funds towards education, healthcare, national security, agriculture, and critical economic infrastructure such as roads, power, broadband, and social investment programs.
Tinubu emphasized the need for collective action to accelerate development, warning that Nigeria is racing against time to address its infrastructure challenges. He called on all stakeholders to work together to fast-track development and deliver on the promise of a greater Nigeria. The president’s declaration suggests that Nigeria is making progress towards economic recovery, but the journey is far from over, and sustained efforts are required to achieve lasting prosperity.
