President Bola Tinubu, in his national broadcast to mark Nigeria’s 65th Independence Anniversary on Wednesday, declared that the nation has “finally turned the corner” and that the worst of the economic hardship is now behind it.
Striking a tone of resilient optimism, the President defended his administration’s sweeping reforms, acknowledging the temporary pains citizens have endured but insisting that the sacrifices are yielding results.
Economy on the Rebound
Tinubu highlighted fresh economic data to back his claims of recovery:
- GDP Growth: 4.23% in Q2 2025, the fastest in four years and above IMF projections.
- Inflation: Down to 20.12% in August 2025, its lowest in three years.
- Currency: The naira has stabilised, with a narrowing gap between official and parallel market rates.
“The worst is over, I say. Yesterday’s pains are giving way to relief,” the President assured, saluting Nigerians for their endurance.
Defending Reforms
Tinubu recalled inheriting what he called a “near-collapsed economy” and said his government chose reform over “business as usual.”
He defended the removal of fuel subsidy and the unification of foreign exchange rates, describing them as bold steps that dismantled a rentier system and redirected trillions of naira into education, healthcare, infrastructure, and social investment.
Milestones Achieved
The President listed a string of economic gains in the past two years:
- Over ₦20 trillion in non-oil revenue mobilised by August 2025.
- Debt service-to-revenue ratio cut from 97% to below 50%.
- External reserves rising to $42.03 billion, the highest since 2019.
- Five straight quarters of trade surplus, making Nigeria a net exporter.
- Oil production rebounding to 1.68m barrels/day.
- Stock market surge, with the All-Share Index leaping from 55,000 in May 2023 to 142,000 points by September 2025.
Security and Youth Empowerment
Tinubu commended the armed forces for “winning the war against terrorism, banditry and other violent crimes,” noting that hundreds of communities have been liberated and stabilised.
To Nigeria’s youth, he announced progress in empowerment schemes, including NELFUND, which has disbursed ₦99.5 billion in student loans to over 510,000 students, as well as Credicorp and YouthCred programmes designed to expand access to affordable credit.
A Call to Nationhood
Concluding his speech, the President urged Nigerians to embrace productivity and self-reliance:
“We must be a nation of producers, not just consumers. Let us patronise Made-in-Nigeria goods.”
With his message of hope, Tinubu sought to rally citizens behind his economic reforms while projecting confidence that Nigeria’s long-awaited turnaround has begun.