President Bola Ahmed Tinubu has declared that Nigeria has moved beyond the era of painful economic reforms and entered a new phase focused on shared prosperity, job creation and improved living standards.
In his Independence Day address to the nation on Thursday, October 1, 2026, President Tinubu said his administration’s economic reforms had corrected the country’s economic direction and laid the foundation for sustained growth.
“The age of reform has done its work. Now begins the age of prosperity,” the President declared.
Tinubu acknowledged that the reforms introduced by his administration had brought significant difficulties for Nigerians but argued that they were necessary to address longstanding economic distortions.
He said Nigeria’s economy had now begun to show signs of recovery, citing economic growth of more than four per cent, lower inflation from its peak, improved foreign reserves, greater stability in the foreign exchange market and increased non-oil exports.
According to the President, Nigeria recorded more than $6 billion in non-oil export revenue in 2025, which he described as the highest in the country’s history.
‘No Looking Back’
Tinubu said the government would now shift its attention from economic stabilisation to improving Nigerians’ living standards.
“Our purpose is simple: shared and widespread prosperity,” he said.
He identified reducing the cost of living as a major priority, with government efforts focused on lowering the cost of producing and transporting goods.
The President said his administration would expand mechanised irrigation and dry-season farming, improve access to seeds and fertiliser, increase agricultural mechanisation and invest in storage and transportation.
He also highlighted ongoing investments in roads, railways and ports to improve connections between farms, factories and markets.
Jobs, Industry and Young Nigerians
Tinubu said job creation and industrial growth would remain central to the government’s next phase.
He pledged to use Nigeria’s gas resources to power industries, support the revival of factories, expand digital connectivity and invest in skills required by employers.
“I want to see more Nigerians making things. I want to see more Nigerian farms feeding our cities and supplying our factories,” he said.
The President also expressed his ambition to see Nigerian businesses compete globally and young Nigerians build technology companies capable of creating jobs and opportunities at home.
Government Promises More Support for Poor Nigerians
Tinubu acknowledged that millions of Nigerians continue to struggle with food, education, healthcare and transportation costs.
He said the government was strengthening direct support for vulnerable households and improving the National Social Register to ensure assistance reaches those who need it.
He also highlighted the Nigerian Education Loan Fund, CREDICORP and investments in primary healthcare and basic education as measures designed to support Nigerians while broader economic opportunities expand.
“These programmes are not substitutes for prosperity. They are a bridge to aid our nation’s citizens on their path towards it,” Tinubu said.
‘We Will Defeat Poverty’
The President said eliminating poverty would take time and require sustained economic growth, discipline and the creation of millions of productive opportunities.
“We cannot erase in four years what accumulated over generations. But we can change its course,” he said.
Tinubu concluded his address by urging Nigerians to look forward rather than return to what he described as the economic practices of the past.
“Nigeria has corrected its course. We have passed through our own Red Sea. This is not the time to look back. Let us go forward together,” he said.
He described the Nigeria ahead as a country of “abundance and opportunity,” where prosperity is broadly shared and children can achieve 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.”
The President ended by wishing Nigerians a happy 66th Independence Day and asking for God’s blessing on the country.
