President Bola Ahmed Tinubu has declared that Nigeria has moved beyond the period of difficult economic reforms and entered what he described as an “age of prosperity,” with his administration now focusing on lowering the cost of living, creating jobs and expanding productive opportunities.
Tinubu made the declaration on Thursday, October 1, 2026, in his Independence Day address to Nigerians, marking the 66th anniversary of the country’s independence.
The President said his administration inherited an economy affected by longstanding structural challenges and argued that the reforms introduced since 2023 were necessary to address those problems.
According to Tinubu, the reforms, although difficult for many Nigerians, have produced what he described as improvements in economic stability.
He cited economic growth of more than four per cent this year, a reduction in oil theft, lower inflation from its previous peak, rebuilt foreign reserves and greater stability in the foreign exchange market.
The President also said Nigeria recorded more than $6 billion in non-oil export revenue in 2025, describing the figure as the highest in the country’s history.
Tinubu said the government’s next priority is to translate economic improvements into better living conditions for Nigerians.
“Our purpose is simple: shared and widespread prosperity,” the President said.
He identified reducing the cost of living as a major priority, saying the government would focus on lowering the cost of producing and transporting food and other essential goods.
Tinubu said the administration would expand mechanised irrigation and dry-season farming, improve access to seeds and fertiliser, increase agricultural mechanisation and invest in storage and transportation infrastructure.
He also pointed to ongoing investments in roads, railways and ports as measures intended to improve the movement of agricultural and industrial goods to markets.
On employment, the President said jobs, enterprise and industrial growth would remain central to government policy, particularly as millions of young Nigerians enter the workforce each year.
He said the government would use Nigeria’s gas resources to support new industries, assist businesses seeking to revive factories, expand digital connectivity and invest in skills development and access to finance.
Tinubu also acknowledged that many Nigerians continue to face difficulties meeting basic needs, including food, education, healthcare and transportation costs.
He said the government was strengthening social support programmes and improving the National Social Register to ensure assistance reaches vulnerable households.
The President further highlighted the Nigerian Education Loan Fund and CREDICORP as initiatives intended to expand access to higher education and consumer credit.
He said the Federal Government would continue working with state and local governments to strengthen primary healthcare, basic education and other essential public services.
Tinubu maintained that the government’s social intervention programmes were intended to support vulnerable Nigerians while the wider economy creates more sustainable opportunities.
“We cannot erase in four years what accumulated over generations. But we can change its course,” he said.
The President urged Nigerians to remain focused on the country’s future, arguing that the difficult reforms of the past three years had laid the foundation for what he described as sustained prosperity.
He concluded his address by calling on Nigerians to move forward together, saying the country’s destination was a nation where prosperity is broadly shared and opportunities are available regardless of people's circumstances of birth.
Tinubu wished Nigerians a happy Independence Day and called for continued faith in the country and its future.
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