President Bola Ahmed Tinubu has said Nigeria has moved beyond the difficult phase of economic reforms and is now entering a period focused on prosperity, job creation and improved living conditions for citizens.
Tinubu stated this on Thursday in his Independence Day address to Nigerians as the country marked its 66th anniversary of independence.
The President used the broadcast to defend his administration’s economic reforms while acknowledging that millions of Nigerians are still struggling with the high cost of food, education, healthcare and transportation.
He said the reforms were necessary because the economic problems confronting the country had accumulated over several decades.
According to Tinubu, his administration deliberately chose to confront those weaknesses rather than continue with policies that, in his words, merely treated the symptoms.
“Our reforms did not create the weaknesses in our economy. They confronted them,” the President said.
He acknowledged that the reforms came with significant hardship, but argued that the country is now beginning to see the benefits.
Nigeria enters a new economic phase
Tinubu said the focus of his administration is now shifting from economic stabilisation to shared and widespread prosperity.
He said the objective is not simply to produce stronger economic statistics, but to ensure that improvements are eventually felt in the daily lives of Nigerians.
The President said this means making it easier for farmers to produce, helping businesses expand, creating productive jobs and improving access to education and credit.
He also said government would continue working to reduce the cost of production and transportation, arguing that lower costs for businesses and farmers should eventually translate into lower prices for consumers.
Cost of living remains a concern
Despite the administration’s positive assessment of the economy, Tinubu admitted that many Nigerians are still facing serious financial pressure.
He noted that some families continue to struggle to pay for their next meal, school fees, medical bills and transportation to work.
The President said these problems did not begin with his administration but were the result of years of low productivity, inadequate infrastructure, limited opportunities and institutional weaknesses.
However, he said government has a responsibility to ensure that economic recovery reaches people who are still struggling.
More focus on agriculture and production
Tinubu identified agriculture as a major part of the government’s strategy to tackle food prices and strengthen domestic production.
He said the administration would continue supporting farmers through irrigation, mechanisation, improved inputs and better infrastructure.
The government also plans to improve the movement of agricultural products from farms to markets by investing in roads, railways, ports and other infrastructure.
The President said reducing production and transportation costs would be important to bringing down prices.
More jobs and opportunities for young Nigerians
Tinubu said Nigeria’s large young population should become an economic advantage rather than a source of frustration.
He said the government would focus on creating opportunities through industrial expansion, entrepreneurship, digital skills and investment.
The President also highlighted the importance of creating an environment where businesses can expand and employ more Nigerians.
He said the country needs more productive activity rather than simply relying on government employment.
Industry and investment
Tinubu said the administration would continue supporting manufacturing and other productive sectors of the economy.
He pointed to Nigeria’s gas resources, electricity supply, infrastructure and access to finance as areas that can help industries become more competitive.
The President also highlighted efforts to expand digital connectivity and equip young Nigerians with skills needed in the modern economy.
His broader objective, he said, is to increase production within Nigeria and enable Nigerian businesses to compete more effectively in international markets.
NELFUND, CREDICORP and support for citizens
resident also highlighted government programmes designed to expand access to education and finance.
He said the Nigerian Education Loan Fund (NELFUND) is helping ensure that young Nigerians from low-income families are not forced to abandon higher education simply because their parents cannot afford tuition and other expenses.
Tinubu also pointed to CREDICORP, which provides consumer credit to working Nigerians.
He said the programme allows people to acquire essential assets such as vehicles, solar systems and digital devices without having to save for years before they can afford them.
Tinubu: We cannot solve generations of problems overnight
The President acknowledged that the challenges facing Nigeria did not emerge within a single administration.
He said his government cannot erase problems that accumulated over several generations within four years, but argued that it can change the country’s direction.
That, he said, is what the reforms were designed to achieve.
Tinubu urged Nigerians not to lose faith in the country, saying the foundations for the next phase of development are now being put in place.
“Our destination is in sight”
Tinubu ended his address with an optimistic message about Nigeria’s future.
He described the country’s destination as a Nigeria of abundance and opportunity, where prosperity is broadly shared and children can aspire to lives beyond the circumstances into which they were born.
The President said Nigeria had passed through its own difficult period and should now move forward without looking back.
“Our destination is in sight. Our foundations are strong. Our direction is clear,” Tinubu said.
He then wished Nigerians a happy Independence Day and prayed for the continued progress of the Federal Republic of Nigeria.
READ RELATED STORY’
Tinubu takes Nigeria’s nuclear-free stance to UN
FG opts for low-key 66th Independence anniversary
Tinubu seeks central research fund, NDDC budget, medical college reform
