President Bola Ahmed Tinubu, in a national broadcast to mark Nigeria’s 65th Independence Anniversary, declared that the country has emerged from its most turbulent years and is now firmly on the path to recovery.
Speaking on Wednesday in Abuja, the President reassured citizens that the painful reforms of the last two years were beginning to yield results.
“I am pleased to report that we have finally turned the corner. The worst is over, I say. Yesterday’s pains are giving way to relief. I salute your endurance, support, and understanding,” Tinubu told Nigerians.
The President highlighted encouraging economic indicators, noting that Gross Domestic Product rose by 4.23 percent in the second quarter of 2025, the fastest pace in four years and above the International Monetary Fund’s projection of 3.4 percent.
He also pointed out that inflation slowed to 20.12 percent in August its lowest in three years while food prices were gradually easing as agricultural production improved.
Tinubu further underlined “remarkable economic milestones,” including a healthier fiscal position, stronger foreign reserves, trade surpluses, and a stabilised exchange rate. Nigeria’s external reserves, he said, had risen to $42.03 billion the highest since 2019 while non-oil exports were nearly on par with oil exports.
“The multiple exchange rates which fostered corruption and arbitrage are now part of history. Our currency rate is no longer dictated solely by fluctuations in crude oil prices. Nigeria is selling more to the world than it is buying, and this is strengthening our economy,” he explained.
The President said billions saved from the removal of fuel subsidy had been channelled into infrastructure and social welfare. According to him, N330 billion had already been disbursed to eight million vulnerable households, while highway and rail projects were ongoing nationwide.
Tinubu also highlighted renewed investor confidence, citing improved sovereign credit ratings, a booming stock market, and the Central Bank’s first interest rate cut in years.
Reassuring citizens, he said: “We are building a Nigeria that works. The journey ahead is brighter than the days behind. I will continue to work for you and justify the confidence you have reposed in me to steer the ship of our nation to a safe harbour.”
