INDEPENDENT DAY
President Bola Ahmed Tinubu has declared that Nigeria has entered what he described as “the age of prosperity,” following what he said was the completion of the emergency phase of his administration’s economic reforms.
The President made the statement in his Independence Day address to Nigerians on Thursday, October 1, 2026, as Nigeria marked its 66th Independence Anniversary.
In the address, titled “From Reform to Prosperity,” Tinubu said the country had reached a turning point after three and a half years of economic reforms.
“The emergency treatment is over. The foundation has been repaired,” the President said, explaining that the government’s central economic objective had now shifted from correcting the country’s economic direction to achieving shared and widespread prosperity.
PRESIDENT HIGHLIGHTS ECONOMIC PERFORMANCE
Tinubu said Nigeria’s economy has grown by more than four per cent in 2026, with contributions from both the oil and non-oil sectors.
He also said oil theft had declined, inflation had fallen substantially from its peak, foreign reserves had been rebuilt and the foreign exchange market had stabilised.
According to the President, Nigeria recorded its highest-ever revenue from non-oil exports in 2025, exceeding $6 billion.
These figures represent the President’s assessment of the country’s economic performance as presented in his Independence Day address.
LOWERING THE COST OF LIVING
Tinubu said the next phase of the government’s economic programme would focus on reducing the cost of living.
He identified lower production and transportation costs as key to achieving this objective, while highlighting investment in mechanised irrigation, dry-season farming, seeds, fertiliser, agricultural mechanisation, storage and transportation.
He also said the government was continuing to build and complete roads, railways and ports linking farms and factories to markets.
JOBS, INDUSTRY AND YOUNG NIGERIANS
The President said job creation, enterprise and industrial growth would remain at the centre of the next phase of his administration.
He said the government would use Nigeria’s gas resources to support new industries, help revive factories, expand digital connectivity and provide skills, infrastructure and financing to Nigerian businesses.
Tinubu also said he wanted to see more Nigerian businesses producing goods for domestic consumption and international markets, while young Nigerians build businesses and create opportunities at home.
SUPPORT FOR VULNERABLE NIGERIANS
The President acknowledged that millions of Nigerians are still struggling with basic needs, including food, school fees, medical expenses and transportation.
He said the government would strengthen direct support for poorer households and improve the National Social Register to ensure assistance reaches people who genuinely need it.
He also highlighted the Nigerian Education Loan Fund (NELFUND) and CREDICORP as programmes intended to expand access to education and consumer credit.
Tinubu further said his administration would continue working with state and local governments to strengthen primary healthcare, basic education and other essential public services.
“WE WILL DEFEAT POVERTY”
Tinubu said the government’s objective was not simply to manage poverty, but to eventually defeat it through sustained economic growth and the creation of millions of productive opportunities.
He acknowledged that the problems accumulated over generations could not be erased within four years, but argued that the country could change its direction and build an economy capable of steadily lifting people out of poverty.
“THE AGE OF REFORM HAS DONE ITS WORK”
Concluding his address, Tinubu said Nigeria had corrected its economic course and urged citizens to look forward rather than return to the past.
He described the country as having “passed through our own Red Sea” and called on Nigerians to move forward together with faith in the country and confidence that the sacrifices made would eventually produce results.
“The age of reform has done its work. Now begins the age of prosperity,” the President said.
He ended by wishing Nigerians a happy Independence Day and praying for the Federal Republic of Nigeria.
The State House, Abuja.
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