President Bola Ahmed Tinubu, in his Independence Day address, celebrated Nigeria’s achievements under his administration while defending his controversial reforms, notably the removal of the fuel subsidy. He described these decisions as difficult but essential steps toward economic recovery.
Speaking on Nigeria’s 65th anniversary of independence, Tinubu recalled inheriting “a near-collapsed economy” in 2023. He emphasized that his administration chose long-term reforms over “business as usual,” declaring:
“We chose the path of tomorrow over the comfort of today. Less than three years later, the seeds of those difficult but necessary decisions are bearing fruit. The worst is over.”
Economic Recovery Highlights
Tinubu spotlighted Nigeria’s fastest GDP growth in four years, recording a 4.23% expansion in Q2 2025, surpassing IMF expectations. Inflation dropped to 20.12% in August, the lowest in three years, while non-oil revenue reached a record N20 trillion by August.
He further noted five consecutive quarters of trade surplus and a rise in non-oil exports to 48% of total trade. Tinubu highlighted Nigeria’s achievement in refining petrol domestically for the first time in four decades and emerging as Africa’s leading exporter of aviation fuel.
Other economic indicators included foreign reserves at $42 billion, a more stable naira, oil production at 1.68 million barrels per day, and increased investor confidence demonstrated through stock market growth and upgraded sovereign credit ratings.
Infrastructure and Social Development
The president outlined key infrastructure projects, such as the Kano-Katsina-Maradi and Kaduna-Kano railways, Lagos-Calabar Coastal Highway, and Sokoto-Badagry Highway. He confirmed the approval of $3 billion to complete the Eastern Rail Project.
In social welfare, Tinubu reported disbursement of N330 billion to eight million households and emphasized initiatives like NELFUND student loans, Credicorp credit support, and youth programs including YouthCred and the iDICE innovation scheme.
Security Achievements and National Outlook
On security, Tinubu commended the military’s efforts in curbing terrorism, banditry, and violent crimes, noting peace had returned to many communities in the North-East and North-West.
While acknowledging ongoing challenges for Nigerians, he affirmed the effectiveness of reforms:
“The true measure of our success is not in statistics alone but in the food on our tables, the quality of education, electricity in our homes, and security in our communities.”
He urged citizens to focus on productivity, innovation, and patriotism:
“Let us be a nation of producers, not just consumers. Nigeria first.”
Tinubu concluded with optimism, stating:
“With Almighty God on our side, I can assure you that the dawn of a new, prosperous, self-reliant Nigeria is here.”
