Nigeria @ 65: “We Now Have More Money to Care for Nigerians” -Tinubu

President Bola Ahmed Tinubu, in his address marking Nigeria’s 65th Independence anniversary, announced that all levels of government now have greater financial capacity to serve the Nigerian people, attributing this to his administration’s economic reforms.

“Governments now have more resources to take care of the people,” the president said, citing the removal of fuel subsidies and the unification of foreign exchange rates as pivotal reforms that freed up public funds for reinvestment into critical sectors.

Economic Reforms and Gains

President Tinubu stated that under his leadership, the Nigerian economy has made significant strides. He noted that since taking office, his administration made a conscious decision to reject “business as usual” in favour of bold reforms aimed at long-term sustainability.

“We chose the path of reform. We chose the path of tomorrow over the comfort of today,” he said. “Less than three years later, the seeds of those difficult but necessary decisions are bearing fruit.”

He highlighted that Nigeria’s Gross Domestic Product (GDP) grew by 4.23% in the second quarter of 2025, its fastest pace in four years. Inflation, according to the president, declined to 20.12% in August 2025, marking its lowest level in three years.

Other milestones mentioned include:

• A record-breaking increase in non-oil revenue, surpassing N20 trillion by August.

• Improved foreign reserves, which climbed to $42.03 billion—Nigeria’s highest since 2019.

• Nigeria recording trade surpluses for five consecutive quarters.

• A rise in tax-to-GDP ratio from below 10% to 13.5%.

• Increased oil production, reaching 1.68 million barrels per day.

• Domestic refining of petrol for the first time in four decades.

“The Worst Is Over”

Declaring that Nigeria has passed the most challenging phase of its economic overhaul, Tinubu said, “We have finally turned the corner. The worst is over, I say. Yesterday’s pains are giving way to relief.”

He also reported that the naira has stabilised following exchange rate reforms, and the gap between the official and parallel market rates has significantly narrowed. “The multiple exchange rates, which fostered corruption and arbitrage, are now part of history,” he said.

Security Achievements

On national security, the president praised the armed forces and security agencies for their efforts in combating terrorism and violent crimes. He said the nation is witnessing victories across regions, particularly in the North-East and North-West.

“We see their victories in their blood and sweat to stamp out Boko Haram terror in the North-East, IPOB/ESN terror in the South-East, and banditry and kidnapping,” he said. He added that peace has returned to hundreds of communities and that thousands have returned safely to their homes.

Youth Empowerment and National Productivity

Addressing the youth, Tinubu called them the “greatest assets” of the country and reaffirmed his administration’s commitment to providing opportunities for innovation, entrepreneurship, and education.

He cited the creation of NELFUND, which has disbursed loans to over 510,000 students across the country, and Credicorp, which has provided N30 billion in affordable loans to over 153,000 Nigerians.

Additional youth-focused initiatives mentioned included YouthCred, which offers NYSC members access to consumer credit, and the iDICE programme, which aims to support digital and creative entrepreneurs through partnerships with international development banks.

 “Let Us Be a Nation of Producers”

Tinubu urged all Nigerians to embrace a mindset of productivity and self-reliance. “Let us be a nation of producers, not just consumers,” he said. “Let us patronise ‘Made-in-Nigeria’ goods. I say Nigeria First. Let us pay our taxes.”

He called on sub-national governments to join in the renewed drive for development and productivity, stating that the federal government would continue to do its part to “fix the plumbing in our economy.”

A Message of Hope

The president acknowledged that the reforms had brought short-term pain but insisted they were necessary to avoid economic collapse. “The alternative of allowing our country to descend into economic chaos or bankruptcy was not an option,” he said.

“The true measure of our success will not be limited to economic statistics, but in the food on our families’ tables, the quality of education our children receive, the electricity in our homes, and the security in our communities.”

He concluded with a message of optimism, assuring citizens of a prosperous and self-reliant Nigeria.