Reforms over, we’ve laid foundation for lasting prosperity — Tinubu

President Bola Ahmed Tinubu has declared that the “emergency treatment” of Nigeria’s economy is over, saying the next priority of his administration is to bring down the cost of living and deliver shared prosperity. Tinubu stated this in his 66th Independence Day address to Nigerians, saying the reforms implemented by his administration had corrected the country’s economic course and laid the foundation for a new phase of growth. “Our reforms did not create the weaknesses in our economy.

They confronted them,” the President said. He urged Nigerians to resist calls to abandon the reforms and return to what he described as “the abuse of addictive subsidies”, saying the country must remember why the reform journey began. “Three and a half years later, the evidence that Nigeria’s economic outlook has improved is undeniable.

Our economy has grown by over 4 per cent this year. Both oil and non-oil sectors have contributed to the renewed period of stable growth,” Tinubu said. Economic recovery The President said oil theft had declined, while inflation had fallen substantially from its peak.

He also said Nigeria’s foreign reserves had been rebuilt, the foreign exchange market had stabilised, and the country recorded its highest revenue from non-oil exports in 2025, exceeding $6 billion. “This is real money being made by real Nigerian businesses,” Tinubu said. According to him, international observers, journalists, non-governmental organisations and multilateral institutions had recognised the changes in Nigeria’s economic outlook.

International observers, journalists, NGOs and multilateral institutions can see the change. Each has concluded that our reforms have strengthened Nigeria’s economic stability and resilience,” he said. Tinubu added that the private sector had also responded to the reforms, while foreign direct investment continued to rise.

Turning point The President said Nigeria had reached a turning point, with the government’s focus shifting from economic stabilisation to delivering widespread prosperity. “My fellow Nigerians, we have reached a turning point. The central economic task before us has changed.