By David Akinadewo-Adekahunsi
President Bola Ahmed Tinubu on Wednesday assured Nigerians that the country has turned a corner economically and politically, declaring that “the worst is over” as the nation celebrated its 65th Independence anniversary.
In a national broadcast from the Presidential Villa, Abuja, the President said his administration’s tough reforms including the removal of fuel subsidies, unification of foreign exchange rates, and sweeping fiscal and monetary adjustments were beginning to yield tangible dividends.
Citing official figures, Tinubu revealed that the economy grew by 4.23 percent in the second quarter of 2025, the fastest pace in four years, outstripping International Monetary Fund projections.
Inflation, he added, had eased to 20.12 percent in August, the lowest level in three years.
According to him: “Yesterday’s pains are giving way to relief. I salute your endurance, support, and understanding. Together, we are laying a new foundation cast in concrete, not on quicksand.”
The President listed 12 “remarkable economic milestones” achieved in the past two years, among them: record non-oil revenue collections surpassing ₦20 trillion by August 2025; external reserves climbing to $42.03 billion, the highest since 2019; Nigeria recording five consecutive quarters of trade surplus; and oil production rebounding to 1.68 million barrels per day.
He noted that the naira had stabilised, with the once-volatile gap between official and parallel markets significantly narrowed.
The stock market, he said, had reached an all-time high of 142,000 points, while sovereign credit agencies had upgraded Nigeria’s economic outlook.
On infrastructure, Tinubu highlighted progress on major rail projects including the Kano-Katsina-Maradi and Lagos-Calabar corridors, alongside ongoing works on the Sokoto-Badagry Highway.
He also disclosed fresh approvals for $3 billion to complete the Eastern Rail Project.
Addressing national security, the President paid tribute to the armed forces, insisting that terrorism, banditry and separatist violence were being rolled back.
“Peace has returned to hundreds of our liberated communities,” he said, adding that thousands displaced by conflict had returned home.
For young Nigerians, Tinubu pledged continued support through initiatives such as the Nigeria Education Loan Fund (NELFUND), which has already disbursed ₦99.5 billion to over half a million students, and YouthCred, offering affordable consumer credit to corps members.
He acknowledged the hardship endured since his government’s reforms began in 2023, but maintained that the alternative would have been “economic chaos or bankruptcy.”
President Tinubu urged citizens to embrace productivity, innovation, tax compliance, and a preference for locally made goods.
Reflecting on Nigeria’s journey since 1960, the President invoked the memory of the country’s nationalist leaders and said their dream of a united, prosperous nation was still within reach.
“As the largest black nation on earth, it is our manifest destiny to lead Africa,” he said.
“With Almighty God on our side, I can assure you that the dawn of a new, prosperous, self-reliant Nigeria is here,” he declared.
