Tinubu Declares End of Reforms, Start of Prosperity Era

President Bola Tinubu used his 66th Independence Day address to declare that Nigeria has moved beyond the emergency phase of economic reforms and entered an "age of prosperity." He argued that his administration inherited a deeply distressed economy in 2023 and had no choice but to take difficult corrective measures.

Tinubu dismissed calls to reinstate petrol subsidies, labelling advocates as "influential but regressive voices" who would conceal structural weaknesses. He acknowledged that millions still struggle with high costs for food, education, healthcare and transport despite macroeconomic improvements.

“We cannot erase in four years what accumulated over generations. But we can change its course.”

The president cited GDP growth above four percent in 2026, declining inflation, rebuilt foreign reserves, a stabilised foreign exchange market and reduced oil theft as evidence of progress. He also noted a record $6 billion in non-oil export revenue for 2025.

Tinubu compared the economy to a cancer patient requiring painful treatment rather than symptom-suppressing morphine. He pledged that the next phase will focus on job creation, lower living costs, industrial growth and translating reforms into better living standards for ordinary citizens.