President Bola Ahmed Tinubu has declared that the country has emerged from its most turbulent years and is now firmly on the path to recovery.
The President in a national broadcast to mark Nigeria’s 65th Independence Anniversary reassured citizens that the painful reforms of the last two years were beginning to bear fruit.
“I am pleased to report that we have finally turned the corner. The worst is over, I say. Yesterday’s pains are giving way to relief. I salute your endurance, support, and understanding,” he told Nigerians in his address.
Tinubu said the economy had begun to stabilise with encouraging indicators, pointing to the nation’s strongest growth in recent years.
According to him, the Gross Domestic Product rose by 4.23 percent in the second quarter of 2025, the fastest pace in four years and well above the International Monetary Fund’s projection of 3.4 percent.
He noted that inflation had slowed to 20.12 percent in August, its lowest level in three years, while food costs were gradually easing due to improvements in agricultural production.
The President also underlined what he described as “remarkable economic milestones” achieved under his watch, including a healthier fiscal position, rising foreign reserves, a return to trade surpluses, and a stable exchange rate.
He said Nigeria’s external reserves had risen to $42.03 billion, the highest since 2019, while the country had posted five consecutive quarters of trade surplus, with non-oil exports almost on par with oil exports.
“The multiple exchange rates which fostered corruption and arbitrage are now part of history. Our currency rate is no longer dictated solely by fluctuations in crude oil prices. Nigeria is selling more to the world than it is buying, and this is strengthening our economy,” he explained.
The President said his government had redirected billions of naira saved from the removal of fuel subsidy into investments in infrastructure and social welfare.
He announced that N330 billion had already been disbursed to eight million vulnerable households across the country, while rail and highway projects were progressing in every region.
Reflecting on Nigeria’s position in the global economy, Tinubu argued that the reforms had restored investor confidence.
“The world is taking notice of our efforts. Sovereign credit rating agencies have upgraded their outlook for Nigeria, recognising our improved economic fundamentals. Our stock market is booming, and for the first time in years, the Central Bank has cut interest rates, signalling confidence in our macroeconomic stability,” he said.
Tinubu reassured citizens that the sacrifices of the past were not in vain.
“ We are building a Nigeria that works. The journey ahead is brighter than the days behind. I will continue to work for you and justify the confidence you have reposed in me to steer the ship of our nation to a safe harbour,” he declared.
