President Bola Ahmed Tinubu on Thursday addressed Nigerians in a nationwide broadcast to commemorate the country’s 66th Independence anniversary, outlining his administration’s assessment of the economy and its priorities for the next phase of governance.
In the address, Tinubu defended the economic reforms introduced since he assumed office, including the removal of the petrol subsidy, while acknowledging the hardship experienced by Nigerians.
The President said the country had reached a turning point, arguing that the period of emergency economic reforms had laid the foundation for a new phase focused on shared prosperity.
He also spoke on the cost of living, agriculture, job creation, security, education, social protection and measures aimed at expanding access to credit.
Here are 10 major highlights from the President’s Independence Day address:
1. Tinubu declares shift from economic reforms to prosperity
Tinubu said his administration had completed what he described as the emergency phase of economic reforms and was now moving towards a period of “shared and widespread prosperity.”
According to him, the government spent the past three years correcting structural weaknesses in the economy and rebuilding its foundation.
“The emergency treatment is over. The foundation has been repaired,” the President said in the address.
He said the focus would now be on ensuring that economic recovery translates into better living conditions for ordinary Nigerians.
2. President highlights economic growth and improved indicators
Tinubu pointed to several economic indicators which he said showed that Nigeria’s economy was recovering.
He said the economy had grown by more than four per cent in 2026, with both the oil and non-oil sectors contributing to the growth.
The President also cited a decline in inflation from its peak, improved foreign exchange stability, rebuilt foreign reserves and a record $6 billion-plus in non-oil export revenue in 2025.
Recent official data had put second-quarter 2026 GDP growth at 4.43 per cent, compared with 4.23 per cent in the same quarter of 2025.
3. Lower cost of living remains a major priority
The President said reducing the cost of living would be a central focus of the next phase of his administration.
Rather than relying solely on measures aimed at consumers, Tinubu said the government would target the cost of producing and transporting goods.
He highlighted plans to expand mechanised irrigation and dry-season farming, improve access to seeds and fertiliser, increase agricultural mechanisation and strengthen storage and transportation infrastructure.
He also pointed to ongoing investments in roads, railways and ports as part of efforts to connect farms and factories with markets.
4. Tinubu targets jobs and industrial growth
Tinubu said Nigeria’s youthful population could become a major driver of economic production if properly supported.
He said his administration would place jobs, enterprise and industrial expansion at the centre of its economic strategy.
The President highlighted gas-powered industries, the revival of factories, digital connectivity and skills development as areas that would receive attention.
He said the ultimate objective was to create an economy in which young Nigerians could find productive employment while businesses were able to expand.
5. Government plans stronger support for vulnerable Nigerians
The President said his administration was strengthening social protection measures to assist Nigerians facing economic hardship.
He said the National Social Register was being updated to improve the identification of vulnerable households and ensure that assistance reaches those most in need.
Tinubu also said the government remained committed to the timely payment of salaries and pensions as part of efforts to cushion economic pressure on households.
6. CREDICORP to expand access to consumer credit
Tinubu highlighted the role of the Nigerian Consumer Credit Corporation (CREDICORP) in expanding access to credit for working Nigerians.
He said the initiative would enable citizens to acquire assets such as vehicles, solar systems and digital devices without having to save for the full cost upfront.
The President presented consumer credit as part of the administration’s broader strategy to expand economic opportunities and improve household access to productive assets.
7. NELFUND highlighted as tool for expanding education access
The Nigerian Education Loan Fund (NELFUND) also featured in the President’s address.
Tinubu said the programme was designed to ensure that financial difficulties did not prevent students from low-income families from pursuing higher education.
The government has previously described NELFUND as a major component of its education reforms, with the State House reporting that more than 1.5 million students had gained access to higher education through the programme by May 2026.
8. Tinubu praises security agencies and cites reduction in oil theft
Security remained another major component of the President’s address.
Tinubu commended the Armed Forces and other security agencies for their efforts to maintain peace and protect the country’s resources.
He also cited the reduction in oil theft as one of the gains recorded under his administration.
The President linked improved security in the oil-producing areas to efforts to strengthen economic output and protect national revenue.
9. President defends subsidy removal and other reforms
Tinubu again defended some of the difficult economic decisions taken since his administration came into office, particularly the removal of the petrol subsidy.
He compared the country’s previous economic approach to the use of “morphine” to mask deeper problems rather than address their underlying causes.
According to him, the reforms were not responsible for the structural weaknesses in Nigeria’s economy but were introduced to confront them.
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He acknowledged that the reforms had produced painful side effects but argued that abandoning them would amount to returning to the policies that contributed to the country’s previous economic difficulties.
10. Tinubu calls for unity and patience
The President ended his address with a call for Nigerians to remain disciplined, united and focused on the country’s future.
He argued that the sacrifices made during the reform period had created the foundation for a stronger and more resilient economy.
Tinubu urged Nigerians to look beyond the difficulties of the present and remain committed to building what he described as a more prosperous Nigeria.
The President’s message comes as his administration moves to frame the next phase of its economic programme around translating macroeconomic improvements into tangible gains for households, businesses and workers.