President Bola Tinubu has assured Nigerians that the economic reforms introduced by his administration will ultimately deliver improved living conditions and broader prosperity.

Tinubu gave the assurance in his Independence Day address to Nigerians on Thursday, October 1, as the country marked its 66th anniversary of independence.

The President acknowledged the difficulties associated with the reforms but argued that they were introduced to address longstanding weaknesses in the nation’s economy rather than create them.

According to him, the administration deliberately chose a different approach upon assuming office, despite the immediate hardship caused by the measures.

“When this Administration assumed office, we resolved to do things differently. We chose to excise the cancer. The reforms that followed were difficult. The side effects were real. Yet, we must never confuse the medicine with the disease.

“Our reforms did not create the weaknesses in our economy. They confronted them. Now, as certain influential but regressive voices would have us abandon the treatment and return ourselves to the abuse of addictive subsidies, we must resist their siren song. We must remember why we began this journey and how far we have already come,” he said.

Tinubu said economic indicators showed that the country had begun to record stronger growth, noting that Nigeria’s economy expanded by more than four per cent during the year.

He said both the oil and non-oil sectors had contributed to what he described as a period of sustained economic growth.

“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,” the President said.

Tinubu also highlighted improvements in oil theft, inflation, foreign reserves and the foreign exchange market.

He said Nigeria recorded more than $6 billion in non-oil export revenue in 2025, describing it as the highest in the country’s history.

“Oil theft is down. Inflation has fallen substantially from its peak. Our foreign reserves have been rebuilt.

“Our foreign exchange market has stabilised, and in 2025 this country recorded its highest revenue from non-oil exports in its history, exceeding $6 billion. This is real money being made by real Nigerian businesses,” he said.

The President maintained that the economic changes had attracted positive assessments from international observers and strengthened the country’s economic resilience.

He added that the private sector had responded positively, while foreign direct investment had continued to increase.

According to Tinubu, Nigeria has now moved beyond the period of emergency economic intervention and entered a phase where the focus should shift towards delivering prosperity to citizens.

“The emergency treatment is over. The foundation has been repaired. The central economic task before us has changed. For three years, our overriding purpose was to correct our nation’s course.

“Now, our purpose is simple: shared and widespread prosperity,” he said.

Tinubu explained that prosperity should not be measured solely by economic statistics, but by tangible improvements in the lives of ordinary Nigerians.

He said his vision was for farmers to produce safely and profitably, factories to have reliable electricity, businesses to access credit and young Nigerians to secure productive employment.

He also envisaged a country where food and transportation would be affordable, education accessible and families able to plan for the future with greater confidence.

Reflecting on Nigeria’s 66 years as an independent nation, Tinubu said the country had endured numerous challenges, including civil war, military rule, economic crises, insecurity and political instability.

He, however, praised Nigerians for their resilience and determination to keep the country moving forward.

“Sixty-six years ago today, our flag was raised, for the first time, over a free and sovereign nation. Since then, we have journeyed together as one nation, bound by our collective trust in the great promise of Nigeria,” he said.

The President also acknowledged the contributions of farmers, traders, teachers, entrepreneurs and members of the armed forces and other security agencies to the development and security of the country.

He thanked Nigerians for continuing to believe in the country despite its challenges, saying the hope for a better Nigeria had remained a defining legacy of independence.

Tinubu said the country’s founding fathers fought for more than political independence, stressing that their struggle was also aimed at creating a nation where citizens could enjoy opportunity, dignity and a better standard of living.

“Sixty-six years later, Almighty God has made it our responsibility to deliver that promise.

“Today, as we celebrate our independence, we must speak honestly about the journey so far, the choices we made, and the country we are determined to build from here,” he added.