By Abdullahi Mukhtar Algasgaini
President Bola Ahmed Tinubu has assured Nigerians that the worst of the country’s economic challenges are behind them, saying the nation has “finally turned the corner.”
In a nationwide broadcast on Tuesday to mark Nigeria’s 65th Independence Anniversary, Tinubu admitted that his economic reforms, including the removal of fuel subsidy and the unification of exchange rates, brought temporary hardship.
However, he defended the policies as crucial to saving the country from what he described as a “near-collapsed economy” and “economic chaos.”
“The worst is over, I say. Yesterday’s pains are giving way to relief,” the President declared from the Presidential Villa.
He praised Nigerians for their patience, resilience, and support during the difficult period.
Tinubu used the address to present what he described as his administration’s progress report, outlining 12 key milestones achieved since May 2023.
He cited recent economic growth of 4.23 percent in the second quarter of 2025, the fastest in four years.
Inflation, he said, had eased to 20.12 percent in August, the lowest in three years, while external reserves had climbed to $42.03 billion, the highest since 2019.
Other achievements highlighted include a ₦7.46 trillion trade surplus, improved oil production at 1.68 million barrels per day compared to under one million in 2023, and the stabilisation of the naira, with the gap between official and parallel market rates narrowing significantly.
On security, the President praised the armed forces for “making significant sacrifices to keep us safe,” noting that peace was gradually returning to previously troubled communities in the North-East and North-West.
He also addressed the youth, pointing to programs such as the National Education Loan Fund (NELFUND), which has disbursed ₦99.5 billion, and the YouthCred initiative for corps members.
“We will continue to give you wings to fly sky-high,” he assured.Tinubu called on Nigerians to embrace a culture of production rather than consumption, urging citizens to farm the land, build factories, and support made-in-Nigeria goods.
“Let us be a nation of producers, not just consumers,” he said.
The President closed his address on a hopeful note, expressing confidence in a “new, prosperous, self-reliant Nigeria.”
He declared that with divine guidance, the nation’s brighter future had already begun.