FIC REPORT (LAGOS STATE) – In a decisive, milestone nationwide broadcast marking the 66th Independence Anniversary of the Federal Republic of Nigeria, President Bola Ahmed Tinubu declared that the nation has successfully weathered its most grueling economic storm and entered a definitive new operational phase.
Speaking under the national anniversary theme, “From Reforms to Prosperity,” the President asserted that three and a half years of aggressive structural adjustments have repaired the country’s damaged economic foundations, enabling the administration to shift its principal focus from emergency stabilization to widespread economic growth, aggressive job creation, and a drastic reduction in the national cost of living.
Tracing Nigeria’s 66-year journey since gaining sovereignty in 1960, President Tinubu acknowledged the resilience of citizens across all walks of life—from farmers, traders, and young entrepreneurs to members of the armed forces—who have sustained the nation through military governance, civil conflict, structural shocks, and socio-economic stress.
He noted that while independence bequeathed the right to self-determination, long-standing economic distortions, growing public debt, and deferred critical decisions had brought the nation to a critical crossroads by 2023, where poverty was accelerating and systemic collapse loomed.
Directly addressing the severe public discomfort experienced during the implementation of key fiscal policies—such as the removal of fuel subsidies and foreign exchange unification—President Tinubu likened the country’s situation in 2023 to a critical patient requiring life-saving surgery. He argued that past leaderships relied on temporary, addictive relief measures like untargeted subsidies, which dulled immediate economic pain while allowing underlying structural deficits to deteriorate. Emphasizing that his administration chose structural treatment over temporary relief, he affirmed that while the medicine was harsh, the fundamental weaknesses of the economy have finally been confronted rather than passed on to future generations.
Presenting macro-economic indicators to validate the turnaround, the President disclosed that Nigeria’s gross domestic product expanded by over 4 percent this year, driven by steady gains across both oil and non-oil sectors. He pointed to significant declines in oil theft, a substantial reduction in headline inflation from its historical peak, rebuilt foreign currency reserves, a stabilized foreign exchange ecosystem, and record-setting non-oil export earnings exceeding $6 billion in 2025.
The President emphasized that these statistical improvements reflect real-world capital accumulation by local businesses and are backed by global multilateral institutions and rising foreign direct investment.
Announcing the transition into what he termed “The Age of Prosperity,” President Tinubu outlined concrete economic interventions aimed at driving down market prices. Central to this strategy is an aggressive campaign to lower agricultural production and logistics costs by expanding mechanized irrigation, dry-season farming, and access to modern farming inputs, while completing strategic road, rail, and port networks connecting agrarian hubs to urban markets.
Additionally, the administration plans to leverage domestic natural gas resources to power major industrial hubs, expand nationwide digital infrastructure, and restore manufacturing capability to generate large-scale employment for Nigeria’s youth.
To protect vulnerable populations as these productivity measures take root, the President reaffirmed the expansion of state social safety nets, including direct cash support through the refined National Social Register, tertiary education funding via the Nigerian Education Loan Fund (NELFUND), and accessible asset financing through CREDICORP.
Concluding his address with a call for national solidarity, President Tinubu declared that Nigeria has crossed its own Red Sea, urging all citizens to look forward with renewed confidence as the administration works to translate macro-economic gains into tangible, broad-based abundance for every household across the federation.
This report was compiled in Lagos from Mr President broadcast to the nation a while ago by:
IYEDEH Onowouzou David
ACIO/PRO
01/10/2026
