Tinubu: Economic outlook has improved, reforms have laid foundation for prosperity
By: Zagazola Makama
President Bola Ahmed Tinubu has said Nigeria’s economic outlook has improved significantly, citing stronger growth, rebuilt foreign reserves, lower oil theft and increased non-oil exports as evidence that the country’s economic reforms are beginning to yield results.
Tinubu stated this in his Independence Day address to Nigerians, where he reviewed the country’s economic challenges and outlined his administration’s plans for the next phase of development.
The President said Nigeria’s economic situation had deteriorated significantly before his administration took office in 2023, leaving the government with difficult choices.
He said the reforms introduced by his administration were designed to address structural weaknesses rather than merely manage their symptoms.
“Our reforms did not create the weaknesses in our economy. They confronted them,” Tinubu said.
According to him, Nigeria’s economy has grown by more than four per cent in the year, with contributions from both the oil and non-oil sectors.
He said oil theft had declined, inflation had fallen substantially from its peak, foreign reserves had been rebuilt and the foreign exchange market had stabilised.
Tinubu also highlighted Nigeria’s non-oil export performance, saying the country recorded more than six billion dollars in non-oil export revenue in 2025.
“These are not idle claims. International observers, journalists, NGOs and multilateral institutions can see the change,” he said.
The President said the private sector had also responded positively, while foreign direct investment continued to rise.
He, however, acknowledged that economic indicators alone would not be sufficient if ordinary Nigerians did not experience improvements in their daily lives.
Tinubu said prosperity should mean safer and more productive farming, reliable electricity for factories, access to credit for businesses, productive employment for young people and more affordable food, transportation and education.
He said the government would therefore focus on increasing productivity across agriculture and industry while improving infrastructure connecting producers to consumers.
Tinubu also acknowledged the continued hardship faced by millions of Nigerians, particularly those struggling to meet the costs of food, education, healthcare and transportation.
He said the government would continue strengthening social protection and essential public services while pursuing long-term economic growth.
The President said Nigeria could not eliminate in four years the economic difficulties accumulated over generations, but insisted that the country could change its direction.
“For the first time in decades, we embark on this task from a position of strength; with an economy whose fundamental direction has been corrected,” he said.
Tinubu described the period ahead as an “age of prosperity,” following what he called the “age of reform.”
He urged Nigerians to maintain faith in the country and work collectively towards building an economy where prosperity is broadly shared.
“Our destination is in sight. Our foundations are strong. Our direction is clear. So let us go forward. No looking back,” he said.
