For too long, past leaders postponed difficult decisions, Tinubu declares

MaTaZ ArIsInG
Dallas, Texas

. Says his administration has stabilised economy • Assures Nigerians of shared prosperity

PRESIDENT Bola Tinubu has again justified his firm resolve to continue with his bold economic reforms, which he acknowledged are tough on Nigerians, but necessary.

Tinubu made the remarks in his 66th Independence Anniversary nationwide broadcast titled ‘From Reform to Prosperity’.

On the inception of his administration on May 29,2023, President Tinubu had scrapped the fuel subsidy regime and equally removed the multiple foreign exchange rates.

Tinubu declared that previous administrations before him deliberately avoided tough economic decisions, necessary to retrieve the nation from the path of economic regression to enduring growth.

He likened the nation’s economic predicament to an individual suffering from cancer but administered with morphine to mitigate the pains while the cancer spreads.

He said: “For too long, the promise of Nigeria was undermined by choices that postponed difficult decisions and allowed deep economic distortions to grow.

“By 2023, poverty was rising, and hope was nearly gone. The country’s situation was darker than ever. We had no choice but to act.

“Nigeria was like a sick patient who receives the terrible news that he has cancer. His doctor explains that the treatment will be difficult and painful, but that it offers a strong prospect of recovery. The patient has a choice. He can begin treatment, endure its discomfort and fight the disease. Or he can ask only for morphine, dull the pain and leave the cancer to spread.

“For too long, Nigeria’s leaders chose morphine while praying for a miracle that never came.

“They focused on symptoms while allowing the disease to take hold deep within the fabric of our society. We spent enormous sums sustaining inefficient arrangements that were never intended to last. We hid from difficult truths and passed the consequences from one generation to the next.

“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.”

Listing the gains of his reforms three years after, President Tinubu cautioned Nigerians, particularly those who will cast the ballots in the forthcoming general elections, not to be swayed by the rhetoric of certain presidential candidates who have vowed to tamper with his ongoing policy reforms.

He enumerated the gains to include growth in oil and non-oil sectors, soaring external reserves, reduction in inflation and a surge in Foreign Direct Investments.

An excited Tinubu noted that the appreciable growth in the economy had earned the acclamation of non-governmental organisations (NGOs) and multilateral financial institutions.

He said: “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.

“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.

“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.

“These are not idle claims. International observers, journalists, NGOs and multilateral institutions can see the change. Each has concluded that our reforms have strengthened Nigeria’s economic stability and resilience. The private sector has long since delivered its verdict, and foreign direct investment continues to rise each year.”

While stressing the success story of the economy under his watch which he attributed to needed structural reforms, President Tinubu declared that Nigerian economy has “reached a turning point” on the course to what he later described as the phase of  “shared and widespread prosperity”.

He declared that under his leadership the peasant would be guaranteed access to land and earn a decent living; factories will have seamless access to stable electricity; transportation will be affordable while education will be within the reach of the indigent.

Aside from the cost of living, President Tinubu acknowledged the need to engage multitudes of Nigerian youths, whom he described as the engine of production.

This, he noted, can be achieved through placing jobs, enterprise, and industrial growth at the heart of our government’s policies.

Giving a list of his initiatives, such as NELFUND, CREDICORP, amongst others, to sustain the vulnerable, he admitted that “these programmes are not substitutes for prosperity. They are a bridge to aid our nation’s citizens on their path towards it. Our objective is not to manage poverty more efficiently.”

President Tinubu vowed that the phase of shared prosperity would not be derailed.

“The age of reform has done its work. Now begins the age of prosperity. An age in which the promise of this great nation must finally become the lived experience of Nigerians from all walks of life.

“We have travelled through difficult years together. We have made hard decisions together. And now, still together, we must build the country those decisions have made possible.

“I believe deeply in what lies ahead. I believe in the millions of ordinary men and women whose work, courage and determination have always been the true strength of our country.

“The road ahead will still demand much from us. But we travel it now with firm footing, a clear direction and renewed hope in our collective future.

“Nigeria has corrected its course. We have passed through our own Red Sea. This is not the time to look back. Let us go forward together, with faith in ourselves, faith in our country, and faith that the sacrifices we have made will yield their reward.

“The Promised Land before us is a Nigeria of abundance and opportunity; a nation where prosperity is broadly shared, where every child can dream beyond the circumstances of his birth, and where our country’s immense promise is finally reflected in the lives of our people.

“Our destination is in sight. Our foundations are strong. Our direction is clear. So let us go forward. No looking back.”

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