President Bola Ahmed Tinubu has said his administration cannot erase in four years the hardship and economic challenges that accumulated in Nigeria over generations, but can change the country’s economic direction.
Tinubu stated this in his Independence Day address to Nigerians on Thursday, marking Nigeria’s 66th anniversary of independence.
The president acknowledged that millions of Nigerians are still struggling with the cost of food, education, healthcare and transportation, but said the difficulties did not begin with his administration’s economic reforms.
According to him, the hardship confronting Nigerians is the accumulated consequence of decades of low productivity, inadequate infrastructure, limited opportunities and institutions that failed to adequately serve citizens.
“We cannot erase in four years what accumulated over generations. But we can change its course,” Tinubu said.
He said the government’s objective was to build an economy capable of steadily lifting people out of poverty while ensuring that vulnerable Nigerians were not abandoned.
Tinubu said his administration was strengthening direct support for the poorest households and improving the National Social Register to ensure that assistance reached those who genuinely needed it.
He also highlighted the Nigerian Education Loan Fund, saying it would help ensure that children from low-income families could pursue higher education despite their parents’ inability to afford tuition.
The president further said the Consumer Credit Corporation (CREDICORP) was providing working Nigerians with access to credit to acquire essential assets, including vehicles, solar systems and digital devices.
On the wider economy, Tinubu said his administration had spent the first three years correcting the country’s economic direction through reforms which he acknowledged had been difficult.
He said the economy had grown by more than four per cent in 2026, while inflation had fallen substantially from its peak. He also said foreign reserves had been rebuilt, the foreign exchange market had stabilised and Nigeria recorded more than $6 billion in non-oil export revenue in 2025.
Tinubu said the government had now moved from correcting the country’s economic course to pursuing “shared and widespread prosperity”.
He said reducing the cost of living would remain a priority, with the government focusing on lowering the cost of producing and transporting goods through investments in agriculture, infrastructure, roads, railways and ports.
The president also said job creation, enterprise and industrial growth would remain central to the government’s agenda, with plans to use gas to power industries, revive factories, expand digital connectivity and improve access to skills and finance.
Tinubu said the government’s ultimate goal was to create an economy where Nigerians could produce more, earn better incomes and access affordable goods and essential services.
“The age of reform has done its work. Now begins the age of prosperity,” he said.
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