Tinubu Hails Economic Recovery at 65

Tinubu Hails Economic Recovery at 65

By Abiola Adigun
Albarka 89.9 FM

President Bola Ahmed Tinubu on has marked Nigeria’s 65th Independence anniversary with a message of hope and renewal, declaring that his administration’s tough economic reforms have begun to yield results and that the country is on the path to sustainable growth.
In a nationwide broadcast, Tinubu acknowledged the sacrifices Nigerians have made since his government ended fuel subsidies and unified the foreign exchange system, but said the “worst is over” and the economy has started to rebound.
“Our economy is recovering fast, and the reforms we started over two years ago are delivering tangible results. Yesterday’s pains are giving way to relief,” he said.
Tinubu highlighted major gains achieved in the past two years, including a second-quarter GDP growth of 4.23% – the fastest in four years – and inflation falling to 20.12%, its lowest in three years. He also announced that external reserves had risen to $42.03 billion, while Nigeria recorded a trade surplus for five consecutive quarters.
Other achievements include:
Record non-oil revenue of over ₦20 trillion by August 2025.
Reduced debt service-to-revenue ratio from 97% to below 50%.
Oil production recovery to 1.68 million barrels per day.
Naira stabilisation after turbulent exchange rate fluctuations in 2023 and 2024.
₦330 billion disbursed to eight million poor households under social investment programmes.
“The multiple exchange rates, which fostered corruption and arbitrage, are now part of history,” Tinubu said, adding that the gains were creating jobs, boosting exports, and strengthening the currency.
On security, the President praised the armed forces for “winning the war against terrorism, banditry and other violent crimes,” noting that peace had returned to many communities in the North-East and North-West.
He also rolled out measures targeted at young Nigerians, including student loan schemes, affordable credit facilities, and investments in digital and creative enterprises. “You are the future and the greatest assets of this blessed country,” he told the youth.
Nigeria gained Independence from Britain on October 1, 1960, with founding leaders such as Nnamdi Azikiwe, Ahmadu Bello, Obafemi Awolowo and Tafawa Balewa envisioning a united, prosperous nation leading Africa. Six and a half decades later, the country has endured civil war, military rule, and repeated economic crises.
Tinubu, who came to power in May 2023, inherited a troubled economy marked by ballooning debt, subsidy costs, and foreign exchange distortions. His administration moved quickly to abolish the decades-long fuel subsidy and unify exchange rates—reforms widely described as painful but necessary.
In his broadcast, the President urged Nigerians to “farm our land, build factories, and patronise Made-in-Nigeria goods,” stressing that true progress would come from productivity and innovation at all levels of government and society.
“With Almighty God on our side, I can assure you that the dawn of a new, prosperous, self-reliant Nigeria is here,” he said.