President Bola Tinubu declared that Nigeria has “finally turned the corner” and that the worst of the economic hardship is over, during his national broadcast on Wednesday to mark the country’s 65th Independence Anniversary .

In a speech that struck a tone of resilient optimism, the President defended his administration’s tough economic reforms, citing emerging positive data, while also acknowledging the “temporary pains” experienced by citizens .

A Nation on the Path to Recovery

President Tinubu stated that the seeds of the “difficult but necessary decisions” made by his administration are now bearing fruit less than three years later . He pointed to key economic indicators showing progress:

· GDP Growth: The economy grew by 4.23% in the second quarter of 2025, its fastest pace in four years and outpacing International Monetary Fund projections .
· Falling Inflation: Inflation has declined to 20.12% in August 2025, the lowest level in three years .
· Stable Currency: The Naira has stabilised, with the gap between the official and unofficial market rates substantially reduced .

“The worst is over, I say. Yesterday’s pains are giving way to relief,” the President asserted, saluting the endurance of Nigerians .

Defending Bold Reforms

The President reflected that upon assuming office, his administration inherited a “near-collapsed economy” . He framed the choice his government faced as one between continuing “business as usual” or embarking on a “courageous, fundamental reform path” .

He justified the removal of the controversial fuel subsidy and the unification of foreign exchange rates as pivotal moves that dismantled a “rentier economy” which benefited only a tiny minority . According to the President, these actions have freed up trillions of Naira, which are now being redirected to fund education, healthcare, infrastructure, and social investment programmes .

Key Economic Milestones Highlighted

President Tinubu listed twelve remarkable economic milestones achieved in the last two years. The key highlights include :

· A record-breaking increase in non-oil revenue, with over N20 trillion raised by August 2025.
· A significant reduction in the debt service-to-revenue ratio from 97% to below 50%.
· A rise in external reserves to $42.03 billion, the highest since 2019.
· Nigeria becoming a net exporter, recording a trade surplus for five consecutive quarters.
· A rebound in oil production to 1.68 million barrels per day.
· A boom in the stock market, with the all-share index soaring from 55,000 points in May 2023 to 142,000 points as of September 26, 2025.

Security, Youth, and a Call to Action

On security, the President commended the armed forces for “winning the war against terrorism, banditry and other violent crimes,” stating that peace has returned to hundreds of liberated communities .

Addressing the youth, he highlighted several support initiatives, including NELFUND, through which N99.5 billion in student loans has been disbursed to about 510,000 students . He also mentioned the Credicorp and YouthCred programmes designed to provide affordable consumer credit .

The President concluded with a message of hope and a call for collective action, urging Nigerians to be “a nation of producers, not just consumers” and to patronise ‘Made-in-Nigeria’ goods .