Tinubu declares “the worst is over” as Nigeria marks 65th independence
President Bola Tinubu, in his address marking Nigeria’s 65th Independence anniversary, declared that the worst is over and said the nation has at last turned an economic corner.
He reminded citizens of the financial difficulties left behind by previous administrations, asserting that his government inherited a near-collapsed economy.
During the speech, he acknowledged that sacrifices had been painful for many Nigerians, but emphasised that reforms now show signs of yielding positive outcomes.
READ ALSO: Tinubu’s 65th Independence Day address to Nigerians
Tinubu cited data indicating that Nigeria’s second-quarter GDP growth reached 4.23 per cent, the fastest in four years, and pointed out that inflation has declined to 20.12 per cent.
He also pointed to a five-quarter run of trade surpluses, an increase in external reserves to $42.03 billion, the highest since 2019, and a rebound in oil production.
As part of relief to vulnerable groups, Tinubu said the government had disbursed ₦330 billion to eight million households under its social investment scheme.
He described the fiscal reforms, abolishing fuel subsidies and unifying foreign exchange rates, as difficult but necessary steps to recalibrate the economy.
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Tinubu reiterated that the administration would continue investing in infrastructure: roads, rail, ports, and energy systems to support broader economic growth.
He also stated that federal, state and local governments now have more resources to fulfil their development responsibilities to citizens.
While admitting that inflation and cost of living remain challenges, he pledged that these issues would be addressed through further policy actions.
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