President Bola Ahmed Tinubu has declared that his administration is laying a durable economic foundation to secure Nigeria’s future.
On Tuesday, during Nigeria’s Independence Day anniversary address, Tinubu spoke on the state of the economy he inherited, noting, “I inherited a near-collapsed economy caused by decades of fiscal policy distortions and misalignment that had impaired real growth.”
He highlighted improvements under his government, including the strengthening of the nation’s currency and historic growth in the capital market.
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Tinubu further noted a revival in coal mining and the expansion of non-oil trade, which now accounts for 48 percent of Nigeria’s exports.
Tinubu also disclosed that Nigeria’s foreign reserves climbed to $42.03 billion in September 2025, while N330 billion had been released to assist eight million households through the social investment programme.
He emphasised, “The alternative of allowing our country to descend into economic chaos or bankruptcy was not an option.”
The president further stressed that the success of his administration would be measured beyond economic indices.
“The accurate measure of our success will not be limited to economic statistics alone, but rather in the food on our families’ tables, the quality of education our children receive, the electricity in our homes, and the security in our communities,” he said.
He also highlighted the benefits of federal allocations to states and local governments, noting that they now have more resources to address development challenges.
Tinubu urged Nigerians to embrace productivity and innovation, charging citizens to “turn on the taps of productivity, innovation, and enterprise.”
He concluded by reaffirming his administration’s commitment to ensuring that economic stability and resources are channeled into critical areas that improve the lives of ordinary Nigerians.
