Nigeria at 66: Tinubu Unveils Fresh Push for Lower Costs, Jobs, Prosperity (Full Text)

Nigeria at 66: Tinubu Unveils Fresh Push for Lower Costs, Jobs, Prosperity (Full Text)

President Bola Ahmed Tinubu has declared that Nigeria is entering what he described as an “age of prosperity”, saying the focus of his administration will now shift from economic reforms to lower living costs, job creation, industrial growth and improved living standards.

Tinubu made the declaration in his 66th Independence Day address to Nigerians on Thursday, October 1, 2026, saying his administration had spent the past three years addressing what it regarded as longstanding economic distortions and was now moving towards what he called “shared and widespread prosperity.” (State House)

“The emergency treatment is over. The foundation has been repaired,” the President said, arguing that the country had reached a turning point after a difficult period of economic adjustment.

Tinubu said the next phase would concentrate on translating economic improvements into tangible benefits for Nigerians, particularly by reducing the cost of producing and transporting goods, expanding agricultural production and creating millions of productive opportunities.

According to the President, the government will pursue expanded mechanised irrigation and dry-season farming, improved access to seeds and fertiliser, greater agricultural mechanisation, storage facilities and better transportation infrastructure.

He said investments in roads, railways and ports would also help connect farms and factories to markets and reduce the cost of moving goods across the country.

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Tinubu said the administration’s approach was based on lowering production costs so that savings could eventually be reflected in the prices paid by consumers.

He also placed job creation and industrialisation at the centre of the next phase of his economic programme, saying Nigeria’s large youth population could become an engine of production if provided with the right opportunities, skills, infrastructure and access to finance.

The President said government would use the country’s natural gas resources to support new industries and help businesses revive factories, while expanding digital connectivity and skills development.

“I want to see more Nigerians making things,” Tinubu said, outlining a vision in which Nigerian farms supply cities and factories, local businesses expand their exports and young Nigerians build technology companies and other enterprises.

On social protection, Tinubu acknowledged that millions of Nigerians still face difficulties paying for food, education, healthcare and transportation.

He said government would strengthen support for vulnerable households through the National Social Register, while continuing programmes such as the Nigerian Education Loan Fund (NELFUND) and CREDICORP.

The President also said the Federal Government would continue working with state and local governments to strengthen primary healthcare, basic education and other essential public services.

Tinubu said these interventions were intended to support vulnerable Nigerians while the broader economy expands, rather than serve as a permanent substitute for economic opportunity.

He also defended the administration’s economic reforms, arguing that the measures did not create Nigeria’s longstanding economic weaknesses but were intended to address them.

The President said the Nigerian economy had grown by more than four per cent in 2026, while inflation had fallen from its peak, foreign reserves had been rebuilt and the foreign exchange market had stabilised. He also said oil theft had declined and that Nigeria generated more than $6 billion in non-oil export revenue in 2025, which he described as a record. These figures were presented as part of the administration’s assessment of its economic performance. (State House)

Tinubu acknowledged the hardship associated with the reforms but argued that the government could not reverse in four years problems that had accumulated over several decades.

“We cannot erase in four years what accumulated over generations,” he said, while promising to change the country’s economic direction and steadily reduce poverty.

The President said the administration’s ultimate objective was not merely to manage poverty but to create conditions that would allow more Nigerians to move out of poverty through sustained economic growth and productive employment.

“The age of reform has done its work. Now begins the age of prosperity,” Tinubu declared.

He urged Nigerians to look ahead and support efforts to build what he described as a country of greater abundance and opportunity.

Tinubu concluded his Independence Day speech by calling for national unity and renewed confidence in Nigeria’s future, saying the country had corrected its economic direction and should now move forward without looking back. (State House)

Full Tinubu Independence Day speech

The complete 66th Independence Day address by President Bola Ahmed Tinubu, titled “From Reform to Prosperity,” is available in full on the official State House website. (State House)

Read Tinubu’s full 66th Independence Day address

Nigeria at 66: Tinubu Unveils Fresh Push for Lower Costs, Jobs, Prosperity (Full Text)