In a bold declaration during Nigeria's 66th Independence Day celebration, President Bola Tinubu proclaimed that the nation has transitioned from a challenging phase of economic reforms to an "age of prosperity." This shift emphasizes the government's commitment to lowering the cost of living, creating jobs, and expanding economic opportunities.
Tinubu's address, themed “From Reforms to Prosperity,” highlighted the administration's assessment of past reforms and outlined future economic plans. He stated that after three years of necessary but painful reforms, the focus has now shifted towards achieving shared prosperity for all Nigerians.
Among the key points, Tinubu noted significant improvements in Nigeria's economic outlook, including a growth rate exceeding 4% in 2026, reduced inflation, and enhanced foreign reserves. He emphasized the importance of continuing these reforms to avoid reverting to "addictive subsidies" that have historically hindered progress.
Looking ahead, Tinubu identified lowering production and transportation costs as a priority to alleviate the financial burden on citizens. He plans to invest in agriculture, infrastructure, and skills development to foster job creation and industrial growth, aiming to empower Nigerians to produce and sell goods both locally and internationally.
While acknowledging ongoing hardships faced by many Nigerians, Tinubu expressed optimism about changing the course of the economy, asserting that the government would strengthen support for the most vulnerable households as part of its broader economic strategy.