President Bola Ahmed Tinubu, in his 66th Independence Day address to Nigerians on October 1, 2026, outlined his administration’s assessment of the country’s economic reforms and its priorities for the next phase of governance. He said Nigeria had moved beyond the difficult period of economic adjustment and was now entering what he described as an “age of prosperity,” with emphasis on reducing the cost of living, creating jobs, expanding production, strengthening social protection and improving the living standards of Nigerians. Below are the 15 major points of the 66th Independence Day Speech by the president:
- Nigeria has entered an “age of prosperity”
Tinubu declared that the country had moved beyond the difficult phase of economic reforms and was now entering a period focused on shared and widespread prosperity. - The government says the major economic reforms have laid a new foundation
He described the first three years of his administration as a period of correcting Nigeria’s economic course, saying, “The emergency treatment is over. The foundation has been repaired.” - Tinubu defended the removal of economic distortions and subsidies
He argued that previous administrations postponed difficult economic decisions and maintained that his government chose to confront what he described as deep structural weaknesses rather than continue postponing them. - He warned against returning to the old economic system
The President cautioned against abandoning the reforms and returning to policies such as fuel subsidies, arguing that doing so would undermine the progress his administration says has been achieved. - Tinubu cited economic growth as evidence of recovery
He said Nigeria’s economy grew by more than 4 percent in 2026, with both the oil and non-oil sectors contributing to the growth. - He claimed improvements in inflation, foreign exchange and reserves
Tinubu said inflation had fallen from its peak, foreign exchange market conditions had stabilised and Nigeria’s foreign reserves had been rebuilt. - Non-oil exports and foreign investment were highlighted
He said Nigeria recorded more than $6 billion in non-oil exports in 2025 and that foreign direct investment was increasing as economic stability improved. - The next priority is reducing the cost of living
Tinubu said the government’s next task was to make prosperity meaningful to ordinary Nigerians by reducing the costs associated with food, transportation, production and other essential needs. - Agriculture will receive greater attention
He outlined plans involving mechanised farming, irrigation, improved seeds and fertiliser, storage facilities and transportation infrastructure to increase agricultural production. - Infrastructure will connect farms, factories and markets
The President identified roads, railways and ports as important components of the government’s plan to connect agricultural and industrial production with domestic and international markets. - Industrialisation and job creation are central to the prosperity agenda
Tinubu said government would focus on using gas to power industries, reviving factories, expanding digital connectivity, developing skills and improving access to infrastructure and finance. - He acknowledged that many Nigerians are still facing hardship
The President recognised continuing difficulties involving food, school fees, medical expenses and transportation, while arguing that many of these problems predated his administration and reflected decades of structural weaknesses. - Social intervention programmes will continue
Tinubu highlighted programmes including NELFUND for students from low-income families and CREDICORP for consumer credit for items such as vehicles, solar equipment and digital devices. - Government plans to strengthen basic public services and social protection
He said the Federal Government would work with states and local governments on primary healthcare, basic education and other public services, while also emphasising timely payment of salaries and pensions and continued pension reforms. - Tinubu declared that the “age of reform” has given way to prosperity
The President concluded with the message that Nigeria had corrected its economic course and should now focus on abundance, opportunity and improved living standards. He described the next phase as the “age of prosperity” and called for sustained discipline and growth.
