President Bola Tinubu declared on Thursday that Nigeria has successfully navigated its “Red Sea” following years of challenging economic reforms, urging citizens to focus on the future rather than reverting to past policies.
In his Independence Day address marking the nation’s 66th anniversary, the President stated that his administration had taken difficult steps to address “deep-rooted economic weaknesses” and that the country is now entering a new phase of prosperity.
“Nigeria has corrected its course. We have passed through our own Red Sea. This is not the time to look back,” Tinubu said.
He noted that the government’s immediate priority has shifted from economic stabilization to improving living conditions by lowering production costs, fostering job creation, and expanding economic opportunities.
“The age of reform has done its work. Now begins the age of prosperity,” the President added.
Tinubu outlined a policy roadmap for the next phase, emphasizing the need to make food and transportation more affordable while providing robust support to farmers, manufacturers, and small businesses. He promised an expansion of mechanized farming, irrigation, and storage, alongside the continued development of transport infrastructure—roads, railways, and ports—to better connect producers to markets.
According to the President, reducing production and transportation costs is essential to lowering consumer prices. He also emphasized the necessity of creating productive opportunities for Nigeria’s growing youth population through support for industry, improved digital connectivity, and better access to skills and finance.
“I want to see more Nigerians making things. I want to see more Nigerian farms feeding our cities and supplying our factories. I want to see Nigerian businesses selling Nigerian goods to the whole world,” he said.
Acknowledging that millions of Nigerians continue to struggle with the rising costs of food, education, and healthcare, the President argued that these hardships are the result of decades of low productivity and inadequate infrastructure, rather than recent policy choices.
“We cannot erase in four years what accumulated over generations, but we can change its course,” he stated.
Tinubu pledged to continue strengthening social support programs, education financing, and healthcare, though he emphasized that these measures are intended to foster economic independence rather than act as permanent substitutes for genuine prosperity.
“Our objective is not to manage poverty more efficiently; we will defeat it,” he asserted.
The President also cautioned against calls to reverse his administration’s reforms—specifically the removal of fuel subsidies—warning that Nigeria must not return to “addictive subsidies.”
He defended the government’s track record by citing positive economic indicators, including a growth rate of over four percent this year, a downward trend in inflation, rebuilt foreign reserves, and greater stability in the foreign exchange market. He further pointed to over $6 billion in non-oil export earnings recorded in 2025 as evidence of revitalized economic activity.
Concluding his address, the President urged Nigerians to remain optimistic, describing the path ahead as a “Promised Land” of abundance.
“Our destination is in sight. Our foundations are strong. Our direction is clear. So let us go forward. No looking back,” he said.
