Nigeria Has Passed Through Its Own Red Sea; Prosperity is Next — President Tinubu

The Observer
14 Min Read

 

FULL TEXT OF THE 66TH INDEPENDENCE DAY ADDRESS BY PRESIDENT BOLA AHMED TINUBU

THEME: FROM REFORMS TO PROSPERITY

My fellow Nigerians,

Sixty-six years ago today, our flag was raised for the first time over a free and sovereign nation. Since then, we have journeyed together as one people, bound by our collective trust in the great promise of Nigeria: that a country of our size, our bountiful resources, our cultural diversity, and, above all, our extraordinary people, can build a giant in Africa. We believe that in this blessed and fertile land, we can build a united, strong, and prosperous nation—a land of regional authority and global consequence.

Our journey has not always been easy. In truth, it has generally been too hard for too many. We have known moments of great hope and periods of profound disappointment. We have endured war, military rule, economic crises, insecurity, and political upheaval. Yet through it all, Nigeria, sustained by the indomitable spirit of its people, has endured.

It has endured through the efforts of the farmer who rises before dawn to work his land; the trader who opens her shop each morning, hopeful for a productive day; the teacher who believes in the children entrusted to her care; and the young entrepreneur who refuses to surrender ambition to circumstance. We are forever grateful to the men and women of our Armed Forces and security services who place themselves in harm’s way so that the rest of us may live in peace.

Through every difficulty, generations of Nigerians have continued to believe in one thing: that this country of ours will be better.

This faith, which sustains us all, is the inheritance of independence. Our founding fathers did not struggle merely for a flag, an anthem, or a place among the nations of the world. Independence carried a larger promise: that Nigerians would have the freedom to shape their own destiny and build a nation capable of providing opportunity, dignity, and a better life for its people. Sixty-six years later, Almighty God has made it our responsibility to deliver that promise.

Today, as we celebrate our independence, we must speak honestly about the journey so far, the choices we have made, and the country we are determined to build from here.

For too long, the promise of Nigeria was undermined by choices that postponed difficult decisions and allowed deep economic distortions to grow. By 2023, poverty was rising, and hope was nearly gone. The country’s situation was darker than ever. We had no choice but to act.

Nigeria was like a sick patient who receives the terrible news that he has cancer. His doctor explains that the treatment will be difficult and painful, but that it offers a strong prospect of recovery. The patient has a choice: he can begin treatment, endure its discomfort, and fight the disease—or he can ask only for morphine, dull the pain, and leave the cancer to spread.

For too long, Nigeria’s leaders chose morphine while praying for a miracle that never came.

They focused on symptoms while allowing the disease to take hold deep within the fabric of our society. We spent enormous sums sustaining inefficient arrangements that were never intended to last. We hid from difficult truths and passed the consequences from one generation to the next.

When this administration assumed office, we resolved to do things differently. We chose to excise the cancer. The reforms that followed were difficult. The side effects were real. Yet, we must never confuse the medicine with the disease.

Our reforms did not create the weaknesses in our economy; they confronted them. Now, as certain influential but regressive voices would have us abandon the treatment and return to the abuse of addictive subsidies, we must resist their siren song. We must remember why we began this journey and how far we have already come.

Three and a half years later, the evidence that Nigeria’s economic outlook has improved is undeniable. Our economy has grown by over 4 percent this year. Both oil and non-oil sectors have contributed to this renewed period of stable growth.

Oil theft is down. Inflation has fallen substantially from its peak. Our foreign reserves have been rebuilt, our foreign exchange market has stabilized, and in 2025, this country recorded its highest revenue from non-oil exports in its history—exceeding $6 billion. This is real money being made by real Nigerian businesses.

These are not idle claims. International observers, journalists, NGOs, and multilateral institutions can see the change. Each has concluded that our reforms have strengthened Nigeria’s economic stability and resilience. The private sector has long since delivered its verdict, and foreign direct investment continues to rise each year.

**My fellow Nigerians, we have reached a turning point.**

The emergency treatment is over. The foundation has been repaired. The central economic task before us has changed. For three years, our overriding purpose was to correct our nation’s course. Now, our purpose is simple: shared and widespread prosperity.

When I speak of prosperity, I do not speak merely of a larger economy, abstract numbers, or better statistics. I mean something much more personal.

I mean a Nigeria in which the farmer can cultivate his land safely, produce more at a lower cost, and earn a decent return for his labor. I mean a Nigeria in which factories have reliable power, businesses can obtain credit, and young people can find productive work. I mean a Nigeria in which food and transportation are affordable, education is within reach, and hardworking families can look toward the future with confidence.

This is the promise we must now fulfill.

Our priority is to bring down the cost of living. We will achieve this by lowering the cost of producing and moving the things Nigerians consume. We have the land and the people to feed ourselves. My government is, therefore, focused on expanding mechanized irrigation and dry-season farming, improving access to seeds and fertilizer, and investing in storage and transportation. We are building and completing the roads, railways, and ports that connect farms and factories to markets.

Our logic is simple: When a farmer produces more cheaply, when fewer crops are lost between the farm and the market, when a manufacturer spends less on electricity, and when a truck reaches its destination faster, those savings will ultimately find their way into the price of goods in the market.

But prosperity requires more than cheaper goods. It requires productive work.

Nigeria is a young country. Millions of young Nigerians enter adulthood every year with talent, energy, and ambition. Our responsibility is to ensure that this great demographic strength becomes an engine of production rather than a source of despair. We are, therefore, placing jobs, enterprise, and industrial growth at the heart of our policies.

We will use our gas to power new industries. We will support businesses that work to bring factories back to life in our industrial centers. We will expand digital connectivity into communities that have waited too long to participate in the modern economy. We will invest in the skills employers demand and support Nigerian businesses with the infrastructure and finance they need to grow.

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. I want young Nigerians building “unicorns” and creating opportunities for others here at home.

I am also conscious that millions of our fellow citizens cannot wait for tomorrow. Some families still struggle today for the next meal, the next school fee, the next medical bill, or simply enough money for transportation. Their circumstances did not begin with the reforms of the last three years. Their struggle is the accumulated consequence of decades of low productivity, inadequate infrastructure, and institutions that too often failed those who needed them most.

We cannot erase in four years what accumulated over generations, but we can change its course. We can build an economy that steadily lifts people out of poverty while ensuring that the vulnerable are not abandoned.

That is why we are strengthening direct support for the poorest households and improving the National Social Register. It is why the Nigerian Education Loan Fund (NELFUND) is ensuring that the child of a low-income family need not surrender the dream of higher education. It is why CREDICORP is giving working Nigerians access to consumer credit for vehicles, solar systems, and other essential assets.

Working with our states and local governments, we will continue to strengthen primary healthcare and basic education. Since 2023, we have paid salaries and pensions on time and in full, and we have reformed the national pension program to benefit retirees.

These programs are not substitutes for prosperity; they are a bridge to aid our citizens on their path toward it. Our objective is not to manage poverty more efficiently; we will defeat it.

It will take time. It will require discipline. It will require sustained growth and the creation of millions of productive opportunities. But for the first time in decades, we embark on this task from a position of strength, with an economy whose fundamental direction has been corrected.

The age of reform has done its work. Now begins the age of prosperity—an age in which the promise of this great nation must finally become the lived experience of Nigerians from all walks of life.

We have traveled through difficult years together. We have made hard decisions together. And now, still together, we must build the country those decisions have made possible. I believe deeply in what lies ahead. I believe in the millions of ordinary men and women whose courage and determination have always been the true strength of our country.

Nigeria has corrected its course. We have passed through our own Red Sea. This is not the time to look back. Let us go forward together, with faith in ourselves, faith in our country, and faith that the sacrifices we have made will yield their reward.

The Promised Land before us is a Nigeria of abundance and opportunity—a nation where prosperity is broadly shared, where every child can dream beyond the circumstances of their birth, and where our country’s immense promise is finally reflected in the lives of our people.

Our destination is in sight. Our foundations are strong. Our direction is clear. So, let us go forward. No looking back.

Happy Independence Day, my fellow Nigerians. God bless you all, and God bless the Federal Republic of Nigeria.

**Bola Ahmed Tinubu, GCFR**
President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria

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