President Bola Tinubu declared on Thursday that Nigeria’s economic outlook has significantly improved, citing a growth rate of over four percent in 2026 as proof that his administration’s reform agenda is yielding results.
In his Independence Day address marking the nation’s 66th anniversary, the President asserted that his government’s policies did not create the nation’s economic struggles but were designed to confront deep-seated structural weaknesses.
“When this administration assumed office, we resolved to do things differently. We chose to excise the cancer. The reforms that followed were difficult, and the side effects were real. Yet, we must never confuse the medicine with the disease,” Tinubu stated.
The President defended his administration against critics calling for a return to previous policies, particularly the fuel subsidy regime, describing such demands as a “siren song” that the country must resist.
Highlighting the administration’s progress, Tinubu noted that oil theft is on the decline while inflation has dropped substantially from its peak. He further pointed to the stabilization of the foreign exchange market and the rebuilding of foreign reserves as key indicators of economic recovery.
“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,” the President said.
Tinubu emphasized that these improvements are verified by external stakeholders, including international observers, NGOs, and multilateral institutions. He added that the private sector’s confidence in the economy is reflected in the steady rise of foreign direct investment.
“These are not idle claims. Each [observer] has concluded that our reforms have strengthened Nigeria’s economic stability and resilience,” he concluded.
