Nigeria @66: Tinubu Declares End of Reform Era, Says Prosperity Is Next
President Bola Ahmed Tinubu has declared that Nigeria has moved beyond the difficult phase of economic reforms, saying the country is now entering what he described as an “age of prosperity.”
Tinubu made the declaration in his Independence Day address to Nigerians on Wednesday, October 1, 2026, with the theme, “From Reforms to Prosperity,” as Nigeria marked 66 years of independence.
According to Tinubu, his administration inherited an economy burdened by longstanding distortions and chose to confront them through reforms despite the hardship associated with the process. He compared the situation to a cancer patient who must endure difficult treatment to overcome the disease.
He said the reforms did not create Nigeria’s economic weaknesses but were introduced to address problems that had accumulated over several decades. Tinubu added that his administration rejected the option of maintaining arrangements that, in his words, had only postponed difficult decisions.
The president said the reforms had produced signs of economic recovery, citing growth of more than four per cent this year, lower inflation from its peak, rebuilt foreign reserves and greater stability in the foreign exchange market.
Tinubu also said oil theft had declined while Nigeria recorded more than $6 billion in non-oil export revenue in 2025, which he described as the country’s highest ever. He further said foreign direct investment had continued to rise.
He acknowledged that the reforms had brought real hardship to Nigerians but argued that the difficulties should not be mistaken for the underlying problems the reforms were intended to address. He said the government must now shift its attention from correcting the economy to spreading prosperity.
According to him, the next phase will focus on lowering the cost of living by increasing agricultural production, improving transportation and storage, expanding infrastructure and reducing the cost of doing business.
“The age of reform has done its work. Now begins the age of prosperity,” Tinubu said, adding that the objective was to build an economy in which farmers, manufacturers, workers and businesses could earn better returns from their activities.
He said Nigeria had “corrected its course” and passed through its own “Red Sea,” urging Nigerians to look forward rather than backward as his administration pursues what he described as a future of broader prosperity and opportunity.
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