PRESIDENT TINUBU SAYS NIGERIA WORST IS OVER

President Bola Tinubu has assured Nigerians that the country’s economy is on the path of recovery, declaring that “the worst is over” as the effects of his administration’s economic reforms begin to yield results.

In his 65th Independence Day broadcast on Wednesday, the President said tough but necessary decisions taken since May 2023, including the removal of fuel subsidy and unification of foreign exchange rates—had restored fiscal stability and positioned Nigeria for sustainable growth.

“I am pleased to report that we have finally turned the corner. The worst is over, I say. Yesterday’s pains are giving way to relief,” Tinubu stated.

According to him, Nigeria’s Gross Domestic Product grew by 4.23% in the second quarter of 2025—its fastest pace in four years, while inflation dropped to 20.12% in August, the lowest in three years. He also revealed that external reserves had risen to $42.03 billion, the highest since 2019, and that the country recorded five consecutive quarters of trade surplus, signalling diversification of the economy beyond oil.

The President noted that Nigeria had achieved a record increase in non-oil revenue, raising over ₦20 trillion by August 2025, while debt service-to-revenue ratio had been reduced from 97% to below 50%.

On social investment, Tinubu said ₦330 billion had been disbursed to eight million households, while over half a million students had accessed educational loans under the Nigeria Education Loan Fund.

He added that agriculture and solid minerals were witnessing renewed growth, with coal mining expanding by 57.5% in the second quarter of 2025.

Speaking on security, the President said troops were winning the fight against terrorism and violent crimes, with peace returning to several previously troubled communities in the North-East and North-West.

Addressing the youth, Tinubu urged them to “dream big, innovate, and conquer new territories,” promising continued government support through credit schemes and enterprise initiatives.

While acknowledging that Nigerians had endured hardship from reforms, the President insisted the sacrifices were not in vain:

“The accurate measure of our success will not be in statistics alone but in the food on our families’ tables, the electricity in our homes, the quality of education for our children, and the security in our communities.”

While acknowledging that Nigerians had endured hardship from reforms, the President insisted the sacrifices were not in vain and assured that the “federal government will continue to do its part to fix the plumbing in the economy.”

He added that “Let us be a nation of producers, not just consumers. Let us patronise Made-in-Nigeria goods. With Almighty God on our side, the dawn of a new, prosperous, self-reliant Nigeria is here.”

Reported by Bright Okpo