Fellow Nigerians,
Today, we commemorate the 65th anniversary of our great nation’s Independence. As we reflect on this significant milestone and our journey as a nation since October 1, 1960, when our founding fathers took the bold step of accepting the instruments of self-government from colonial rule, let us honor their sacrifice, dedication, and grand vision of a strong, prosperous, and united Nigeria destined to lead Africa and serve as a beacon of hope for the world.
Our founding heroes and heroines Herbert Macaulay, Dr. Nnamdi Azikiwe, Sir Abubakar Tafawa Balewa, Chief Obafemi Awolowo, Sir Ahmadu Bello, Margaret Ekpo, Anthony Enahoro, Ladoke Akintola, Michael Okpara, Aminu Kano, Funmilayo Ransome-Kuti, and other nationalists firmly believed that Nigeria, as the largest black nation on earth, was destined to lead the entire black race.
Over the decades, the promise of our Independence has been tested by profound social, economic, and political challenges, yet we have persevered. While we may not have fully realized the lofty dreams of our forebears, we have not strayed far from their vision. In the 65 years since Independence, Nigeria has made remarkable progress in economic growth, social cohesion, and physical development. Our economy has seen significant expansion since 1960.
It is easy for some to focus solely on what remains to be done, but we must acknowledge and celebrate our substantial achievements. Today, Nigerians enjoy better access to education and healthcare compared to 1960. At Independence, Nigeria had only 120 secondary schools with approximately 130,000 students. By 2024, data shows we had over 23,000 secondary schools across the country. At Independence, we had just two tertiary institutions—the University of Ibadan and Yaba College of Technology. By the end of last year, Nigeria boasted 274 universities, 183 polytechnics, and 236 colleges of education, encompassing federal, state, and private institutions. We have witnessed significant growth across all sectors of our national life since Independence, including healthcare, infrastructure, financial services, manufacturing, telecommunications, information technology, aviation, and defense, among others.
In its 65 years of nationhood, Nigeria has experienced both triumphs and challenges, as is typical for any nation. We endured a bitter and avoidable civil war, lived through military dictatorships, and navigated major political crises. Through all these, we have weathered every storm and overcome every challenge with courage, resilience, and unwavering determination. While our system and the ties that bind us are sometimes strained by forces opposed to our values and way of life, we continue to strive toward building a more perfect union where every Nigerian can find opportunity, purpose, and fulfillment.
Fellow Compatriots, this is the third time I am addressing you on our Independence anniversary since I assumed office as your President on May 29, 2023. Over the past 28 months, like our founding fathers and leaders before me, I have committed myself irrevocably to the ongoing task of nation building.
When our administration took office, we inherited a near-collapsed economy, the result of decades of fiscal policy distortions and misalignments that had stifled real growth. We faced a stark choice: continue with business as usual and watch our nation drift further into decline, or embark on a bold and fundamental reform path. We chose reform. We chose the path of tomorrow over the comfort of today. Less than three years later, the seeds of those difficult but necessary decisions are yielding results.
To reset our country for sustainable growth, we eliminated corrupt fuel subsidies and multiple foreign exchange rates that had created massive incentives for a rentier economy, benefiting only a small minority while the masses gained little from our Commonwealth. Our administration has redirected the economy toward a more inclusive path, channeling funds into education, healthcare, national security, agriculture, and critical infrastructure such as roads, power, broadband, and social investment programs. These initiatives are designed to improve the quality of life for Nigerians. The tough decisions we made have enabled federal, state, and local governments to have more resources to address the needs of the people at the grassroots level and tackle our development challenges.
Fellow Nigerians, we are in a race against time. We must build the roads we need, repair those that have fallen into disrepair, and construct the schools our children will attend and the hospitals that will care for our people. We must plan for the generations yet to come. We lack sufficient electricity to power our industries and homes today, and we do not have the resources to repair our deteriorating roads, build seaports, railroads, and international airports comparable to the best in the world because we failed to make the necessary investments decades ago. Our administration is working to set things right.
I am pleased to report that we have turned the corner. The worst is over. The pains of yesterday are giving way to relief. I salute your endurance, support, and understanding, and I will continue to work tirelessly to justify the confidence you have placed in me to steer our nation toward a safe harbor.
Under our leadership, our economy is recovering rapidly, and the reforms we initiated over two years ago are delivering tangible results. In the second quarter of 2025, Nigeria’s Gross Domestic Product grew by 4.23%, the fastest pace in four years, surpassing the International Monetary Fund’s projection of 3.4%. Inflation dropped to 20.12% in August 2025, the lowest in three years. Our administration is working diligently to boost agricultural production and ensure food security, which will help reduce food costs.
Over the past two years, our administration has achieved 12 significant economic milestones through the implementation of sound fiscal and monetary policies:
1. We have achieved a record-breaking increase in non-oil revenue, reaching our 2025 target by August with over N20 trillion. In September 2025 alone, we raised N3.65 trillion, a 411% increase compared to May 2023.
2. We have restored fiscal health: Our debt service-to-revenue ratio has been significantly reduced from 97% to below 50%. We have paid down the infamous “Ways and Means” advances that threatened our economic stability and fueled inflation. Following the removal of the corrupt petroleum subsidy, we have freed up trillions of Naira for targeted investments in the real economy and social programs for the most vulnerable, as well as for all tiers of government.
3. Our foreign reserve position is stronger than it was three years ago. External reserves increased to $42.03 billion in September 2025, the highest since 2019.
4. Our tax-to-GDP ratio has risen to 13.5% from less than 10%. This ratio is expected to increase further when the new tax law takes effect in January. The tax law focuses on expanding the tax base to build the Nigeria we deserve while providing relief to low-income earners, not increasing the burden on existing taxpayers.
5. Nigeria is now a net exporter, recording a trade surplus for five consecutive quarters. We are selling more to the world than we are buying, a fundamental shift that strengthens our currency and creates jobs at home. Nigeria’s trade surplus increased by 44.3% in Q2 2025 to ₦7.46 trillion ($4.74 billion), the largest in about three years. Goods manufactured in Nigeria and exported surged by 173%. Non-oil exports now account for 48% of our export trade, compared to 52% for oil exports, signaling diversification of our economy and foreign exchange sources beyond oil and gas.
6. Oil production has rebounded to 1.68 million barrels per day from barely one million in May 2023, driven by improved security, new investments, and better stakeholder management in the Niger Delta. Additionally, Nigeria has made significant strides by refining PMS domestically for the first time in four decades and establishing itself as Africa’s leading exporter of aviation fuel.
7. The Naira has stabilized after the turbulence and volatility of 2023 and 2024. The gap between the official and unofficial market rates has narrowed significantly due to foreign exchange reforms and fresh capital and remittance inflows. The multiple exchange rates that fostered corruption and arbitrage are now history. Furthermore, our currency’s value against the dollar is no longer tied to fluctuations in crude oil prices.
8. Under our social investment program to support poor and vulnerable households, N330 billion has been disbursed to eight million households, with many receiving one or two of the three N25,000 tranches.
9. Coal mining has seen a dramatic recovery, moving from a 22% decline in Q1 to 57.5% growth in Q2, becoming one of Nigeria’s fastest-growing sectors. The solid mineral sector is now a cornerstone of our economy, promoting value-added production of minerals extracted from our soil.
10. We are expanding transport infrastructure across rail, roads, airports, and seaports. Rail and water transport grew by over 40% and 27%, respectively. The 284-kilometer Kano-Kastina-Maradi Standard Gauge rail project and the Kaduna-Kano rail line are nearing completion. Progress is strong on the legacy Lagos-Calabar Coastal Highway and Sokoto-Badagry Highway. The Federal Executive Council recently approved $3 billion to complete the Eastern Rail Project.
11. The world is taking notice of our efforts. Sovereign credit rating agencies have upgraded their outlook for Nigeria, recognizing our improved economic fundamentals. Our stock market is experiencing an unprecedented boom, rising from an all-share index of 55,000 points in May 2003 to 142,000 points as of September 26, 2025.
12. At its last Monetary Policy Committee meeting, the Central Bank cut interest rates for the first time in five years, signaling confidence in our country’s macroeconomic stability.
SECURITY:
We are working diligently to enhance national security, which supports improved economic growth and performance. The officers and men of our armed forces and other security agencies are making significant sacrifices to keep us safe. They are winning the fight against terrorism, banditry, and other violent crimes. Their victories are evident in their efforts to combat Boko Haram in the North-East, IPOB/ESN in the South-East, and banditry and kidnapping nationwide. We must continue to celebrate their gallantry and salute their courage on behalf of a grateful nation. Peace has returned to hundreds of liberated communities in the North-West and North-East, and thousands of our people have safely returned to their homes.
YOUTH:
To our young people, I say: you are the future and the greatest assets of this blessed country. Continue to dream big, innovate, and excel in fields such as science, technology, sports, and the arts and creative sector. Our administration, through policies and funding, will continue to empower you to soar. We established NELFUND to provide student loans for educational pursuits. Approximately 510,000 students across 36 states and the FCT, covering 228 higher institutions, have benefited from this initiative. As of September 10, N99.5 billion in loans and N44.7 billion in upkeep allowances have been disbursed.
Credicorp, another initiative, has provided N30 billion in affordable loans to 153,000 Nigerians for vehicles, solar energy, home upgrades, digital devices, and more.
YouthCred, promised last June, is now a reality, with tens of thousands of NYSC members benefiting from consumer credit for resettlement.
Under our Renewed Hope Agenda, we pledged to build a Nigeria where every young person, regardless of background, has an equitable opportunity to access a better future. The Investment in Digital and Creative Enterprises (iDICE) program, driven by the Bank of Industry in collaboration with the African Development Bank, the French Development Agency, and the Islamic Development Bank, is on the verge of implementation. Over the past two years, we have worked with our partners to launch this program to support our young innovators and dreamers in the technology and creative sectors.
A MESSAGE OF HOPE
Fellow Nigerians, I have always been candid about the temporary pains caused by our reforms. The biting effects of inflation and the rising cost of living remain a significant concern for our government. However, the alternative allowing our country to slide into economic chaos or bankruptcy was not an option. Our macroeconomic progress proves that our sacrifices have not been in vain. Together, we are building a new foundation on solid ground, not quicksand.
Our success will not be measured solely by economic statistics but by the food on our families’ tables, the quality of education our children receive, the electricity in our homes, and the security in our communities. I assure you of our administration’s commitment to channeling the resources we have saved and the stability we have built into these critical areas. Today, state governors and local government autonomy are driving more development.
On this 65th Independence Anniversary, my message is one of hope and a call to action. The federal government will continue to fix the structural issues in our economy. Now, we must all turn on the taps of productivity, innovation, and enterprise, as exemplified by the Ministry of Interior’s efforts to streamline passport processing. I urge sub-national entities to join us in nation-building. Let us be a nation of producers, not just consumers. Let us farm our land and build factories to process our produce. Let us patronize ‘Made-in-Nigeria’ goods. I say Nigeria first. Let us pay our taxes.
Finally, let all hands be on deck. Let us believe once more in the boundless potential of our great nation.
With Almighty God on our side, I assure you that the dawn of a new, prosperous, self-reliant Nigeria is here.
Happy 65th Independence Anniversary, and may God continue to bless the Federal Republic of Nigeria.
Amen.
Bola Ahmed Tinubu, GCFR
President and Commander-In-Chief of the Armed Forces of the Federal Republic of Nigeria,
Presidential Villa,
Abuja.
