President Bola Ahmed Tinubu delivered Nigeria’s 65th Independence Day address, expressing optimism about the nation’s economic recovery and outlining his administration’s achievements. He assured Nigerians that the toughest economic challenges are over and urged patience as reforms yield results. Below are the key points from his speech:
1. Economic Recovery
Tinubu highlighted a 4.23% GDP growth in Q2 2025, outpacing IMF projections, and a drop in inflation to 20.12%, the lowest in three years. He attributed these to reforms like subsidy removal and exchange rate unification, which have boosted non-oil revenue to over ₦20 trillion by August 2025, including ₦3.65 trillion in September alone—a 411% increase from May 2023.
2. Robust Reserves
Nigeria’s external reserves reached $42.03 billion in September 2025, the highest since 2019, with consistent trade surpluses reflecting growing investor confidence.
3. Fiscal Health
The debt service-to-revenue ratio dropped from 97% in 2022 to below 50%, freeing funds for health, education, infrastructure, and welfare. The “Ways and Means” debt has been significantly reduced, stabilizing the economy.
4. Oil and Energy Progress
Crude oil production rose to 1.68 million barrels per day from 1 million in May 2023, driven by enhanced security and investments in the Niger Delta. Domestic petrol refining resumed after 40 years, and Nigeria became Africa’s leading aviation fuel exporter.
5. Infrastructure Development
Major projects like the Lagos–Calabar Coastal Highway and Kano–Maradi rail line are advancing, fostering trade, job creation, and connectivity.
6. Social Investment Initiatives
Over ₦330 billion has been disbursed to eight million vulnerable households through the Social Investment Programme, with YouthCred and Credicorp providing loans to support households and young Nigerians.
7. Education Access
The Nigerian Education Loan Fund (NELFUND) has supported over 510,000 students across 228 institutions, disbursing ₦99.5 billion in loans and ₦44.7 billion in upkeep allowances by September 2025.
8. Security Improvements
Security forces are making gains against terrorists and bandits, enabling displaced persons in the North-East and North-West to return home. Tinubu reaffirmed the government’s commitment to tackling insecurity.
9. Youth Empowerment
Initiatives like iDICE, NELFUND, and creative industry funds aim to support young innovators in science, technology, sports, and the arts, with Tinubu emphasizing youths as Nigeria’s greatest asset.
10. Call for Unity
The President honored Nigeria’s founding fathers, urging citizens to embrace patriotism, support local production, and fulfill civic duties like tax payment to build a stronger, united nation.
Tinubu concluded by encouraging Nigerians to remain hopeful, stating, “The worst is over, and prosperity is near.”
