President Bola Tinubu has declared that Nigeria has passed through its own Red Sea and that prosperity is next, in a nationwide broadcast marking the country’s 66th Independence Anniversary on Thursday.
In the speech, Tinubu reflected on Nigeria’s journey since independence, acknowledging the hardships endured by citizens while insisting that the nation now stands at a turning point after years of difficult economic reforms.
“Sixty-six years ago today, our flag was raised, for the first time, over a free and sovereign nation,” the President said.
He noted that while the country has experienced hope, disappointment, war, military rule, economic crises, insecurity and political upheaval, the indomitable spirit of Nigerians has ensured its survival.
Tinubu compared the nation’s previous economic condition to a cancer patient who for too long received only pain relief instead of treatment.
He said successive leaders focused on symptoms while allowing deep economic distortions to take root, spending heavily on inefficient arrangements and postponing hard decisions.
“When this Administration assumed office, we resolved to do things differently. We chose to excise the cancer,” he stated.
“The reforms that followed were difficult. The side effects were real. Yet, we must never confuse the medicine with the disease.”
Three and a half years later, Tinubu said the evidence of improvement is clear. The economy has grown by over 4 per cent this year, with contributions from both oil and non-oil sectors.
Oil theft has declined, inflation has fallen substantially from its peak, foreign reserves have been rebuilt, the foreign exchange market has stabilised, and non-oil exports hit a record high of more than $6 billion in 2025.
International observers, journalists, NGOs and multilateral institutions have acknowledged the strengthened economic stability and resilience, while foreign direct investment continues to rise, he added.
“My fellow Nigerians, we have reached a turning point,” Tinubu declared. “The emergency treatment is over.
"The foundation has been repaired… Now, our purpose is simple: shared and widespread prosperity.”
He defined prosperity not merely in abstract economic figures but in practical terms: farmers cultivating land safely and earning decent returns, factories with reliable power, businesses accessing credit, young people finding productive work, affordable food and transport, accessible education, and families looking to the future with confidence.
Key priorities outlined include reducing the cost of living by lowering production and transportation costs through expanded mechanised and dry-season farming, better access to seeds and fertiliser, improved storage and transport infrastructure, and completing roads, railways and ports.
On employment, Tinubu said the government would place jobs, enterprise and industrial growth at the centre of policy.
Plans include using gas to power new industries, supporting the revival of factories, expanding digital connectivity, investing in relevant skills, and providing infrastructure and finance for businesses.
Acknowledging that many families still struggle with daily needs, he stressed that the government is strengthening direct support for the poorest households, improving the National Social Register, expanding the Nigerian Education Loan Fund, providing consumer credit through CREDICORP, and working with states and local governments to boost primary healthcare and basic education.
Salaries and pensions have been paid on time and in full since 2023, he noted.
“These programmes are not substitutes for prosperity. They are a bridge… Our objective is not to manage poverty more efficiently. We will defeat it,” Tinubu said.
He concluded that the age of reform has done its work and the age of prosperity has begun.“Nigeria has corrected its course. We have passed through our own Red Sea. This is not the time to look back. Let us go forward together, with faith in ourselves, faith in our country, and faith that the sacrifices we have made will yield their reward.
“The Promised Land before us is a Nigeria of abundance and opportunity… Our destination is in sight. Our foundations are strong. Our direction is clear. So let us go forward. No looking back.“Happy Independence Day, my fellow Nigerians. God bless you all, and God bless the Federal Republic of Nigeria.”
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