In a speech marking Nigeria’s 65th year, President Bola Tinubu declared the nation has “turned the corner,” asserting his reforms have yielded concrete economic progress despite widespread public hardship. He framed the journey as a necessary sacrifice, acknowledging the “temporary pains” of inflation while projecting a future of self-reliance and prosperity.
Key Points:
President Tinubu stated the “worst is over” and the economy is recovering faster than projected.
He cited 4.23% GDP growth in Q2 2025 and a decline in inflation to 20.12% in August.
Key milestones include external reserves rising to $42.03 billion, the highest since 2019.
Nigeria has recorded a trade surplus for five consecutive quarters, becoming a net exporter.
Oil production rebounded to 1.68 million barrels per day from one million in May 2023.
The student loan scheme has benefited approximately 510,000 students across the country.
The President urged state governments and citizens to join in building a “nation of producers.”
The address creates a stark narrative of macroeconomic triumph, challenging the lived reality of many and setting the stage for a national conversation on the true metrics of recovery.
Sources: TheCable