President Bola Ahmed Tinubu, in national broadcast to mark Nigeria’s 65th Independence Anniversary on Wednesday, unveiled what he described as a “remarkable turnaround” in the country’s economic and infrastructural landscape, crediting sound fiscal and monetary reforms implemented since his administration began.
In a confident and data-driven address, Tinubu highlighted 12 major achievements across revenue generation, debt management, trade, energy, infrastructure, and social welfare. The president said these milestones are signs that Nigeria is “on the right path” toward economic stability and growth.
Key Highlights from President Tinubu’s Speech:
- Record Non-Oil Revenue Growth
Nigeria exceeded its 2025 non-oil revenue target by August, raking in over ₦20 trillion, with ₦3.65 trillion raised in September alone—a 411% increase from May 2023. -
Fiscal Stability Restored
The country’s debt service-to-revenue ratio dropped from 97% to below 50%, bolstered by the end of the controversial fuel subsidy and the repayment of “Ways and Means” advances.READ ALSO: Fubara fires entire cabinet vows fresh start - Rising Foreign Reserves
External reserves rose to $42.03 billion—the highest since 2019—offering a stronger financial buffer. - Boost in Tax-to-GDP Ratio
The ratio climbed from under 10% to 13.5%, with new tax laws set to broaden the base and offer relief to low-income earners starting January 2026. - Nigeria Becomes a Net Exporter
The nation recorded trade surpluses for five consecutive quarters, with exports outpacing imports. Non-oil exports now make up 48% of total exports. - Oil Sector Recovery
Daily crude production rose to 1.68 million barrels, up from one million in 2023, while Nigeria refined petrol locally for the first time in 40 years. - Naira Stabilisation
Following FX reforms, the Naira has seen reduced volatility. The gap between official and black-market rates has narrowed significantly. - Direct Support to Vulnerable Households
Under the social investment programme, ₦330 billion has been disbursed to 8 million households, each receiving up to ₦25,000 in tranches. - Boom in Coal and Solid Minerals
The coal mining sector surged by 57.5% in Q2, reversing a sharp decline and positioning solid minerals as a new growth frontier. - Massive Infrastructure Drive
Rail, roads, and seaports are undergoing major upgrades. Projects like the Kano-Katsina-Maradi Rail and Lagos-Calabar Coastal Highway are in advanced stages. - Global Recognition
Sovereign credit rating agencies have upgraded Nigeria’s outlook, while the Nigerian Stock Exchange hit a historic high of 142,000 points—up from 55,000 in 2023. - Interest Rate Cut Signals Confidence
The Central Bank of Nigeria cut interest rates for the first time in five years, signalling trust in the country’s improved macroeconomic environment.
President Tinubu concluded his address by calling on Nigerians to unite and continue building a prosperous nation, saying, “We are not yet where we want to be, but we have taken bold steps to get there. Together, we will build the Nigeria we all deserve.”
His Independence Day remarks are likely to fuel debate across political and economic circles, as the country continues to navigate the long road toward sustainable development.
