President Bola Tinubu has announced that Nigeria is emerging from one of its toughest economic challenges in recent history, insisting that the bold reforms introduced by his administration are now delivering tangible results.
In a national broadcast marking Nigeria’s 65th Independence anniversary, Tinubu declared that “the worst is over,” citing improvements across key economic indicators, including GDP growth, inflation, non-oil revenue, and foreign reserves.
According to the President, the economy expanded by 4.23 percent in the second quarter of 2025, the fastest pace in four years and above IMF projections. Inflation dropped to 20.12 percent, its lowest level in three years, while external reserves climbed to $42.03 billion.
He attributed the turnaround to fiscal and monetary reforms such as petrol subsidy removal, tax reforms, and foreign exchange unification, which he said ended years of distortions.
The government, he added, is now channelling more funds into infrastructure, social programmes, and security.
Tinubu pointed to record non-oil revenue of over N20 trillion, trade surpluses, and increased manufacturing exports as evidence of diversification.
He also announced that Nigeria is refining petrol domestically for the first time in four decades and has become Africa’s leading exporter of aviation fuel.
“The seeds of our painful reforms are bearing fruit,” Tinubu said. “We are on a path to lasting stability, prosperity, and growth.”
