President Bola Ahmed Tinubu yesterday listed 12 remarkable economic milestones recorded by his administration as a result of the implementation of sound fiscal and monetary policies.
Exuding confidence about the workability and potency of his bold socio-economic reforms, he reiterated that Nigeria had finally turned the corner, adding ‘the worst is over.’
‘In the last 28 months of my administration, like our founding fathers and leaders, who came before me, I have committed myself irrevocably to the unfinished nation-building business,’ he said in his Independence Anniversary broadcast to the nation this morning.
President Tinubu, who urged Nigerians to team up with his government in accomplishing the unfinished task, assured Nigerians of great relief after the transient pains of reforms.
He hailed the endurance, support and understanding of Nigerians as his administration redirected the economy towards a more visible path, noting that their patience was not in vain.
The 12 milestones highlighted by the President are:
Record-breaking increase in non-oil revenue;
Restoration of fiscal health as manifested in reduced debt service-to-revenue ratio;
Stronger Foreign Reserve, increased tax-to-Gross Domestic Product (GDP) ratio;
Increased export drive leading to the strengthening of the currency and job creation;
Increased oil production up to I.6 million barrels per day, and domestic refining; and
N330 billion social investment programme for poor households.
Others are:
Rise in coal mining activities;
Expansion of rail, road, air and sea transport infrastructure;
Improved sovereign credit rating through boom in oil stock market; and
Slash in interest rate for the first time in five years by the Central Bank of Nigeria (CBN).
President Tinubu, who reflected on the journey to nationhood from October 1, 1960, when the country achieved Independence, paid tribute to the sacrifice, devotion and vision of the founding fathers who fought for self-rule.
He noted that progress has not been static since, judging by the growth in the sectors, including education, health, infrastructure, financial services, telecommunications, information technology, aviation and defence.
Tinubu said life has been full of ups-and-downs for Nigeria in its 65 years of nationhood, as shown by its experience of a bitter and avoidable civil war, military dictatorships and major political crises.
He lamented that the country suffered ‘because we failed to make the necessary investments decades ago.’
President Tinubu said under his leadership, the economy is recovering fast because the reforms are delivering results.
He added: ‘In the second quarter of 2025, Gross Domestic Product grew by 4.23 per cent- Nigeria’s fastest pace in four years – and outpaced the 3.4 per cent projected by the International Monetary Fund.
‘Inflation declined to 20.12 per cent in August 2025, the lowest in three years. The administration is working diligently to boost agricultural production and ensure food security, reducing food costs.’
The President solicited patriotic spirit from Nigerians and canvassed civil engagements.
The President drew a relationship between security and economic growth, assuring that the anti-terror war would be fought with vigour.
He said: ‘The officers and men of our armed forces and other security agencies are working tirelessly and making significant sacrifices to keep us safe. They are winning the war against terrorism, banditry and other violent crimes.
‘We see their victories in their blood and sweat to stamp out Boko Haram Terror in Northeast, IPOB/ESN terror in Southeast and banditry and kidnapping.
‘We must continue to celebrate their gallantry and salute their courage on behalf of a grateful nation. Peace has returned to hundreds of our liberated communities in Northwest and Northeast, and thousands of our people have returned safely to their homes.’
To the youth, the President said: ‘You are the future and the greatest assets of this blessed country. You must continue to dream big, innovate, and conquer more territories in your various fields of science, technology, sports, and the art and creative sector.
‘Our administration, through policies and funding, will continue to give you wings to fly sky-high.
‘We created NELFUND to support students with loans for their educational pursuits. Approximately 510,000 students in 36 states and the FCT have benefited from this initiative, covering 228 higher institutions. As of September 10, the total loan disbursed was N99.5 billion, while the upkeep allowance stood at N44.7 billion.’
President Tinubu said under the Renewed Hope Agenda, equitable access to a better future has been guaranteed to Nigerians.
Acknowledging that the reforms are accompanied by temporary pains, he said ‘the alternative of allowing our country to descend into economic chaos or bankruptcy was not an option.’
He assured that the resources saved and the stability built would be channelled into proper development.
President Tinubu said ‘we must all turn on the taps of productivity, innovation, and enterprise, just like the Ministry of Interior has done with our travel passports, by quickening the processing.’
He added: ‘In this regard, I urge the sub-national entities to join us in nation-building. Let us be a nation of producers, not just consumers. Let us farm our land and build factories to process our produce. Let us patronise ‘Made-in-Nigeria’ goods. I say Nigeria first. Let us pay our taxes.
‘Let all hands be on deck. Let us believe, once more, in the boundless potential of our great nation.’