President Bola Ahmed Tinubu has declared that Nigeria has moved beyond the most difficult phase of his administration’s economic reforms, saying the country must now focus on jobs, lower living costs, industrial growth and shared prosperity.

Tinubu made the declaration on Thursday, October 1, 2026, in his Independence Day address to Nigerians as the country marked its 66th anniversary. He said the reforms introduced by his administration had been difficult and had produced real hardships, but argued that they were aimed at addressing what he described as deep economic distortions.

The President said Nigeria’s economy had grown by more than four per cent in 2026, while oil theft had declined, inflation had fallen from its peak, foreign reserves had been rebuilt and the foreign exchange market had stabilised. He also said the country recorded more than $6 billion in non-oil export revenue in 2025.

Tinubu acknowledged that millions of Nigerians are still struggling with food, education, healthcare and transportation costs. He said the government would now place greater emphasis on job creation, enterprise, industrial expansion and measures aimed at improving household welfare, while strengthening support for vulnerable Nigerians.

The President also ruled out a return to what he described as unsustainable subsidy policies, urging Nigerians to continue with the reform path. He said, “The emergency treatment is over. The foundation has been repaired,” and described the next phase as one focused on “shared and widespread prosperity.”