The Worst Is Over…Our Economy Is Recovering Fast – Tinubu Gives Telling Insights

President Bola Ahmed Tinubu on Tuesday reassured Nigerians that the country has weathered its toughest economic storm and is now on the path to sustained recovery.

In his national broadcast to mark Nigeria’s 65th Independence anniversary, the president said the “worst is over” and that reforms initiated since his assumption of office in May 2023 are already yielding results.

Tinubu said his administration inherited a “near-collapsed economy” but chose the “path of reform” instead of continuing with business as usual. According to him, ending fuel subsidies and multiple exchange rates were bold but necessary steps that have redirected the economy towards inclusiveness, with resources now channelled to education, healthcare, national security, agriculture and critical infrastructure.

The president highlighted twelve key milestones achieved over the last two years, including record non-oil revenue generation, improved external reserves, a growing tax-to-GDP ratio, increased oil production, and significant trade surpluses that signal economic diversification. He said the country’s foreign reserves rose to $42.03 billion in September, while inflation declined to 20.12 percent in August 2025—the lowest in three years.

Tinubu noted that Nigeria’s GDP grew by 4.23 percent in the second quarter of 2025, the fastest in four years and higher than the IMF’s 3.4 percent projection. He added that the debt service-to-revenue ratio, once as high as 97 percent, has now been cut to below 50 percent. “Yesterday’s pains are giving way to relief,” he said, saluting Nigerians for their endurance and trust in his administration.

On social investment, Tinubu said over eight million vulnerable households have benefitted from direct cash transfers, while students across 228 institutions have accessed NELFUND loans totalling nearly N100 billion. He also pointed to new initiatives such as Credicorp and YouthCred, designed to expand consumer credit and support young Nigerians with opportunities in technology, creative industries, and enterprise.

On security, the president maintained that the armed forces are recording victories across multiple fronts, restoring peace to several communities in the north-east and north-west, and allowing thousands of displaced Nigerians to return home. He commended their gallantry and sacrifice, saying the nation must celebrate their efforts.

Acknowledging the hardships caused by reforms, Tinubu insisted they were necessary to avoid national bankruptcy and set Nigeria on a stronger footing. He said success would ultimately be measured not only by statistics but by improved living standards, food security, quality education, stable electricity supply, and safer communities.

Calling for collective responsibility, he urged citizens to embrace productivity, innovation, and patronage of locally made goods.

“Let us be a nation of producers, not just consumers. Let us farm our land and build factories to process our produce. Let us pay our taxes. I say Nigeria first,” he canvassed.

Tinubu ended his broadcast with a message of hope, insisting that Nigeria is entering a new era of prosperity. “With Almighty God on our side, I can assure you that the dawn of a new, prosperous, self-reliant Nigeria is here,” he said.