President Bola Tinubu has used Nigeria’s 66th Independence Day address to declare that the country has reached what he described as a “turning point,” saying his administration is shifting its attention from economic reforms to reducing the cost of living and expanding prosperity.
In his October 1 address, Tinubu said the period of what he called economic “emergency treatment” had ended and that the next phase would focus on making food and transportation more affordable, creating jobs and increasing economic opportunities for Nigerians.
The speech comes as “Nigeria independence day” and “Nigeria at 66” generate search interest on Google, with Nigerians looking for information about the anniversary, the President’s address and what the government is promising as the country begins its 67th year of independence.
Tinubu says Nigeria has reached a turning point
Tinubu argued that economic reforms introduced since his administration took office in 2023 had helped correct distortions in the Nigerian economy.
He pointed to economic growth of more than four per cent this year, lower inflation from its previous peak, increased foreign reserves, reduced oil theft and greater stability in the foreign-exchange market as signs of progress. These figures and characterisations were presented by the President as evidence supporting his assessment of the reforms.
He also said Nigeria earned more than $6 billion from non-oil exports in 2025.
The President described the next objective as “shared and widespread prosperity”, arguing that improved economic statistics would have limited meaning unless Nigerians experienced improvements in their daily lives.
Lower food and transport costs become a key promise
One of the most significant parts of Tinubu’s Independence Day message was his emphasis on the cost of living.
He said the government’s immediate priority was to reduce the cost of producing and transporting goods consumed by Nigerians.
The administration intends to expand mechanised farming, irrigation and dry-season agriculture while improving access to fertiliser, seeds, storage facilities and transportation infrastructure, according to the address.
Transportation has become another major focus. Ahead of Independence Day, Tinubu had directed states to accelerate the rollout of cheaper CNG-powered transportation, saying Nigerians should begin seeing measurable fare reductions from October 1. The government says more than 120,000 vehicles have already been converted to CNG and more than 400 conversion centres are operating nationwide.
Jobs and Nigerian production take centre stage
Tinubu also said job creation, enterprise and industrial development would form a major part of the government’s next economic phase.
The President said Nigeria’s gas resources would be used to support industries, while the government would seek to revive manufacturing centres, extend digital connectivity and provide businesses with infrastructure and financing.
He said he wanted more Nigerian farms supplying cities and factories and more businesses producing goods that could be sold both locally and internationally.
Tinubu acknowledges Nigerians are still struggling
Despite presenting an optimistic assessment of the economy, the President acknowledged that millions of Nigerians continue to struggle with food, transportation, healthcare and education expenses.
He said the government would continue programmes including the Nigerian Education Loan Fund, consumer credit through CREDICORP and targeted assistance for vulnerable households while pursuing broader economic growth.
The cost-of-living debate remains significant. The Nigeria Labour Congress, in its Independence Day message, called for lower petrol prices and negotiations for a new national minimum wage, arguing that rising living costs have eroded workers purchasing power.
From reform to prosperity
Perhaps the defining message from Tinubu’s speech was his declaration that the government’s economic narrative is changing.
“The age of reform has done its work. Now begins the age of prosperity.”
The statement represents the administration’s stated shift from asking Nigerians to endure the short-term effects of economic restructuring toward promising more visible improvements in household living standards.
For Nigerians, however, the coming months will provide measurable indicators of that promise: what happens to food prices, transportation fares, jobs and household purchasing power.
As Nigeria marks 66 years since independence on October 1, 1960, those everyday economic questions are likely to remain central to how citizens assess the country’s next chapter.
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