[FULL TEXT] Nigeria @66: Tinubu declares ‘age of prosperity’ after three years of reforms

Nigeria's President Bola Tinubu declared on Thursday that his country has transitioned from a period of economic reforms into an era of prosperity, focusing on job creation, production, and improved living standards. In his Independence Day address celebrating the nation's 66th anniversary, Tinubu stated that the government's primary goal for the past three years has been to rectify Nigeria's economic course.

"The emergency treatment is over. The foundation has been repaired," the address read. "The central economic task before us has changed. For three years, our overriding purpose was to correct our nation's course. Now, our purpose is simple: shared and widespread prosperity."

Tinubu recounted Nigeria's journey since gaining independence 66 years ago, acknowledging the hardships and challenges the country faced, including periods of war, military rule, economic crises, insecurity, and political upheaval. He emphasized the resilience and determination of its people, who continued to believe in a better future for Nigeria. Tinubu expressed gratitude for the contributions of farmers, traders, teachers, and entrepreneurs who form the backbone of the nation.

The president highlighted the improvements in Nigeria's economic situation over the past three years, noting that the economy has grown by more than 4% this year, with both the oil and non-oil sectors contributing to stable growth. He reported a decline in oil theft, a substantial reduction in inflation, the rebuilding of foreign reserves, and a stabilisation of the foreign exchange market.

Importantly, non-oil exports have reached a record high of $6 billion, signifying real economic progress driven by Nigerian businesses. International observers, journalists, non-governmental organizations, and multilateral institutions have also acknowledged the positive changes resulting from the government's reforms.

Tinubu emphasized that while the economy has improved, the task now is to ensure shared prosperity among all Nigerians. He stated that his administration's purpose is now to focus on creating widespread prosperity, extending the benefits of economic growth to every citizen. This shift in focus comes after years of addressing the underlying weaknesses in the economy, which Tinubu described as confronting rather than creating the nation's challenges.