Nigeria has passed through its own Red Sea, prosperity is next — President Tinubu

President Bola Ahmed Tinubu says Nigeria has crossed a critical phase of economic reforms and is now positioned for shared prosperity, as the country marked its 66th Independence anniversary.

In his address themed “From Reforms to Prosperity,” the President said the nation had endured decades of hardship, including war, military rule, economic crises and insecurity, yet remained resilient through the efforts of ordinary citizens which includes farmers, traders, teachers, entrepreneurs and security personnel.

Tinubu likened the country’s pre-2023 economic condition to a cancer patient who needed decisive treatment rather than temporary pain relief.

He stated that successive administrations had postponed hard choices, allowing distortions to deepen. His government, he said, chose to confront the root problems instead of masking symptoms.

According to him, the economy grew by over four per cent this year with contributions from both oil and non-oil sectors; oil theft declined; inflation fell from its peak; foreign reserves were rebuilt; the foreign exchange market stabilised; and non-oil exports hit a record above $6 billion in 2025. International observers and private investors, he noted, have recognised the improved stability.

With the emergency treatment phase over, President Tinubu said the new priority is widespread prosperity, safer farming, reliable power for industry, affordable food and transport, accessible education and productive jobs for Nigeria’s young population.

He acknowledged that many families still struggle with daily needs and stressed that social support programmes, including an improved National Social Register, the Nigerian Education Loan Fund and consumer credit through CREDICORP, serve as bridges while the economy creates lasting opportunities.

“Nigeria has corrected its course. We have passed through our own Red Sea. This is not the time to look back,” the President said, calling on citizens to move forward together toward a nation of broadly shared abundance.

He wished Nigerians a happy Independence Day and invoked God’s blessings on the Federal Republic.