Nigeria at 65: President Declares ‘The Worst is Over’ as Economy Records Strong Growth

Abuja, October 1, 2025 – President Bola Tinubu on Wednesday said Nigeria has moved past its most difficult economic period as the nation marked its 65th Independence anniversary. In his national broadcast, he outlined the progress made under his administration since May 2023, noting that the removal of fuel subsidies and unification of exchange rates redirected resources into infrastructure, education, healthcare, security, agriculture, and social programmes.

The President highlighted that the economy grew by 4.23 per cent in the second quarter of 2025, inflation dropped to its lowest level in three years, foreign reserves rose to $42.03 billion, non-oil revenue surpassed N20 trillion, and the country recorded consistent trade surpluses with significant growth in manufactured and non-oil exports. He also pointed to improvements in oil production, currency stability, credit ratings, the stock market, and interest rates. On national security, Tinubu reported gains in the fight against terrorism, banditry, and other violent crimes, with displaced communities returning home. He further stressed youth empowerment through loan schemes, education funds, and the $600 million iDICE programme to boost the digital and creative economy. The President emphasised that while reforms had caused temporary hardship, they have set Nigeria on a path towards long-term prosperity and self-reliance.

Written by Adeyemi Adewale