…Insists he ended fuel subsidies, multiple FX rates to reset Nigeria
…Says govt winning war against violent crime
President Bola Tinubu on Wednesday said that with the economic reforms embarked on by his administration, the worst is now over.
Tinubu gave the assurance in his nationwide broadcast to celebrate Nigeria’s 65th Independence Day anniversary.
“Our administration is setting things right. I am pleased to report that we have finally turned the corner. The worst is over, I say,” he stated.
While saluting Nigerians for their their endurance, support, and understanding, the President said yesterday’s pains were giving way to relief.
“I will continue to work for you and justify the confidence you reposed in me to steer the ship of our nation to a safe harbour.
“Under our leadership, our economy is recovering fast, and the reforms we started over two years ago are delivering tangible results.
“The second quarter 2025 Gross Domestic Product grew by 4.23 per cent —Nigeria’s fastest pace in four years—and outpaced the 3.4 per cent projected by the International Monetary Fund,” the President said.
“Inflation declined to 20.12 per cent in August 2025, the lowest level in three years. The administration is working diligently to boost agricultural production and ensure food security, reducing food costs.
“In the last two years of our administration, we have achieved 12 remarkable economic milestones as a result of the implementation of our sound fiscal and monetary policies,” he added.
Meanwhile, Tinubu said his administration took the bold step of ending fuel subsidies and multiple foreign exchange rates to reset Nigeria on the path of sustainable growth and inclusive development.
“In resetting our country for sustainable growth, we ended the corrupt fuel subsidies and multiple foreign exchange rates that created massive incentives for a rentier economy, benefiting only a tiny minority. At the same time, the masses received little or nothing from our Commonwealth,” Tinubu said.
He explained that his administration had redirected the nation’s resources towards critical sectors to improve the lives of Nigerians.
“Our administration has redirected the economy towards a more inclusive path, channeling money to fund education, healthcare, national security, agriculture, and critical economic infrastructure, such as roads, power, broadband, and social investment programmes,” the president stated.
Despite the regular killings of Nigerians in different parts of Nigeria by armed groups, President Bola Tinubu said security agencies in his administration “are winning the war against terrorism, banditry and other violent crimes.”
Tinubu, however, said victories achieved need to be celebrated.
“Peace has returned to hundreds of our liberated communities in North-West and North-East, and thousands of our people have returned safely to their homes,” he said.