President Bola Ahmed Tinubu, in his Independence Day broadcast on Wednesday, commemorating Nigeria’s 65th anniversary, paid glowing tribute to the nation’s founding fathers while making a spirited defence of his administration’s economic reforms.
The President acknowledged the pains Nigerians face due to subsidy removal and other tough policies but assured that the country has “turned the corner” toward stability and growth. He stressed that Nigeria is “racing against time” to fix decades of underinvestment in power, roads, ports, and infrastructure, yet insisted that the foundation for a prosperous future is being laid.
Key Highlights of Tinubu’s Independence Speech
- Tribute to Heroes of Independence – Tinubu honoured nationalist leaders including Nnamdi Azikiwe, Obafemi Awolowo, Ahmadu Bello, and Margaret Ekpo, praising their vision of a united, prosperous nation.
- National Progress Since 1960 – He pointed to remarkable growth in education, health, and infrastructure: secondary schools increased from 120 at independence to over 23,000 today, while tertiary institutions expanded from just two to more than 690.
- Resilience Through Trials – Reflecting on the civil war, military rule, and political upheavals, he said Nigeria’s survival proves its people’s resilience.
- Inherited Weak Economy – The President admitted that his administration met a nearly collapsed economy after decades of mismanagement.
- Bold Reforms Justified – He defended the removal of fuel subsidy and foreign exchange unification, explaining that the savings are now redirected to healthcare, education, security, agriculture, and infrastructure.
- Signs of Economic Recovery – Nigeria recorded 4.23% GDP growth in Q2 2025, inflation fell to 20.12%, and foreign reserves rose to $42 billion—the highest in six years.
- 12 Economic Milestones – Tinubu listed major strides, including:
- Non-oil revenue surpassing ₦20 trillion by August 2025.
- Debt service-to-revenue ratio slashed from 97% to below 50%.
- “Ways and Means” debt fully repaid.
- Oil production rebounding to 1.68m bpd with local refining restored.
- Naira stabilisation and abolition of multiple FX rates.
- ₦330bn disbursed to 8 million poor households.
- Surging non-oil exports, booming solid minerals, ongoing road, rail, and port projects, plus a stock market rally with global credit rating upgrades.
- Infrastructure Gap – He admitted Nigeria still lags in electricity, ports, and modern roads, but pledged aggressive investment to close the gap.
- Improved Security – Tinubu praised the armed forces for victories against Boko Haram, IPOB/ESN, and banditry, noting relative calm in the North-East and North-West.
- Youth Empowerment Initiatives – He highlighted programmes like:
- NELFUND: ₦100bn in student loans benefiting over 510,000 youths.
- Credicorp: ₦30bn in loans for housing, vehicles, and solar energy.
- YouthCred: consumer credit for NYSC members.
- iDICE: multi-billion naira scheme for digital and creative industries.
- Support for Vulnerable Nigerians – Over 8 million households benefitted from cash transfers.
- Global Confidence Restored – Nigeria’s credit ratings improved, with stronger investor interest and record-breaking stock market performance.
- Monetary Policy Shift – The Central Bank cut interest rates for the first time in five years, signalling restored stability.
- Hope Despite Hardship – Tinubu admitted that citizens are burdened by inflation and rising costs but maintained the reforms were unavoidable to avert national bankruptcy.
- Patriotism & Productivity – He called on Nigerians to embrace local production, pay taxes, and reduce reliance on imports.
- Shared Responsibility for Nation-Building – He urged collaboration between federal, state, and local governments.
- Vision for the Future – Closing on an optimistic note, he declared: “The dawn of a new, prosperous, self-reliant Nigeria is here,” and prayed for God’s continued blessing on the nation.