Ten Key Highlights from President Tinubu’s 65th Independence Day Address

President Bola Ahmed Tinubu, in his address marking Nigeria’s 65th Independence Day on Wednesday, reassured the nation’s citizens that the most challenging economic phase is now in the past, with his reforms already yielding positive outcomes. He encouraged Nigerians to exercise patience and maintain optimism, emphasising that “the worst is over, and prosperity is near.”

The President outlined numerous accomplishments achieved under his leadership, attributing them to the sustained implementation of reform measures. Below are the principal elements of the speech:

1. Economic Expansion
   President Tinubu reported that Nigeria’s Gross Domestic Product expanded by 4.23% in the second quarter of 2025, while inflation moderated to 20.12%, marking the lowest rate in three years. He attributed these developments to rigorous reforms, such as the elimination of fuel subsidies and the unification of the exchange rate, which have channelled resources towards productive sectors. Over the past two years, his administration has accomplished 12 significant economic benchmarks through prudent fiscal and monetary policies, including a record surge in non-oil revenue—surpassing the 2025 target by August with more than ₦20 trillion—and generating ₦3.65 trillion in September 2025 alone, a 411% increase compared to May 2023.
   He remarked: “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%—Nigeria’s fastest pace in four years—and outpaced the 3.4 per cent projected by the International Monetary Fund. Inflation declined to 20.12% 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. We have attained a record-breaking increase in non-oil revenue, achieving the 2025 target by August with over N20 trillion. In September 2025 alone, we raised N3.65 trillion, 411% higher than the amount raised in May 2023.”
2. Bolstered Reserves
   External reserves have climbed to $42.03 billion—the highest level since 2019—while the country is now achieving steady trade surpluses, signalling heightened investor trust in the economy.
   He noted: “We have a stronger foreign Reserve position than three years ago. Our external reserves increased to $42.03 billion this September—the highest since 2019.”
3. Fiscal Prudence
   The ratio of debt servicing to revenue has fallen from 97% in 2022 to under 50% at present, affording the government greater leeway to allocate funds towards healthcare, education, infrastructure, and social welfare programmes. This progress includes settling the notorious “Ways and Means” advances that once jeopardised economic steadiness and fuelled inflation, alongside liberating trillions of naira for strategic investments following the abolition of the corrupt petroleum subsidy.
   He explained: “We have restored Fiscal Health: Our debt service-to-revenue ratio has been significantly reduced from 97% to below 50%. We have paid down the infamous ‘Ways and Means’ advances that threatened our economic stability and triggered inflation. Following the removal of the corrupt petroleum subsidy, we have freed up trillions of Naira for targeted investment in the real economy and social programmes for the most vulnerable, as well as all tiers of government.”
4. Advancements in Oil and Energy
   Crude oil output has risen to 1.68 million barrels per day, up from scarcely one million in May 2023, thanks to enhanced security, fresh investments, and improved stakeholder coordination in the Niger Delta. Moreover, domestic refining of petrol has recommenced after four decades, positioning Nigeria as Africa’s foremost exporter of aviation fuel and bolstering energy autonomy.
   He declared: “Oil production rebounded to 1.68 million barrels per day from barely one million in May 2023. The increase occurred due to improved security, new investments, and better stakeholder management in the Niger Delta. Furthermore, the country has made notable advancements by refining PMS domestically for the first time in four decades. It has also established itself as the continent’s leading exporter of aviation fuel.”
5. Infrastructure Initiatives
   Key undertakings, such as the Lagos–Calabar Coastal Highway and the Kano–Maradi rail line, are advancing apace and are poised to revolutionise commerce, employment, and interconnectivity across the nation.
6. Social Welfare Programmes
   More than ₦330 billion has been allocated to eight million vulnerable households via the Social Investment Programme, complemented by schemes like YouthCred and Credicorp to extend credit to families and young people.
7. Student Loan Scheme
   Over 510,000 students have gained from the Nigerian Education Loan Fund, a pivotal step in rendering tertiary education attainable irrespective of socioeconomic origins.
8. Progress on Security
   Security personnel are progressively regaining control of areas held by terrorists and bandits, enabling displaced individuals in the North-East and North-West to return home. The President reaffirmed the government’s unwavering resolve to eradicate insecurity.
9. Empowering the Youth
   President Tinubu lauded the resourcefulness of Nigerian youth, spotlighting programmes such as iDICE, student loans, and funds for the creative industries as targeted strategies to nurture tomorrow’s pioneers and business minds. He addressed the younger generation: “I have a message for our young people. You are the future and the greatest assets of this blessed country. You must continue to dream big, innovate, and conquer more territories in your various fields of science, technology, sports, and the art and creative sector. Our administration, through policies and funding, will continue to give you wings to fly sky-high. We created NELFUND to support students with loans for their educational pursuits. Approximately 510,000 students across 36 states and the FCT have benefited from this initiative, covering 228 higher institutions. As of September 10, the total loan disbursed was N99.5 billion, while the upkeep allowance stood at N44.7 billion.”
10. Fostering Unity and Nation-Building
    The President honoured Nigeria’s forebears, imploring citizens to derive inspiration from their aspirations for cohesion and eminence. He exhorted Nigerians to cultivate patriotism, champion domestic manufacturing, and discharge civic responsibilities like taxation to forge a more robust republic.