Tinubu Declares ‘Age of Prosperity’ as Nigeria Moves Beyond Economic Reforms
President says government will prioritise jobs, industrial growth, social protection and increased domestic production as Nigeria enters a new phase of economic development
ABUJA — President Bola Ahmed Tinubu has declared that Nigeria is moving from an era of difficult economic reforms into what he described as an “age of prosperity,” promising a stronger focus on job creation, industrialisation, enterprise development and poverty reduction.
In his Independence Day address, Tinubu said the Federal Government’s next phase of economic policy would seek to convert Nigeria’s large and youthful population into a productive force by expanding employment opportunities, supporting businesses and strengthening the country’s industrial base.
The President said the government would deploy Nigeria’s gas resources to support new industries, work with businesses to revive factories in major industrial centres, expand digital connectivity and invest in skills required by employers.
He also pledged continued support for Nigerian businesses through improved infrastructure and access to finance, with the broader objective of increasing domestic production and enabling local companies to compete in international markets.
“I want to see more Nigerians making things,” Tinubu said, adding that he wants Nigerian farms to supply both domestic consumers and local industries, while Nigerian companies increasingly export locally produced goods and young entrepreneurs build technology-driven businesses.
Government acknowledges hardship
The President also acknowledged the economic difficulties confronting millions of Nigerians, noting that many households continue to struggle with the cost of food, education, healthcare and transportation.
He attributed the country’s longstanding economic challenges to decades of low productivity, inadequate infrastructure, limited economic opportunities and institutional weaknesses.
Tinubu said the problems could not be reversed within a single administration but argued that his government could alter the trajectory of the economy.
“We cannot erase in four years what accumulated over generations. But we can change its course,” he said.
The President said the government would therefore pursue economic growth while expanding support for vulnerable households.
Social protection and education financing
Tinubu highlighted the strengthening of direct support programmes for low-income households and efforts to improve the National Social Register so that government assistance reaches people who meet the relevant criteria.
He also cited the Nigerian Education Loan Fund as part of the administration’s strategy to expand access to higher education, particularly for students whose families may be unable to meet tuition and related costs.
The President further pointed to CREDICORP, which provides consumer-credit opportunities for eligible Nigerians seeking to finance assets and essential goods, including vehicles, solar systems and digital devices.
According to Tinubu, these interventions are intended to complement, rather than replace, broader economic measures designed to increase incomes and create productive employment.
“Our objective is not to manage poverty more efficiently. We will defeat it,” he said.
Jobs, industry and domestic production
The President said sustained economic growth would depend on creating millions of productive opportunities across the country.
He identified industrial expansion, agriculture, digital connectivity, skills development and access to finance as key components of the government’s strategy.
Tinubu also said the Federal Government would continue working with state and local governments to strengthen primary healthcare, basic education and other essential public services.
He cited the payment of salaries and pensions, as well as reforms to the national pension system, as measures intended to provide greater support for workers, retirees and vulnerable citizens.
‘The age of prosperity’
Reflecting on the economic reforms undertaken since his administration assumed office, Tinubu argued that the country had now established what he described as stronger foundations for long-term growth.
The age of reform has done its work. Now begins the age of prosperity,” the President said.
He acknowledged that the transition would require time, discipline and sustained economic expansion but expressed confidence that the reforms would ultimately produce broader opportunities for Nigerians.
Tinubu also used the biblical imagery of Nigeria having “passed through our own Red Sea,” urging citizens to focus on the future rather than the difficulties associated with the reform period.
He said his administration’s long-term vision was a Nigeria in which prosperity is broadly shared, children are not constrained by the economic circumstances of their birth, and the country’s natural and human resources translate into improved living standards.
“Our destination is in sight. Our foundations are strong. Our direction is clear. So let us go forward. No looking back,” he said.
The President concluded his Independence Day address by urging Nigerians to maintain faith in the country and its future.
He wished Nigerians a happy Independence Day and prayed for the continued progress of the Federal Republic of Nigeria.
— From the Office of the President / Independence Day Address