President Bola Tinubu declares Nigeria’s economy has turned the corner, citing 4.23% GDP growth, reduced inflation, stronger reserves, and record revenue in his Independence Day speech
65th Independence Anniversary: ‘The Worst is Over’ as Nigeria Achieves Fastest Economic Growth in Four Years – Tinubu
President Bola Ahmed Tinubu has assured Nigerians that the country’s economy is on a strong path of recovery, boldly declaring during his Independence Day speech that “the worst is over.”
Delivering his address at the Presidential Villa in Abuja on Nigeria’s 65th Independence anniversary, Tinubu highlighted sweeping economic reforms and their results.
“In less than three years of reforms, we have turned the corner,” the President said. “Yesterday’s pains are giving way to relief. Our sacrifices have not been in vain. The seeds of those difficult but necessary decisions are now bearing fruit.”
According to him, Nigeria’s Gross Domestic Product (GDP) grew by 4.23% in Q2 2025—the fastest pace in four years and higher than the IMF projection of 3.4%. He also announced that inflation fell to 20.12% in August 2025, the lowest in three years.
Other achievements include:
- ₦20 trillion non-oil revenue collected by August 2025, hitting the year’s target four months early.
- ₦3.65 trillion revenue in September alone, a 411% rise compared to May 2023.
- Foreign reserves climbing to $42.03 billion, the highest since 2019.
- A ₦7.46 trillion trade surplus in Q2 2025, with exports of manufactured goods up by 173%.
“Our nation has moved from being import-dependent to a net exporter,” Tinubu boasted, stressing that Nigeria is diversifying beyond oil.
He credited the removal of fuel subsidies, forex reforms, and stronger fiscal policies for the turnaround. “The PDP broke the economy; we are fixing it,” he added. Read More
