Tinubu: Nigeria Has Passed Through Its Red Sea, Prosperity Is Next.

President Bola Ahmed Tinubu has declared that Nigeria has moved beyond the most difficult phase of his administration’s economic reforms, saying the country is now entering an era focused on shared prosperity and improved living standards.

In his Independence Day address to Nigerians, themed “From Reforms to Prosperity,” the President said the government had taken difficult decisions to address longstanding economic challenges and correct what he described as deep distortions in the nation’s economy.

Tinubu said the reforms had begun to produce positive economic indicators, including economic growth of more than four per cent, lower inflation from its peak, improved foreign reserves and greater stability in the foreign exchange market. He also stated that Nigeria recorded more than $6 billion in non-oil export revenue in 2025.

According to him, the next phase of the government’s agenda will focus on reducing the cost of living, expanding agricultural production, improving infrastructure, supporting industries and creating more productive jobs for Nigerians.

The President highlighted investments in mechanised farming, irrigation, storage, transportation, roads, railways and ports as part of efforts to reduce production and distribution costs and make goods more affordable.

He also said the administration would expand digital connectivity, develop job relevant skills, provide businesses with access to infrastructure and finance, and promote the growth of Nigerian industries and enterprises.

On social welfare, Tinubu said the government would continue strengthening support for vulnerable households through initiatives including the National Social Register, Nigerian Education Loan Fund and CREDICORP, while improving access to primary healthcare and basic education.

The President acknowledged that many Nigerians continue to face economic difficulties, but maintained that the challenges accumulated over decades and could not be resolved within a short period.

Tinubu described the country’s current position as a turning point, declaring that the government had “passed through our own Red Sea” and urging Nigerians to look forward rather than backward.

He said the ultimate goal was to build a Nigeria where prosperity is widely shared, opportunities are accessible and citizens can enjoy a better quality of life.