In a passionate national address commemorating Nigeria’s 64th Independence Anniversary, President Bola Ahmed Tinubu acknowledged the pressing economic challenges facing the country while calling for continued patience and resilience from the populace.
Tinubu assured Nigerians that the government’s reforms are beginning to show positive signs, despite the hardships, and outlined the administration’s efforts to address both security and economic issues.
Acknowledging Economic Hardships
Speaking directly to the rising cost of living, President Tinubu recognized the struggles of everyday Nigerians. He said, “Our administration knows that many of you are facing difficulties with the rising cost of living and unemployment.”
Tinubu reaffirmed his administration’s commitment to implementing sustainable reforms aimed at alleviating the nation’s economic pains.
The President urged Nigerians to remain patient, stating that the government is actively addressing fiscal challenges, including stabilizing the economy and managing inflation. He assured the public that the reforms, though painful in the short term, are critical for long-term growth and prosperity.
“We are beginning to see light at the end of the tunnel,” he said.
Reflecting on 64 Years of Independence
Reflecting on Nigeria’s journey since gaining independence in 1960, President Tinubu celebrated the nation’s progress while acknowledging its challenges. He emphasized Nigeria’s resilience in the face of political upheavals, economic crises, and security threats.
“Since independence, our nation has survived many crises that led to the disintegration of other countries. We must never lose sight of how far we have come in forging and holding our country together,” Tinubu remarked, citing Nigeria’s ability to maintain unity despite its diversity and the challenges of a civil war.
He further highlighted the contributions of Nigerians on the global stage, praising the intellectual capacity and entrepreneurial spirit of the country’s citizens.
“Nigerians across the world have shown their can-do spirit, excelling in vocations ranging from science and technology to the arts,” Tinubu said, adding that Nigeria remains a beacon of hope for Africa and the world.
Security Gains and War on Terror
A significant portion of Tinubu’s address was dedicated to the progress made in addressing Nigeria’s long-standing security challenges. The President disclosed that the military had eliminated over 300 Boko Haram and bandit commanders in the past year alone. “Our administration is winning the war on terror and banditry,” he declared, expressing optimism that peace is gradually being restored in the northern regions of the country, which have long been plagued by insurgency.
“Our gallant troops have restored peace to hundreds of communities, and thousands of displaced citizens have been able to return home,” Tinubu added.
He assured Nigerians that the fight against violent extremism would continue until all threats to national security are eliminated.
The President also linked the restoration of security to agricultural productivity, noting that as peace returns to affected areas, farmers can return to their fields, leading to increased food production and a subsequent reduction in food prices.
Economic Reforms and Foreign Investments
Tinubu outlined several economic initiatives aimed at improving Nigeria’s financial health. He revealed that the country had attracted over $30 billion in foreign direct investment over the past year. His administration, he said, is committed to creating an enabling environment for businesses, which will lead to job creation and economic growth.
“We are retooling our economy to serve us better and more sustainably,” the President explained. He highlighted the government’s fiscal policy reforms, including reducing Nigeria’s debt service ratio from 97% to 68% and maintaining the country’s foreign reserves at $37 billion, despite inheriting significant debts.
Among the key reforms, Tinubu mentioned the divestment in Nigeria’s upstream petroleum sector, with the ExxonMobil-Seplat deal set to receive ministerial approval shortly. This, he noted, would boost oil and gas production and create more economic opportunities.
Support for Agriculture and Energy Transition
In response to concerns about rising food prices, the President commended state governors, particularly those from Kebbi, Niger, Jigawa, Kwara, Nasarawa, and the Southwest, for embracing mechanized farming. He emphasized the Federal Government’s commitment to investing in agriculture, highlighting the approval of a local assembly plant for 2,000 John Deere tractors and other farming equipment, which is expected to be completed in six months.
Tinubu also spoke about the country’s energy transition efforts, focusing on the Presidential Initiative on Compressed Natural Gas (CNG) for mass transit. He urged state governments to collaborate with the federal government in acquiring CNG buses, which will provide cheaper transportation options for Nigerians.
Youth Empowerment and the Future
Recognizing the central role of youth in Nigeria’s future, President Tinubu announced the launch of a National Youth Conference. Set to last for 30 days, the conference will bring together young Nigerians from across the country to discuss solutions to challenges such as education, employment, security, and social justice.
“We are creating a pathway for a brighter tomorrow by ensuring that young people’s voices are heard,” Tinubu said, stressing that the government will work closely with the youth to implement the recommendations from the conference.
In addition, the President highlighted several youth-centric programs already underway, including the 3 million Technical Talents program (3MTT) aimed at developing Nigeria’s technical talent base, and the Nigerian Education Loan Fund (NELFUND), which offers affordable loans to students.
Call for Unity and Hope for the Future
As he closed his address, Tinubu called for unity and resilience, emphasizing that the challenges the country faces are temporary. “We are Nigerians—resilient and tenacious. We always prevail and rise above our circumstances,” he said.
Encouraging citizens to believe in the nation’s potential, Tinubu reaffirmed his administration’s commitment to building a better Nigeria.
“With your support, we will cultivate a Nigeria that reflects the aspirations of all its citizens,” he said, urging all Nigerians to join him in the journey toward a brighter and more prosperous future.
