Bola Ahmed Tinubu has said the African country has been tested by political crises and economic hardship since its freedom from British rule in 1960<\/p>\n
Nigerian President Bola Ahmed Tinubu has marked his country\u2019s 65th Independence Day with a speech that combined tributes to founding leaders with a report on reforms he said has pulled Africa\u2019s most populous nation back from economic collapse.
\nSpeaking from the capital, Abuja on Wednesday, Tinubu said policies rolled out since he took office in May 2023 \u2013 including the scrapping of fuel subsidies and the devaluation of the naira \u2013 were now delivering results. The reforms had been the source of widespread protests over the rising cost of living in the West African nation.
\n\u201cOur administration inherited a near-collapsed economy caused by decades of fiscal policy distortions and misalignment that had impaired real growth,\u201d the president said.
\nHe added that his government chose reforms over \u201cbusiness as usual,\u201d and prioritized long-term stability.
\n\u201cLess than three years later… I am pleased to report that we have finally turned the corner. The worst is over,\u201d Tinubu stated.<\/p>\n
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He said the economy grew by 4.23% in the second quarter of 2025 while inflation fell to 20.12% in August, the lowest in three years. He cited higher oil output, record non-oil revenues, and a trade surplus as signs the country was diversifying beyond crude exports.
\nNigeria gained independence on October 1, 1960, after decades under British colonial rule that historians widely describe as a period of economic exploitation, resource extraction, and the suppression of nationalist movements. It endured military dictatorships and a brutal civil war before returning to civilian rule in 1999.<\/p>\n
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On Wednesday, Tinubu acknowledged that Nigeria\u2019s independence has been tested by political crises and economic hardship. He said Abuja has not achieved all the dreams of Nigeria\u2019s founding leaders, but it has not \u201cstrayed too far from them.\u201d
\n\u201cIn the last 28 months of my administration\u2026 I have committed myself irrevocably to the unfinished nation-building business,\u201d he stated.
\nTinubu\u2019s government has sought to diversify Nigeria\u2019s global partnerships and address the country\u2019s long-running economic challenges. In January, it became a BRICS partner state, a move officials believe could strengthen trade and investment.<\/p>\n
READ MORE: Why does Africa need BRICS?<\/p>\n","protected":false},"excerpt":{"rendered":"
Bola Ahmed Tinubu has said the African country has been tested by political crises and economic hardship since its freedom from British rule in 1960 Nigerian President Bola Ahmed Tinubu…<\/p>\n","protected":false},"author":1,"featured_media":19495,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[4,6,3],"tags":[],"class_list":["post-19494","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-environment","category-politics"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t