We can’t fix generational problems in four years – Tinubu

ABUJA — President Bola Ahmed Tinubu has said his administration cannot erase in four years the economic and social problems that accumulated in Nigeria over several generations, but can change the country’s trajectory.

Tinubu stated this in his Independence Day address to Nigerians on Thursday, October 1, 2026, marking the 66th anniversary of Nigeria’s independence.

The President said Nigeria had endured decades of economic crises, insecurity, military rule and political upheaval, arguing that successive governments had postponed difficult decisions and allowed deep economic distortions to persist.

According to him, his administration chose to confront the country’s economic challenges through reforms, despite the hardship they initially caused.

He likened the Nigerian economy before the reforms to a patient diagnosed with cancer, saying previous administrations had treated the symptoms rather than addressing the underlying problems.

“By 2023, poverty was rising, and hope was nearly gone. The country’s situation was darker than ever. We had no choice but to act,” Tinubu said.

He added: “Our reforms did not create the weaknesses in our economy. They confronted them.”

Tinubu said three and a half years into his administration, Nigeria’s economic outlook had improved, citing economic growth of more than four per cent, declining oil theft, lower inflation, improved foreign reserves and a more stable foreign exchange market.

He also said Nigeria recorded its highest-ever non-oil export revenue in 2025, exceeding $6 billion.

The President declared that the administration had moved from what he described as the “age of reform” to an “age of prosperity”, with the priority now being to reduce the cost of living and promote widespread economic opportunities.

“The emergency treatment is over. The foundation has been repaired. The central economic task before us has changed,” he said.

“For three years, our overriding purpose was to correct our nation’s course. Now, our purpose is simple: shared and widespread prosperity.”

Tinubu said the government would focus on lowering the cost of producing and transporting goods by expanding mechanised irrigation and dry-season farming, improving access to seeds and fertiliser, increasing mechanisation and investing in storage and transportation.

He said ongoing investments in roads, railways and ports were aimed at connecting farms and factories to markets while reducing the cost of doing business.

The President also identified job creation, enterprise development and industrial growth as priorities, saying the government would deploy Nigeria’s gas resources to power industries, support the revival of factories, expand digital connectivity and invest in skills required by employers.

“I want to see more Nigerians making things. I want to see more Nigerian farms feeding our cities and supplying our factories. I want to see Nigerian businesses selling Nigerian goods to the whole world,” he said.

On poverty, Tinubu acknowledged that millions of Nigerians were still struggling with food, education, healthcare and transportation costs.

He said the challenges facing vulnerable Nigerians predated his administration and were the accumulated consequences of decades of low productivity, inadequate infrastructure and limited opportunities.

“We cannot erase in four years what accumulated over generations. But we can change its course,” he said.

The President said his administration was strengthening direct support for poor households and improving the National Social Register to ensure that assistance reached those who needed it.

He also highlighted the Nigerian Education Loan Fund, saying it was designed to ensure that students from low-income families could pursue higher education despite financial constraints.

Tinubu further cited the Consumer Credit Corporation (CREDICORP), saying it was providing working Nigerians with access to credit to acquire vehicles, solar systems, digital devices and other essential assets.

He said the Federal Government would continue working with state and local governments to strengthen primary healthcare, basic education and other essential public services.

Tinubu also said his administration had paid salaries and pensions on time and in full since 2023 and had reformed the national pension programme to benefit retirees and vulnerable Nigerians.

“These programmes are not substitutes for prosperity. They are a bridge to aid our nation’s citizens on their path towards it,” he said.

“Our objective is not to manage poverty more efficiently. We will defeat it.”

He acknowledged that achieving the goal would take time and require sustained economic growth and the creation of millions of productive opportunities.

The President said Nigeria was now pursuing those goals from what he described as a position of economic strength, following the reforms undertaken by his administration.

“The age of reform has done its work. Now begins the age of prosperity,” he declared.

Tinubu urged Nigerians to remain united and look towards the future with renewed hope, saying the country had “corrected its course” and should not return to the challenges that necessitated the reforms.

“Nigeria has corrected its course. We have passed through our own Red Sea. This is not the time to look back. Let us go forward together, with faith in ourselves, faith in our country, and faith that the sacrifices we have made will yield their reward,” he said.

He described the “Promised Land” as a Nigeria of abundance and opportunity, where prosperity would be broadly shared and every child could aspire beyond the circumstances of birth.

“Our destination is in sight. Our foundations are strong. Our direction is clear. So let us go forward. No looking back,” Tinubu said.

He wished Nigerians a happy Independence Day and prayed for the continued progress of the Federal Republic of Nigeria.

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