TINUBU DECLARES: ‘THE WORST IS OVER!’ President Assures Nigerians of Economic Relief and Progress at 65th Independence

President Bola Ahmed Tinubu celebrates Nigeria’s 65th Anniversary, listing 12 major economic breakthroughs and calling for ‘All Hands On Deck’ to consolidate the gains of recent, painful reforms.

October 1, 2025

A Time for Hope and Resilience

On Wednesday, 1st October 2025, President Bola Ahmed Tinubu addressed the nation to mark Nigeria’s 65th Independence Anniversary. Speaking to citizens, the President described the milestone age of 65 as being associated with the Sapphire gemstone, which represents loyalty, trust, truth, and wisdom—qualities he said define the Nigerian spirit.

The President acknowledged the difficulties faced by Nigerians due to recent policy changes but delivered a message of assurance, stating emphatically: “The worst is over… Yesterday’s pains are giving way to relief.” He saluted the endurance, support, and understanding of the populace, guaranteeing his commitment to fully justify the confidence reposed in him to steer the nation’s ship.

The core of the address focused on the bold reforms under the Renewed Hope Agenda, which he insisted is “not just a slogan—it is a reality that is already touching lives.” He explained that his administration took the tough but necessary step of ending corrupt fuel subsidies and multiple foreign exchange (FX) rates to reset the country’s economy, thereby channelling trillions of Naira towards crucial sectors like education, healthcare, infrastructure, and social investment programmes.

The President’s message was anchored on the anniversary theme: “All Hands On Deck”—a direct appeal to all Nigerians and every level of government to commit fully to the collective task of national renewal and comprehensive economic growth. He stressed that no tier of government now has an excuse not to pull its weight, given the increased revenue accruing to them since the subsidy removal.

Key Points from President Tinubu’s Independence Day Address

President Tinubu highlighted 12 key economic and social milestones achieved by his administration, underscoring the foundational changes currently underway:

Fiscal Health Restored: The nation’s debt service-to-revenue ratio has been significantly reduced from 97 per cent to below 50 per cent.
Debt Resolution: The infamous “Ways and Means” advances, which threatened economic stability and fuelled inflation, have been paid down.
Non-Oil Revenue Surge: The government achieved its 2025 non-oil revenue target by August, surpassing N20 trillion.
Increased Government Funds: The removal of the petroleum subsidy has freed up trillions of Naira for investment across the economy and at all levels of government (Federal, State, and Local).
Tax Base Expansion: The national tax-to-GDP ratio has risen to 13.5 per cent from less than 10 per cent, with plans for further expansion and tax relief for low-income earners.
Net Exporter Status: Nigeria is now selling more to the world than it is buying, recording a trade surplus for five consecutive quarters—a key shift strengthening the currency and creating jobs.
Domestic Petroleum Refining: For the first time in four decades, the country has made notable advancements in refining Premium Motor Spirit (PMS) domestically.
Social Investment Disbursement: N330 billion has been disbursed under the social investment programme to support eight million vulnerable households.
Solid Minerals Growth: The coal mining sector experienced a dramatic recovery, recording 57.5 per cent growth in the second quarter of 2025.
Infrastructure Expansion: Work is progressing well on legacy projects like the Lagos-Calabar Coastal Highway, the Sokoto-Badagary Highway, and the $3 billion Eastern Rail Project.
Educational Support: The Nigerian Education Loan Fund (NELFUND) was created to provide student loans, benefiting approximately 510,000 students across 228 higher institutions.
Global Confidence: Sovereign credit rating agencies have upgraded their outlook for Nigeria, recognising the improved economic fundamentals, leading to an unprecedented boom in the stock market.