President Bola Tinubu has declared that Nigeria has “turned the corner” towards economic prosperity, assuring citizens that the worst is behind them.
The president made the declaration in his national broadcast on Wednesday, marking Nigeria’s 65th Independence anniversary.
“I am pleased to report that we have finally turned the corner. The worst is over. Yesterday’s pains are giving way to relief,” he said.
Mr Tinubu applauded Nigerians for their resilience and support, reaffirming his administration’s commitment to delivering on its promises.
“I salute your endurance, support, and understanding. I will continue to work for you and justify the confidence you reposed in me to steer the ship of our nation to a safe harbour,” he said.
He recalled that his administration inherited a near-collapsed economy, weakened by decades of fiscal mismanagement and distorted policies.
“Upon assuming office, our administration inherited a near-collapsed economy caused by decades of fiscal policy distortions and misalignment that had impaired real growth,” he said.
Mr Tinubu stated that his government had a choice between continuing the status quo or pursuing bold reforms to rescue the nation.
He stressed that without the tough decisions, Nigeria would have drifted into a deeper economic crisis.
The president noted that within three years, the seeds of reform, including the removal of the corrupt fuel subsidy and the unification of the foreign exchange system, are beginning to bear fruit.
He said these bold steps dismantled incentives that sustained a rent-seeking economy and redirected resources to priority sectors.
Mr Tinubu said his administration had redirected the economy towards a more inclusive path.
His administration, he said, had been channeling money to fund education, healthcare, national security, agriculture, and critical economic infrastructure, such as roads, power, broadband, and social investment programs.
Mr Tinubu called for collective action to accelerate development, warning that Nigeria remained in a race against time to improve its infrastructure.
“We are racing against time. All hands must be on deck to fast-track development and deliver the promise of a greater Nigeria,” he said.
(NAN)