Tinubu: Economic Reforms Are the Cure, Not the Cause of Nigeria's Woes - FIRST AWARENESS

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Thursday, October 1, 2026

Tinubu: Economic Reforms Are the Cure, Not the Cause of Nigeria's Woes

In his Independence Day address on October 1, 2026, President Bola Ahmed Tinubu defended his administration's economic reforms, asserting they did not create Nigeria's economic troubles but aimed to address longstanding structural issues.

Tinubu highlighted that Nigeria had delayed confronting difficult economic decisions, allowing deep-rooted distortions to fester. "By 2023, poverty was rising, and hope was nearly gone," he stated, likening the country’s dire situation to a patient needing painful treatment for cancer, rather than merely managing symptoms.

Upon taking office, Tinubu's administration resolved to tackle these deep-seated problems despite the hardships the reforms brought. "The reforms that followed were difficult. The side effects were real. Yet, we must never confuse the medicine with the disease," he emphasized.

He rejected calls for a return to “addictive subsidies,” reminding Nigerians of the reasons behind the reforms and the progress achieved. Tinubu cited improvements in economic growth, reduced inflation, and increased foreign reserves, claiming that international observers recognized these changes.

Looking ahead, the President outlined his government’s commitment to reducing living costs by enhancing agricultural practices, improving infrastructure, and fostering job creation. "We want more Nigerians producing goods locally, supplying cities and factories, and exporting to international markets," he said.

While acknowledging that many Nigerians continue to struggle with basic needs, he attributed these challenges to decades of systemic issues rather than recent reforms. "We cannot erase in four years what accumulated over generations, but we can change its course," he asserted.

Tinubu emphasized the importance of social support programs, including the Nigerian Education Loan Fund and the Consumer Credit Corporation, aimed at helping low-income families and providing essential resources.

He reiterated his administration's commitment to timely salary and pension payments, while also reforming the pension system to benefit retirees. "Our objective is not to manage poverty more efficiently. We will defeat it," he declared.

The President acknowledged that achieving these goals would require time, discipline, and sustained economic growth. However, he expressed optimism about Nigeria's future, stating, "The age of reform has done its work. Now begins the age of prosperity."

He urged Nigerians to look forward with renewed hope, declaring, "Nigeria has corrected its course. We have passed through our own Red Sea." Tinubu painted a vision of a prosperous Nigeria, where opportunities are abundant and every child can dream beyond their circumstances.

"Our destination is in sight. Our foundations are strong. Our direction is clear. So let us go forward. No looking back," he concluded, inviting all Nigerians to join him in this journey toward a brighter future.

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