Tinubu Reports Oil Theft Decline and Economic Growth

In his Independence Day address on October 1, 2026, President Bola Ahmed Tinubu reported significant improvements in Nigeria's economy, including a decline in oil theft and enhanced oil production. He noted that Tantita Security Services Nigeria Ltd (TSSNL) has played a crucial role in protecting oil pipelines and curbing crude theft in the Niger Delta.

The President emphasized that when he took office in 2023, Nigeria faced severe economic challenges, including inflation peaking at nearly 35%, strained external reserves, and shaken investor confidence. He stated that the economy has grown by over four percent this year, with both oil and non-oil sectors contributing to this growth.

Tinubu also mentioned that foreign reserves have been rebuilt, the foreign exchange market has stabilized, and 2025 saw Nigeria's highest revenue from non-oil exports, exceeding $6 billion. He acknowledged the difficult reforms undertaken by his administration to reverse negative trends in the economy.