Tinubu Reports Economic Recovery with Decline in Oil Theft

In his October 1, 2026, Independence Day broadcast, President Bola Ahmed Tinubu announced a substantial decline in oil theft and inflation, which he cited as key indicators of Nigeria's economic recovery since his administration began in 2023. He reported that the economy grew by over four percent in 2026, driven by contributions from both the oil and non-oil sectors.

Tinubu acknowledged the hardships faced by Nigerians during the reform process, which included significant economic reforms such as changes to the foreign exchange market, the removal of petrol subsidies, and tighter monetary policies. He highlighted the role of Tantita Security Services Nigeria Limited (TSSNL) in securing oil infrastructure in the Niger Delta, contributing to the reduction in oil theft.

Tinubu also mentioned that foreign reserves had improved and the foreign exchange market stabilized. Despite these advancements, he emphasized that reducing the cost of living remains a priority for his administration, alongside continued cooperation with state and local governments to enhance public services.