Tinubu Declares Nigeria's Economic Turning Point in 2026

In his Independence Day broadcast, President Bola Ahmed Tinubu stated that Nigeria has reached a turning point in its economic journey, highlighting improvements such as over 4% economic growth in 2026, contributions from both oil and non-oil sectors, reduced oil theft, and a significant decline in inflation. He noted that foreign reserves have been rebuilt, the foreign exchange market has stabilized, and Nigeria achieved more than $6 billion in non-oil export revenue in 2025, marking the highest in the country's history.

Tinubu declared that the phase of emergency economic treatment is over, shifting the government's focus from correcting economic issues to achieving "shared and widespread prosperity." He outlined plans to enhance the lives of Nigerians through affordable food, reliable electricity, and improved infrastructure. Acknowledging ongoing struggles faced by many Nigerians, he committed to strengthening social interventions while pursuing long-term economic growth, asserting that the government aims to defeat poverty rather than manage it.