Tinubu Says Economic Reforms Tackled Nigeria’s Long-Standing Weaknesses

President Bola Tinubu says Nigeria’s economy was in a deep crisis when he took office in 2023, comparing the country to a cancer patient facing painful but necessary treatment. In his Independence Day address, he said his administration chose to confront structural problems rather than sustain what he described as inefficient arrangements and subsidies. He acknowledged that the reforms had painful side effects but argued that they did not create the economy’s underlying weaknesses. Tinubu said the economy has grown by more than 4 per cent this year, while oil theft has declined, inflation has eased from its peak, foreign reserves have improved and the foreign exchange market has stabilised. He also said non-oil exports exceeded $6 billion in 2025.

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