President Bola Ahmed Tinubu on Thursday declared that Nigeria has completed the painful phase of economic reforms and is now positioned for inclusive growth and prosperity, as the country marks 66 years of independence from British colonial rule.

In his Independence Day broadcast to the nation, Tinubu said his administration inherited a broken economic foundation that required urgent and difficult surgery to save.

The President noted that while the reforms have been tough on citizens, they were necessary to avert a total economic collapse.

“For too long, Nigeria’s leaders chose morphine while praying for a miracle that never came,” Tinubu said. “We chose to confront the disease rather than merely manage the symptoms.”

Tinubu dismissed calls for the restoration of fuel subsidy, warning that such a move would reverse the gains recorded in the last two years. With political activities building up ahead of the 2027 general elections, the President said Nigerians must be wary of what he described as the deceptive promises of some political actors.

“Now, as certain influential but regressive voices would have us abandon the treatment and return ourselves to the abuse of addictive subsidies, we must resist their siren song,” he said.

Defending his economic policies, the President argued that his reforms did not create hardship but rather exposed and tackled long-standing structural failures. He pointed to key macroeconomic indicators as proof of recovery, noting that the economy recorded over four percent growth in 2026, inflation is on a downward trend, foreign reserves have increased, and the foreign exchange market has achieved relative stability.

According to him, the emergency phase of economic correction is over. “The emergency treatment is over. The foundation has been repaired,” he stated.

The President acknowledged that the cost of living remains high for many households. He said his government is now shifting its focus to policies that directly reduce production and transportation costs, including targeted investments in agriculture, critical infrastructure, and industrialization.

He also reaffirmed his commitment to job creation and enterprise growth, adding that social intervention programmes such as the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation (CREDICORP) will be expanded to support poor and vulnerable Nigerians.

“Our objective is not to manage poverty more efficiently. We will defeat it,” Tinubu said.

The President ended his address on a note of optimism, urging Nigerians to remain united and focused on the future.

“Nigeria has corrected its course. We have passed through our own Red Sea. This is not the time to look back,” he said.