NATIONAL BROADCAST BY HIS EXCELLENCY BOLA AHNED
TINUBU, GCFR, PRESIDENT OF THE FEDERAL REPUBLIC OF NIGERIA ON
THE 65TH INDEPENDENCE ANNIVERSARY OF NIGERIA,
OCTOBER 1, 2025
Fellow Nigerians,
Today marks the 65th anniversary of our great nation’s Independence. As we
reflect on the significance of this day and our journey of nationhood since
October 1, 1960, when our founding fathers accepted the instruments of
self-government from colonial rule, let us remember their sacrifice, devotion,
and grand dream of a strong, prosperous, and united Nigeria that will lead
Africa and be the beacon of light to the rest of the world.
Our founding heroes and heroines—Herbert Macaulay, Dr
Nnamdi Azikiwe, Sir Abubakar Tafawa Balewa, Chief Obafemi Awolowo, Sir Ahmadu
Bello, Margaret Ekpo, Anthony Enahoro, Ladoke Akintola, Michael Okpara, Aminu
Kano, Funmilayo Ransome-Kuti, and other nationalists—believed it was Nigeria’s
manifest destiny to lead the entire black race as the largest black nation on
earth.
For decades, the promise of our Independence has been
tested by profound social, economic, and political challenges, and we have
survived. While we may not have achieved all the lofty dreams of our
forebearers, we have not strayed too far from them. In 65 years since our
Independence, we have made tremendous progress in economic growth, social
cohesion, and physical development. Our economy has experienced significant
growth since 1960.
Although, it is much easier for those whose vocation
is to focus solely on what ought to be, we must recognise and celebrate our
significant progress. Nigerians today have access to better education and
healthcare than in 1960. At Independence, Nigeria had 120 secondary schools
with a student population of about 130,000. Available data indicate that, as of
year 2024, there were more than 23,000 secondary schools in our country. At
Independence, we had only the University of Ibadan and Yaba College of Technology
as the two tertiary institutions in Nigeria. By the end of last year, there
were 274 universities, 183 Polytechnics, and 236 Colleges of Education in
Nigeria, comprising Federal, State, and private institutions. We have
experienced a significant surge in growth across every sector of our national
life since Independence – in healthcare, infrastructure, financial services,
manufacturing, telecommunications, information technology, aviation and
defence, among others.
Our country has experienced both the good and the bad
times in its 65 years of nationhood, as is normal for every nation and its
people. We fought a bitter and avoidable civil war, experienced military
dictatorships, and lived through major political crises. In all these, we
weathered every storm and overcame every challenge with courage, grit, and
uncommon determination. While our system and ties that bind us are sometimes
stretched by insidious forces opposed to our values and ways of life, we
continue to strive to build a more perfect union where every Nigerian can find
better accommodation and find purpose and fulfilment.
Fellow Compatriots, this is the third time I will
address you on our independence anniversary since I assumed office as your
President on May 29, 2023. In the last 28 months of my administration, like our
founding fathers and leaders who came before me, I have committed myself
irrevocably to the unfinished nation-building business.
Upon assuming office, our administration inherited a
near-collapsed economy caused by decades of fiscal policy distortions and
misalignment that had impaired real growth. As a new administration, we faced a
simple choice: continue business as usual and watch our nation drift, or embark
on a courageous, fundamental reform path. We chose the path of reform. We chose
the path of tomorrow over the comfort of today. Less than three years later,
the seeds of those difficult but necessary decisions are bearing fruit.
In resetting our country for sustainable growth, we
ended the corrupt fuel subsidies and multiple foreign exchange rates that
created massive incentives for a rentier economy, benefiting only a tiny
minority. At the same time, the masses received little or nothing from our
Commonwealth. Our administration has redirected the economy towards a more
inclusive path, channelling money to fund education, healthcare, national
security, agriculture, and critical economic infrastructure, such as roads,
power, broadband, and social investment programmes. These initiatives will
generally improve Nigerians’ quality of life. As a result of the tough
decisions we made, the Federal and State governments, including Local
Governments, now have more resources to take care of the people at the lower
level of the ladder, to address our development challenges.
Fellow Nigerians, we are racing against time. We must
build the roads we need, repair the ones that have become decrepit, and
construct the schools our children will attend and the hospitals that will care
for our people. We have to plan for the generations that will come after us. We
do not have enough electricity to power our industries and homes today, or the
resources to repair our deteriorating roads, build seaports, railroads, and
international airports comparable to the best in the world, because we failed
to make the necessary investments decades ago. Our administration is setting
things right.
I am pleased to report that we have finally turned the
corner. The worst is over, I say. Yesterday’s pains are giving way to relief. I
salute your endurance, support, and understanding. I will continue to work for
you and justify the confidence you reposed in me to steer the ship of our
nation to a safe harbour.
Under our leadership, our economy is recovering fast,
and the reforms we started over two years ago are delivering tangible results.
The second quarter 2025 Gross Domestic Product grew by 4.23%—Nigeria’s fastest
pace in four years—and outpaced the 3.4 per cent projected by the International
Monetary Fund. Inflation declined to 20.12% in August 2025, the lowest level in
three years. The administration is working diligently to boost agricultural
production and ensure food security, reducing food costs.
In the last two years of our administration, we have
achieved 12 remarkable economic milestones as a result of the implementation of
our sound fiscal and monetary policies:
i. We have attained a record-breaking increase in
non-oil revenue, achieving the 2025 target by August with over N20 trillion. In
September 2025 alone, we raised N3.65 trillion, 411% higher than the amount
raised in May 2023.
ii. We have restored Fiscal Health: Our debt
service-to-revenue ratio has been significantly reduced from 97% to below 50%.
We have paid down the infamous “Ways and Means” advances that threatened our
economic stability and triggered inflation. Following the removal of the
corrupt petroleum subsidy, we have freed up trillions of Naira for targeted
investment in the real economy and social programmes for the most vulnerable,
as well as all tiers of government.
iii. We have a stronger foreign Reserve position than
three years ago. Our external reserves increased to $42.03 billion this
September—the highest since 2019.
iv. Our tax-to-GDP ratio has risen to 13.5 per cent
from less than 10 per cent. The ratio is expected to increase further when the
new tax law takes effect in January. The tax law is not about increasing the
burden on existing taxpayers but about expanding the base to build the Nigeria
we deserve and providing tax relief to low-income earners.
v. We are now a Net Exporter: Nigeria has recorded a
trade surplus for five consecutive quarters. We are now selling more to the
world than we are buying, a fundamental shift that strengthens our currency and
creates jobs at home. Nigeria’s trade surplus increased by 44.3% in Q2 2025 to
?7.46 trillion ($4.74 billion), the largest in about three years. Goods
manufactured in Nigeria and exported jumped by 173%. Non-oil exports, as a
component of our export trade, now represent 48 per cent, compared to oil exports,
which account for 52 per cent. This signals that we are diversifying our
economy and foreign exchange sources outside oil and gas.
vi. Oil production rebounded to 1.68 million barrels
per day from barely one million in May 2023. The increase occurred due to
improved security, new investments, and better stakeholder management in the
Niger Delta. Furthermore, the country has made notable advancements by refining
PMS domestically for the first time in four decades. It has also established
itself as the continent’s leading exporter of aviation fuel.
vii. The Naira has stabilised from the turbulence and
volatility witnessed in 2023 and 2024. The gap between the official rate and
the unofficial market has reduced substantially, following FX reforms and fresh
capital and remittance inflows. The multiple exchange rates, which fostered
corruption and arbitrage, are now part of history. Additionally, our currency
rate against the dollar is no longer determined by fluctuations in crude oil
prices.
viii. Under the social investment programme to support
poor households and vulnerable Nigerians, N330 billion has been disbursed to
eight million households, many of whom have received either one or two out of
the three tranches of the N25,000 each.
ix. Coal mining recovered dramatically from a 22%
decline in Q1 to 57.5% growth in Q2, becoming one of Nigeria’s fastest-growing
sectors. The solid mineral sector is now pivotal in our economy, encouraging
value-added production of minerals extracted from our soil.
x. The administration is expanding transport
infrastructure across the country, covering rail, roads, airports, and
seaports. Rail and water transport grew by over 40% and 27%, respectively. The
284-kilometre Kano-Kastina-Maradi Standard Gauge rail project and the
Kaduna-Kano rail line are nearing completion. Work is progressing well on the
legacy Lagos-Calabar Coastal Highway and Sokoto-Badagry Highway. The Federal
Executive Council recently approved $3 billion to complete the Eastern Rail
Project.
xi. The world is taking notice of our efforts.
Sovereign credit rating agencies have upgraded their outlook for Nigeria,
recognising our improved economic fundamentals. Our stock market is
experiencing an unprecedented boom, rising from an all-share index of 55,000
points in May 2003 to 142,000 points as of September 26, 2025.
xii. At its last MPC meeting, the Central Bank slashed
interest rates for the first time in five years, expressing confidence in our
country’s macroeconomic stability.
SECURITY:
We are working diligently to enhance national
security, ensuring our economy experiences improved growth and performance. The
officers and men of our armed forces and other security agencies are working
tirelessly and making significant sacrifices to keep us safe. They are winning
the war against terrorism, banditry and other violent crimes. We see their
victories in their blood and sweat to stamp out Boko Haram Terror in
North-East, IPOB/ESN terror in South East and banditry and kidnapping. We must
continue to celebrate their gallantry and salute their courage on behalf of a
grateful nation. Peace has returned to hundreds of our liberated communities in
North-West and North-East, and thousands of our people have returned safely to
their homes.
YOUTH:
I have a message for our young people. You are the
future and the greatest assets of this blessed country. You must continue to
dream big, innovate, and conquer more territories in your various fields of
science, technology, sports, and the art and creative sector. Our
administration, through policies and funding, will continue to give you wings
to fly sky-high. We created NELFUND to support students with loans for their
educational pursuits. Approximately 510,000 students across 36 states and the
FCT have benefited from this initiative, covering 228 higher institutions. As
of September 10, the total loan disbursed was N99.5 billion, while the upkeep
allowance stood at N44.7 billion.
Credicorp, another initiative of our administration,
has granted 153,000 Nigerians N30 billion affordable loans for vehicles, solar
energy, home upgrades, digital devices, and more.
YouthCred, which I promised last June, is a reality,
with tens of thousands of NYSC members now active beneficiaries of consumer
credit for resettlement.
Under our Renewed Hope Agenda, we promised to build a
Nigeria where every young person, regardless of background, has an equitable
opportunity to access a better future—thus, the Investment in Digital and
Creative Enterprises (iDICE) programme. The Bank of Industry is driving the
programme, in collaboration with the African Development Bank, the French
Development Agency, and the Islamic Development Bank. This initiative is at the
cusp of implementation. Over the last two years, we have collaborated with our
partners to launch the programme, supporting our young builders and dreamers in
the technology and creative sectors.
A MESSAGE OF HOPE
Fellow Nigerians, I have always candidly acknowledged
that these reforms have come with some temporary pains. The biting effects of
inflation and the rising cost of living remain a significant concern to our
government. However, the alternative of allowing our country to descend into
economic chaos or bankruptcy was not an option. Our macro-economic progress has
proven that our sacrifices have not been in vain. Together, we are laying a new
foundation cast in concrete, not on quicksand.
The accurate measure of our success will not be
limited to economic statistics alone, but rather in the food on our families’
tables, the quality of education our children receive, the electricity in our
homes, and the security in our communities. Let me assure you of our
administration’s determination to ensure that the resources we have saved and
the stability we have built are channelled into these critical areas. Today,
the governors at the state level, and the local government autonomy are
yielding more developments.
Therefore, on this 65th Anniversary of Our
Independence, my message is hope and a call to action. The federal government
will continue to do its part to fix the plumbing in our economy. Now, we must
all turn on the taps of productivity, innovation, and enterprise, just like the
Ministry of Interior has done with our travel passports, by quickening the
processing. In this regard, I urge the sub-national entities to join us in
nation-building. Let us be a nation of producers, not just consumers. Let us farm
our land and build factories to process our produce. Let us patronise
‘Made-in-Nigeria’ goods. I say Nigeria first. Let us pay our taxes.
Finally, let all hands be on deck. Let us believe,
once more, in the boundless potential of our great nation.
With Almighty God on our side, I can assure you that
the dawn of a new, prosperous, self-reliant Nigeria is here.
Happy 65th Independence Anniversary, and may God
continue to bless the Federal Republic of Nigeria.
Amen.
Bola Ahmed Tinubu, GCFR
President and Commander-In-Chief of the Armed Forces
of the Federal Republic of Nigeria,
Presidential Villa,
Abuja.
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