President Bola Ahmed Tinubu has defended the economic reforms introduced by his administration, saying difficult decisions are necessary to address Nigeria’s longstanding economic challenges and achieve prosperity.
Tinubu stated this in his Independence Day address to Nigerians on Thursday as the country marked its 66th Independence Anniversary under the theme, “From Reforms to Prosperity.”
The President said Nigeria’s journey since independence had not been easy, with the country experiencing war, military rule, economic crises, insecurity and political upheavals.
He, however, said the resilience of Nigerians had sustained the country through difficult periods.
Tinubu said independence came with a broader promise of freedom, dignity and opportunity, stressing that successive generations had a responsibility to fulfil that promise.
“Independence carried a larger promise: that Nigerians would have the freedom to shape their own destiny and build a nation capable of providing opportunity, dignity and a better life for its people,” he said.
The President said Nigeria had for too long avoided difficult economic decisions, allowing structural weaknesses and economic distortions to worsen.
He said the situation inherited by his administration in 2023 required decisive action, despite the hardship that could accompany such reforms.
Using a medical analogy, Tinubu compared Nigeria’s economic challenges to a serious illness requiring difficult treatment rather than temporary relief.
“For too long, Nigeria’s leaders chose morphine while praying for a miracle that never came,” he said.
According to him, governments had continued to spend heavily on inefficient arrangements while postponing difficult decisions and passing the consequences to future generations.
Tinubu said his administration chose to confront the underlying problems through reforms, acknowledging that the process had brought real difficulties for Nigerians.
“When this Administration assumed office, we resolved to do things differently. We chose to excise the cancer. The reforms that followed were difficult. The side effects were real. Yet, we must never confuse the medicine with the disease,” he said.
The President maintained that the reforms did not create Nigeria’s economic weaknesses but were introduced to tackle them.
“Our reforms did not create the weaknesses in our economy. They confronted them,” Tinubu said.
He also urged Nigerians to resist calls to abandon the reforms and return to what he described as unsustainable subsidy arrangements.
The President said the country must remain focused on consolidating the reforms and building an economy capable of creating greater opportunities, improved livelihoods and shared prosperity for Nigerians.