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.
2.
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.
3. 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.
4.
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.
5.
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.
6.
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.
7.
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.
8.
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.
9.
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.
10. 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.
11. 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.
12. 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:
13. 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:
14. 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.
15. 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.
16. YouthCred,
which I promised last June, is a reality, with tens of thousands of NYSC
members now active beneficiaries of consumer credit for resettlement.
17. 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
18. 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.
19. 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.
20. 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.
21. Finally,
let all hands be on deck. Let us believe, once more, in the boundless potential
of our great nation.
22. With
Almighty God on our side, I can assure you that the dawn of a new, prosperous,
self-reliant Nigeria is here.
23. 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
