President Bola Tinubu emphasized the need for Nigeria to undergo essential reforms to avoid collapse and ensure future prosperity. He acknowledged that past mistakes and missed opportunities had placed the country in a precarious situation but assured Nigerians that his administration, which began 16 months ago, was committed to reforming the political economy and defense systems.
In his national address on Nigeria's 64th Independence anniversary, Tinubu highlighted several key reforms his government has initiated. These include addressing fiscal misalignments, reducing debt, and attracting over $30 billion in foreign direct investments. He also noted efforts to stabilize the economy and improve security, stating that significant progress had been made in combating terrorism and banditry, with over 300 militant commanders eliminated within a year.
Tinubu commended the Central Bank's monetary policies, which have ensured stability in the foreign exchange market, and announced various initiatives aimed at reducing the cost of living, including agricultural production programs and plans for more affordable public transportation through the adoption of Compressed Natural Gas (CNG) for mass transit.
The President reiterated his commitment to Local Government autonomy and promised to tackle rising living costs. He also praised the resilience of the Nigerian people and called for unity in overcoming the country's challenges. Tinubu concluded by announcing upcoming initiatives for the youth, including a National Youth Conference aimed at addressing challenges and opportunities for Nigeria’s younger generation.
