Tinubu Defends Economic Reforms on 65th Independence

On Nigeria's 65th Independence Day, President Bola Tinubu said he inherited a near-collapsed economy, defended reforms including ending fuel subsidies and unifying foreign-exchange rates, and declared “the worst is over,” citing second-quarter GDP growth of about 4.23%, August inflation near 20.12%, five consecutive quarters of trade surpluses, oil output around 1.68 million barrels per day and external reserves near $42.03 billion as signs of recovery. He said savings were redirected into infrastructure and social programmes and noted the government disbursed 330 billion naira to eight million vulnerable households while expanding rail, roads, airports and seaports and boosting resources for states and local governments. Opposition figures, including Atiku Abubakar’s camp, dismissed the address as rhetoric out of step with soaring food prices, widespread hunger, insecurity and failing public services. International and humanitarian indicators — including an IMF warning about persistent inflation and rising poverty (more than 129 million below the poverty line) and reported reductions in WFP nutrition services in parts of the country — underscore ongoing challenges. Regional and civil-society voices offered guarded optimism, while religious and state leaders urged unity and national cohesion. A separate praise piece highlighted House Speaker Abbas Tajudeen as a principled legislator focused on economic diversification, oversight and tangible community projects, underscoring the wider split between government optimism and public skepticism.