Nigerian President Bola Tinubu has used his final Independence Day address before his reelection bid to defend his administration’s economic record, saying the country has moved beyond major challenges since he took office in 2023.
Table Of Content
Tinubu said Nigeria’s economy had expanded by over four per cent this year, with both the oil and non-oil sectors contributing to the growth. He also pointed to what he described as a decline in oil theft and a substantial reduction in inflation from its peak.
The president said the progress was “undeniable” and argued that Nigerians would soon feel the benefits of the changes. He also set out a vision of a country where young people could find work.
Reforms brought investment and inflation
Tinubu’s administration began with the removal of Nigeria’s decades-old fuel subsidy at his inauguration in May 2023. It later allowed the naira to float by ending the country’s distorted foreign-exchange rate, a move that led to a major devaluation.
The reforms were welcomed by investors, but they were also followed by soaring inflation. Tinubu’s government maintains that the measures helped save the economy and increased the funds available to the state.
The source report does not independently verify the president’s growth, inflation or oil-theft figures, and it does not provide specific rates for the changes he cited.
Security and hardship remain concerns
The economic message comes as Nigeria continues to face serious security problems. Mass kidnappings and killings have persisted, with violence spreading into areas that had previously been spared from such attacks.
The country is also described as facing widespread poverty and hunger, while economic hardship continues to affect citizens. Tinubu remains unpopular among young Nigerians, although no polling figures or other measurements were provided in the report.
These pressures are expected to remain central to the political contest as the president seeks another term. Tinubu is scheduled to run for reelection on January 16, 2027.
Opposition contest
Tinubu faces 18 opposition candidates, but analysts cited in the report expect the contest to develop into a three-man race involving the president, former vice president Atiku Abubakar and former state governor Peter Obi.
Atiku and Obi were among the leading challengers Tinubu defeated in the 2023 election. Obi’s campaign in that contest drew significant support from young Nigerians and widened the field.
Tinubu’s address therefore combined a case for continuity with promises that the gains from his reforms would eventually reach households and create more opportunities for young people. The continuing security crisis, inflation and public dissatisfaction will test that argument ahead of the 2027 campaign.
No Comment! Be the first one.