Tinubu: Nigeria Has Passed Through Its Own Red Sea, Prosperity Is Next

President Bola Ahmed Tinubu has declared that Nigeria has “passed through its own Red Sea” after three years of economic reforms, assuring Nigerians the country is entering an era of prosperity.

Tinubu made the declaration in his Independence Day address to Nigerians on Thursday, October 1, 2026, with the theme, “From Reforms to Prosperity.”

The President said his administration inherited an economy burdened by deep structural weaknesses, rising poverty and unsustainable arrangements, insisting that difficult reforms were necessary to correct the country’s economic direction.

According to him, the reforms, although painful, have begun to produce measurable economic improvements. Three and a half years later, the evidence that Nigeria’s economic outlook has improved is undeniable,” Tinubu said.

He listed economic growth of over four per cent, reduced oil theft, declining inflation from its peak, rebuilt foreign reserves, greater stability in the foreign exchange market and record non-oil export revenue exceeding $6 billion in 2025 as evidence of progress.

Tinubu said the focus of his administration had now shifted from economic stabilisation to “shared and widespread prosperity.”

“The emergency treatment is over. The foundation has been repaired. The central economic task before us has changed. For three years, our overriding purpose was to correct our nation’s course.

“Now, our purpose is simple: shared and widespread prosperity,” he said.

The President said his administration would prioritise reducing the cost of living by lowering the cost of producing and transporting goods, while expanding mechanised agriculture, irrigation, access to seeds and fertiliser, storage facilities and transportation infrastructure.

He also pledged greater investment in roads, railways and ports to connect farms and factories to markets.

On employment, Tinubu said jobs, enterprise and industrial growth would remain at the centre of government policy, with emphasis on gas-powered industries, reviving factories, expanding digital connectivity and providing Nigerians with relevant skills and access to finance.

“I want to see more Nigerians making things. I want to see more Nigerian farms feeding our cities and supplying our factories. I want to see Nigerian businesses selling Nigerian goods to the whole world,” he said.

The President also acknowledged that millions of Nigerians continue to struggle with food, education, healthcare and transportation costs.

He said the government would strengthen direct support for vulnerable households and improve the National Social Register to ensure assistance reaches those who genuinely need it.

Tinubu further highlighted the Nigerian Education Loan Fund, CREDICORP and investments in primary healthcare and basic education as measures aimed at supporting citizens while the broader economy grows.

He maintained that the objective of the administration was not merely to manage poverty but to ultimately defeat it through sustained economic growth and the creation of millions of productive opportunities.

Tinubu urged Nigerians not to look back but to remain focused on building a prosperous nation.

“Nigeria has corrected its course. We have passed through our own Red Sea. This is not the time to look back. Let us go forward together, with faith in ourselves, faith in our country, and faith that the sacrifices we have made will yield their reward,” he said.

He described the Nigeria ahead as a nation of abundance and opportunity, where prosperity would be broadly shared, and every child could aspire beyond the circumstances of their birth.

“Our destination is in sight. Our foundations are strong. Our direction is clear. So let us go forward. No looking back,” Tinubu declared.

He wished Nigerians a happy Independence Day and prayed for God’s blessing on the country.