. Says no going back to subsidy hell
President Bola Ahmed Tinubu has reiterated that there will be no return to the era of addictive subsidies, as Nigeria enters what he calls “the age of prosperity.”
In a powerful national broadcast on Thursday day, October 1, 2026, to mark Nigeria’s 66th Independence Anniversary, the President said reducing the cost of living remains the central obsession of his administration, and his government will achieve it by crashing the cost of production and transportation nationwide.
Sixty-six years after independence, Tinubu admitted Nigeria has survived civil war, military jackboots, economic collapse and insecurity through sheer resilience. But he said the founding fathers wanted more than flag independence — they wanted dignity, opportunity and a better life.
“Sixty-six years later, Almighty God has made it our responsibility to deliver that promise,” he declared.
From Morphine To Surgery
Taking Nigerians down memory lane, Tinubu said past leaders kept postponing hard decisions, allowing distortions to become deeply entrenched. For three years, his administration has applied painful reforms — not to create hardship, but to cure it.
He likened Nigeria to a cancer patient.
“For too long, Nigeria’s leaders chose morphine while praying for a miracle that never came,” Tinubu fired. “We chose to excise the cancer.”
He warned Nigerians to resist “influential but regressive voices” now singing a siren song to return to subsidies.
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“Now, as certain influential but regressive voices would have us abandon the treatment and return ourselves to the abuse of addictive subsidies, we must resist their siren song.”
“The age of reform has done its work. Now begins the age of prosperity.”
Growth, $6bn Non-Oil Boom, Reserves Up
Reeling out what he called evidence, not propaganda, Tinubu said the economy grew by over four per cent in 2026, driven by oil and non-oil sectors. Oil theft has dropped, inflation is falling from its peak, foreign reserves are healthier, and the FX market is stable.
In a historic first, Nigeria’s non-oil exports generated over $6 billion in 2025 — the highest ever.
“These are not idle claims. International observers, journalists, NGOs and multilateral institutions can see the change,” he said. Foreign direct investment is rising, private sector confidence is back.
What Prosperity Means
But, he stressed, prosperity is not abstract GDP numbers.
“I do not speak merely of a larger economy, abstract numbers or better statistics. I mean something much more personal,” he said.
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He painted a Nigeria where farmers produce cheaply and safely, trucks move from farm to market without carnage, factories enjoy power and credit, and youths build unicorns at home.
“Our logic is simple. When a farmer produces more cheaply, when fewer crops are lost between farm and market, when a manufacturer spends less on electricity, savings will find their way into market prices.”
Bridge To Prosperity, Not Poverty Management
The President acknowledged that millions still struggle with food, school fees, rent at N1,430 per litre petrol reality, but said his government is building a bridge — NELFUND for students, CREDICORP for consumer credit, a cleaned National Social Register for the poorest, prompt salaries and pension reforms.
“These programmes are not substitutes for prosperity. They are a bridge to aid our nation’s citizens on their path towards it. Our objective is not to manage poverty more efficiently. We will defeat it.”
He ended with a charge:
“Our destination is in sight. Our foundations are strong. Our direction is clear. So let us go forward. No looking back.”
