TURNING THE CORNER: Tinubu Declares Economic Recovery Underway

TURNING THE CORNER: Tinubu Declares Economic Recovery Underway

President Bola Tinubu has announced that Nigeria's economy has finally turned the corner after a series of painful reforms. In his national broadcast marking the country's 65th Independence Anniversary, Tinubu stated, "We chose the path of reform. We chose the path of tomorrow over the comfort of today. Less than three years later, the seeds of those difficult but necessary decisions are bearing fruit."to

Economic Milestones

Tinubu highlighted several economic achievements, including:

- GDP Growth: 4.23% growth in the second quarter of 2025, the fastest pace in four years

- Inflation Reduction: Inflation declined to 20.12% in August, the lowest level in three years

- Trade Surplus: Five consecutive quarters of trade surpluses, with a surplus of N7.46 trillion ($4.74 billion) in Q2 2025

- Non-Oil Revenue: Record-breaking increase in non-oil revenue, achieving the 2025 target by August with over N20 trillion

- Foreign Exchange Reserves: External reserves increased to $42.03 billion, the highest since 2019.

Tinubu's Renewed Hope Agenda

The President's Renewed Hope Agenda aims to:

- Diversify the Economy: Reduce dependence on oil and promote non-oil exports

- Improve Infrastructure: Invest in critical infrastructure, such as roads, power, and broadband

- Support Vulnerable Populations: Provide social safety nets and support to vulnerable Nigerians

With these efforts, Tinubu remains optimistic about Nigeria's economic future, stating, "The worst is over."