The world celebrates the 65th anniversary of our nation’s Independence today. As we consider the importance of this day and the path we have taken as a country since October 1, 1960, when our leaders took over self-government from colonial rule, let us honor their sacrifice, dedication, and vision for a powerful, wealthy, and united Nigeria that will guide Africa and shine as a light for the rest of the globe.
Our original heroes and heroines—Herbert Macaulay, Dr Nnamdi Azikiwe, Sir Abubakar Tafawa Balewa, Chief Obafemi Awolowo, Sir Ahmadu Bello, Margaret Ekpo, Anthony Enahoro, Ladoke Akintola, Michael Okpara, Aminu Kano, Funmilayo Ransome-Kuti, and other patriots—thought it was Nigeria’s destined role to guide the whole black race as the biggest black country in the world.
For many years, the promise of our independence has faced major social, economic, and political difficulties, yet we have endured. Although we may not have fully realized the high aspirations of our predecessors, we have remained largely on track. In the 65 years since our independence, we have achieved remarkable progress in economic expansion, social unity, and infrastructure development. Our economy has seen substantial growth since 1960.
While it is far simpler for those in a specific profession to concentrate only on what should be, we need to acknowledge and honor the substantial advancements we have made. Nigerians today enjoy improved education and healthcare compared to 1960. At the time of independence, Nigeria had 120 secondary schools serving approximately 130,000 students. According to available data, by 2024, the number of secondary schools in our country had surpassed 23,000.
At the time of independence, Nigeria had just the University of Ibadan and Yaba College of Technology as its two higher education institutions. By the end of last year, the country had 274 universities, 183 polytechnics, and 236 colleges of education, including federal, state, and private establishments. We have witnessed a substantial increase in development across all areas of our national life since independence – in healthcare, infrastructure, financial services, manufacturing, telecommunications, information technology, aviation, and defense, to name a few.
Our nation has gone through both positive and challenging periods during its 65 years as a country, which is typical for any nation and its people. We endured a harsh and preventable civil war, faced military rule, and went through significant political upheavals.
Throughout all these experiences, we faced every storm and conquered every challenge with bravery, resilience, and extraordinary determination. Although our system and the connections that unite us are occasionally tested by hidden forces that oppose our values and lifestyle, we keep working towards creating a more ideal nation where every Nigerian can discover better living conditions and find meaning and satisfaction.
Dear Countrymen, this marks the third time I am speaking to you on the occasion of our independence day since I took up the role of your President on May 29, 2023. During the past 28 months of my leadership, just as our original founders and leaders did before me, I have dedicated myself completely to the ongoing task of building our nation.
After taking office, our administration inherited an economy on the brink of collapse due to years of flawed financial policies and misaligned strategies that had hindered genuine growth. As a new administration, we were faced with a clear decision: maintain the status quo and let our country move forward slowly, or take bold and essential steps toward reform. We opted for the route of change. We chose progress over the ease of the present. Within just a few years, the results of those challenging but vital choices are beginning to show.
By reorienting our nation for long-term development, we eliminated the corrupt fuel subsidies and various foreign exchange rates that fostered a rent-seeking economy, favoring just a small group. Meanwhile, the general population gained little or nothing from our Commonwealth. Our government has shifted the economy toward a more equitable direction, directing funds to support education, healthcare, national security, agriculture, and essential economic infrastructure, including roads, electricity, internet connectivity, and social development initiatives.
These efforts are expected to enhance the standard of living for Nigerians. Due to the difficult choices we have made, the Federal and State governments, along with Local Governments, now possess greater resources to support those at the bottom of the social hierarchy and tackle our development issues.
Dear Nigerians, we are competing with time. We need to develop the roads required, fix those that have deteriorated, and create the schools where our children will study and the hospitals that will look after our population.
It is essential to prepare for future generations. Currently, we lack sufficient electricity to support our industries and households, as well as the resources needed to fix our aging infrastructure, construct modern seaports, rail systems, and international airports that match the highest global standards, due to insufficient investments made years ago. Our administration is working to correct these issues.
I am happy to announce that we have finally overcome the difficult period. The hardest part is behind us, as I state. The troubles of yesterday are now turning into comfort. I commend your perseverance, assistance, and patience. I will keep working for you and prove worthy of the trust you placed in me to guide our country’s ship to a secure port.
Under our guidance, the economy is experiencing rapid recovery, with the reforms initiated more than two years ago yielding clear benefits. The second quarter of 2025 Gross Domestic Product increased by 4.23%—the highest growth rate in four years for Nigeria—and exceeded the 3.4% forecast by the International Monetary Fund. Inflation dropped to 20.12% in August 2025, marking the lowest figure in three years. The government is actively striving to enhance agricultural output and secure food supplies, thereby lowering food expenses.
Over the past two years of our leadership, we have reached 12 significant economic achievements due to the execution of our prudent financial and monetary strategies:
We have achieved an unprecedented rise in non-oil income, meeting the 2025 goal by August with more than N20 trillion. In September 2025, we generated N3.65 trillion, which is 411% higher than the figure recorded in May 2023.
We have improved Fiscal Stability: Our debt servicing-to-revenue ratio has dropped considerably from 97% to under 50%. We have settled the notorious “Ways and Means” advances that jeopardized our financial security and caused inflation. After eliminating the corrupt petroleum subsidy, we have released trillions of Naira for focused investment in the real economy and social initiatives for the most disadvantaged, along with all levels of government.
We hold a more robust foreign reserve position compared to three years ago. Our external reserves rose to $42.03 billion this September—the highest level since 2019.
Our tax-to-GDP ratio has gone up to 13.5 percent from below 10 percent. The ratio is projected to rise more once the new tax law comes into effect in January. The law is not aimed at increasing the load on current taxpayers but at broadening the tax base to create the Nigeria we aspire for and offering tax breaks to those with low incomes.
Nigeria has become a Net Exporter, having achieved a trade surplus for five straight quarters. We are now exporting more to the global market than we are importing, marking a significant change that bolsters our currency and generates employment within the country. Nigeria’s trade surplus rose by 44.3% in Q2 2025, reaching ₦7.46 trillion ($4.74 billion), the highest level in nearly three years. Exports of locally produced goods surged by 173%.
Non-oil exports, which form part of our overall export activities, now make up 48 percent, while oil exports constitute 52 percent. This indicates that we are expanding our economic base and sources of foreign currency beyond oil and gas.
Crude oil output rose to 1.68 million barrels per day, up from just over one million in May 2023. This growth was driven by enhanced security, fresh investments, and improved coordination with stakeholders in the Niger Delta. In addition, the nation has achieved significant progress by refining PMS locally for the first time in forty years. It has also become the continent’s top exporter of aviation fuel.
The Naira has become more stable after the instability and unpredictability experienced in 2023 and 2024. The difference between the official exchange rate and the informal market has significantly decreased, thanks to foreign exchange reforms and new inflows of capital and remittances. The various exchange rates that led to corruption and exploitation are now a thing of the past. Moreover, the value of our currency relative to the dollar is no longer influenced by changes in crude oil prices.
As part of the social investment initiative aimed at assisting low-income families and vulnerable individuals in Nigeria, N330 billion has been distributed to eight million households, with many receiving one or two of the three installments of N25,000 each.
Coal mining experienced a significant recovery, moving from a 22% drop in Q1 to a 57.5% increase in Q2, making it one of Nigeria’s fastest-expanding industries. The solid minerals sector has now become essential to our economy, promoting the production of value-added minerals sourced from our land.
The government is enhancing transportation facilities throughout the nation, including railways, highways, airports, and maritime ports. Rail and water transport increased by more than 40% and 27%, respectively.
A 284-kilometre Kano-Kastina-Maradi Standard Gauge railway initiative and the Kaduna-Kano rail route are almost finished. Progress is being made smoothly on the legacy Lagos-Calabar Coastal Highway and Sokoto-Badagry Highway. The Federal Executive Council recently authorized $3 billion to finish the Eastern Rail Project.
The global community is observing our initiatives. Leading credit rating agencies have revised their view on Nigeria positively, acknowledging our enhanced economic conditions. Our stock market is witnessing an extraordinary growth, increasing from an all-share index of 55,000 points in May 2003 to 142,000 points as of September 26, 2025.
During its most recent MPC gathering, the Central Bank reduced interest rates for the first time in five years, showing assurance regarding the macroeconomic stability of our nation.
SECURITY:
We are committed to strengthening national security, aiming to achieve better economic growth and performance. The personnel in our military and other security organizations are working hard and making considerable sacrifices to protect our safety. They are successfully combating terrorism, banditry, and other violent crimes. We witness their successes through the blood and effort they put into eliminating Boko Haram in the North-East, IPOB/ESN terrorism in the South-East, as well as banditry and abductions. We should keep honoring their bravery and recognizing their courage on behalf of a thankful country. Peace has been restored to hundreds of our freed communities in the North-West and North-East, and thousands of our citizens have safely returned to their homes.
YOUTH:
I have a message for our youth. You represent the future and the most valuable resources of this fortunate nation. You should keep dreaming big, innovating, and achieving new heights in your respective areas of science, technology, sports, and the arts and creative industries. Our government, through its policies and financial support, will continue to provide you with the means to reach great heights. We established NELFUND to assist students with loans for their academic endeavors. Around 510,000 students from 36 states and the FCT have benefited from this program, spanning 228 higher education institutions. As of September 10, the total amount of loans distributed reached N99.5 billion, while the maintenance allowance amounted to N44.7 billion.
Credicorp, an additional program from our government, has provided 153,000 Nigerians with N30 billion in low-cost loans for cars, solar power systems, home improvements, digital gadgets, and other needs.
YouthCred, which I pledged last June, has become a reality, with tens of thousands of NYSC members now benefiting from consumer credit for resettlement.
Under our New Hope Agenda, we have committed to creating a Nigeria where every young individual, irrespective of their background, has fair access to a brighter future—hence, the Investment in Digital and Creative Enterprises (iDICE) initiative. The Bank of Industry is leading this program, in partnership with the African Development Bank, the French Development Agency, and the Islamic Development Bank. This effort is now on the verge of being put into action. Over the past two years, we have worked alongside our partners to introduce the program, empowering our young innovators and visionaries in the tech and creative industries.
A MESSAGE OF HOPE
Dear Nigerians, I have consistently admitted that these changes have brought about some short-term challenges. The impact of inflation and the increasing cost of living continue to be a major issue for our government. Nevertheless, the option of letting our nation fall into economic disorder or financial collapse was never considered. Our macroeconomic achievements show that our efforts have not been in vain. As one, we are building a new foundation that is solid, not based on something unstable.
The true measure of our achievements will go beyond economic figures, but will instead focus on the food available at our family tables, the quality of education our children get, the power in our homes, and the safety within our neighborhoods. I want to assure you that our administration is committed to directing the resources we have saved and the stability we have achieved towards these essential areas. Currently, governors at the state level and local government authorities are achieving more progress.
Therefore, on the occasion of our 65th Independence Anniversary, my message is one of hope and a summons to take action. The federal government will keep fulfilling its role in addressing the fundamental issues within our economy. Now, we all need to open the taps of productivity, creativity, and business initiatives, similar to how the Ministry of Interior has improved the processing of our travel passports. In this context, I call on the sub-national entities to collaborate with us in building the nation. Let us be a country of creators, not merely buyers. Let us cultivate our land and establish factories to process our agricultural output. Let us support ‘Made-in-Nigeria’ products. I declare Nigeria first. Let us fulfill our tax obligations.
In conclusion, let everyone be fully prepared. Let us once again have faith in the limitless possibilities of our great country.
With the Almighty God supporting us, I can guarantee that the beginning of a new, thriving, and independent Nigeria has arrived.
Wishing a joyous 65th Independence Day, and may the Almighty keep blessing the Federal Republic of Nigeria.
Amen.
See the complete statement here:
