President Bola Tinubu on Wednesday declared that Nigeria was now selling more to the world than buying.
In a national broadcast to mark Nigeria’s 65th Independence Anniversary, he said, “We are now a net exporter: Nigeria has recorded a trade surplus for five consecutive quarters. We are now selling more to the world than we are buying, a fundamental shift that strengthens our currency and creates jobs at home.
“Nigeria’s trade surplus increased by 44.3% in Q2 2025 to ₦7.46 trillion ($4.74 billion), the largest in about three years. Goods manufactured in Nigeria and exported jumped by 173%. Non-oil exports, as a component of our export trade, now represent 48 per cent, compared to oil exports, which account for 52 per cent. This signals that we are diversifying our economy and foreign exchange sources outside oil and gas.”
According to him, Nigeria has turned the corner and the “the worst is over,” assuring citizens that the sacrifices made through tough reforms are now yielding results.
Tinubu invoked the memory of the nation’s founding fathers and heroines — Herbert Macaulay, Nnamdi Azikiwe, Tafawa Balewa, Obafemi Awolowo, Ahmadu Bello, Margaret Ekpo, Anthony Enahoro, Ladoke Akintola, Michael Okpara, Aminu Kano and Funmilayo Ransome-Kuti — saying they believed Nigeria’s manifest destiny was to lead the black race as the largest black nation on earth.
He noted that while the country had faced profound social, economic, and political challenges in the 65 years since October 1, 1960, it had made tremendous progress.
Education, healthcare, infrastructure, and industry, he said, had expanded significantly since independence, with Nigeria growing from two tertiary institutions to over 693 universities, polytechnics, and colleges of education, alongside growth in manufacturing, telecommunications, aviation, and defence.
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Tinubu recalled that the nation had endured bitter times — including a civil war, military dictatorships, and political crises — but stressed that Nigerians survived with courage and determination.
“While our system and ties that bind us are sometimes stretched by insidious forces opposed to our values and ways of life, we continue to strive to build a more perfect union,” he said.
Reflecting on his 28 months in office, Tinubu said his administration inherited a near-collapsed economy but chose the “path of reform” over “the comfort of today.”
According to him, the removal of fuel subsidies and multiple foreign exchange rates redirected resources to education, healthcare, national security, agriculture, and critical infrastructure.
He reported that government revenues had improved, local governments had more resources, and investments were being made in roads, power, broadband, and social investment programmes.
“I am pleased to report that we have finally turned the corner. The worst is over, I say. Yesterday’s pains are giving way to relief,” Tinubu said, thanking Nigerians for their endurance.
The President listed 12 key economic milestones achieved in the last two years: record-breaking non-oil revenue surpassing ₦20 trillion by August 2025, debt service-to-revenue ratio reduced from 97% to below 50%, with Ways and Means advances paid down, foreign reserves rising to $42.03 billion, the highest since 2019, Tax-to-GDP ratio up to 13.5%, with reforms expanding the base and relief for low-income earners.
Others include; five consecutive quarters of trade surplus, with non-oil exports now 48% of trade,oil production rising to 1.68m barrels per day, with PMS refined locally for the first time in 40 years, stabilisation of the naira following FX reforms, ending multiple rates and N330 billion disbursed to 8 million households under social investment.
Coal mining growth rebounding to 57.5% in Q2 2025, solid minerals now central to growth, expansion of transport infrastructure, including major rail and highway projects, sovereign credit upgrades and stock market growth to 142,000 points in September 2025 with Central Bank cutting interest rates for the first time in five years, signalling confidence in macroeconomic stability.
On security, Tinubu praised the armed forces for victories over terrorism, IPOB/ESN insurgency, and banditry, noting that peace had returned to hundreds of communities in the North-East and North-West.
He addressed the youth directly, describing them as Nigeria’s “greatest assets.”
He cited NELFUND, which had disbursed ₦99.5 billion to 510,000 students across 228 institutions, alongside Credicorp loans worth ₦30 billion to 153,000 Nigerians, and the YouthCred scheme supporting NYSC members.
He also highlighted the Investment in Digital and Creative Enterprises (iDICE) programme to support innovation.
Acknowledging lingering hardship, Tinubu said inflation and high living costs remained concerns but insisted the alternative of economic collapse had been avoided.
“Our macro-economic progress has proven that our sacrifices have not been in vain,” he declared.
He stressed that success would ultimately be judged not just by statistics but by food on the table, quality education, electricity, and security in communities.
Calling for collective responsibility, Tinubu urged Nigerians to embrace productivity, innovation, tax compliance, and patronage of locally made goods. “Let us be a nation of producers, not just consumers,” he said.
The President closed his message with optimism: “With Almighty God on our side, I can assure you that the dawn of a new, prosperous, self-reliant Nigeria is here. Happy 65th Independence Anniversary, and may God continue to bless the Federal Republic of Nigeria.”
