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We Have Finally Turned the Corner, the Worst is Over, Tinubu Tells Nigerians on 65th Independence Day Broadcast
President Bola Tinubu on Wednesday morning insisted that the sacrifices of the last two years have started yielding results, promising that the country is now on the path of recovery and stability.
Assuring Nigerians that the nation’s economic storm was beginning to ease, Tinubu declared that the toughest phase of the reforms was behind the nation and saluted the citizenry for their endurance, support, and understanding.
In a nationwide broadcast on the occasion of Nigeria’s 65th Independence Anniversary, the President recalled that he inherited a near-collapsed economy when he took over the reins of power on May 29, 2023, but declared that the nation has finally turned the corner.
Tinubu stressed that as a result of the tough decisions his administration made, the federal and state governments, including local governments, now have more resources to take care of the people at the lower level of the ladder and to address their development challenges.
“Upon assuming office, our administration inherited a near-collapsed economy caused by decades of fiscal policy distortions and misalignment that had impaired real growth. As a new administration, we faced a simple choice: continue business as usual and watch our nation drift, or embark on a courageous, fundamental reform path. 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.
“In resetting our country for sustainable growth, we ended the corrupt fuel subsidies and multiple foreign exchange rates that created massive incentives for a rentier economy, benefiting only a tiny minority. At the same time, the masses received little or nothing from our Commonwealth. Our administration has redirected the economy towards a more inclusive path, channelling money to fund education, healthcare, national security, agriculture, and critical economic infrastructure, such as roads, power, broadband, and social investment programmes.
“These initiatives will generally improve Nigerians’ quality of life. As a result of the tough decisions we made, the federal and state governments, including local governments, now have more resources to take care of the people at the lower level of the ladder, to address our development challenges,” Tinubu emphasised.
Pointing out that Nigeria was racing against time, the Nigerian leader maintained that the country must build the roads it needs, repair the ones that have become decrepit, and construct the schools the children will attend and the hospitals that will care for the people.
Tinubu stated that his administration was making plans for the generations, lamenting that Nigeria does not have enough electricity to power its industries and homes today, or the resources to repair its deteriorating roads, build seaports, railroads, and international airports comparable to the best in the world, because it failed to make the necessary investments decades ago.
He added: “Our administration is setting things right. 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. I salute your endurance, support, and understanding. I will continue to work for you and justify the confidence you reposed in me to steer the ship of our nation to a safe harbour.”
Under his leadership, Tinubu said that the economy is recovering fast, and the reforms he started over two years ago are delivering tangible results.
According to him, the second quarter 2025 Gross Domestic Product (GDP) grew by 4.23 per cent Nigeria’s fastest pace in four years and outpaced the 3.4 per cent projected by the International Monetary Fund (IMF).
Besides, the President boasted that inflation declined to 20.12 per cent in August 2025, the lowest level in three years, while the administration is working diligently to boost agricultural production and ensure food security, reducing food costs.
The President listed what he characterised as ‘12 remarkable economic milestones’ as a result of the implementation of sound fiscal and monetary policies by his government.
“We have attained a record-breaking increase in non-oil revenue, achieving the 2025 target by August with over N20 trillion. In September 2025 alone, we raised N3.65 trillion, 411 per cent higher than the amount raised in May 2023.
“We have restored Fiscal Health: Our debt service-to-revenue ratio has been significantly reduced from 97 per cent to below 50 per cent.
We have paid down the infamous ‘Ways and Means’ advances that threatened our economic stability and triggered inflation. Following the removal of the corrupt petroleum subsidy, we have freed up trillions of Naira for targeted investment in the real economy and social programmes for the most vulnerable, as well as all tiers of government.
“We have a stronger foreign reserve position than three years ago. Our external reserves increased to $42.03 billion this September the highest since 2019.
“Our tax-to-GDP ratio has risen to 13.5 per cent from less than 10 per cent. The ratio is expected to increase further when the new tax law takes effect in January. The tax law is not about increasing the burden on existing taxpayers but about expanding the base to build the Nigeria we deserve and providing tax relief to low-income earners,” Tinubu stressed.
According to him, Nigeria is now a net exporter, recording a trade surplus for five consecutive quarters, and is now selling more to the world than it is buying, a fundamental shift that strengthens the nation’s currency and creates jobs at home.
Nigeria’s trade surplus, the President stressed, increased by 44.3 per cent in Q2, 2025 to N7.46 trillion ($4.74 billion), the largest in about three years as goods manufactured in Nigeria and exported jumped by 173 per cent.
In the same vein, he stated that non-oil exports, as a component of Nigeria’s export trade, now represent 48 per cent, compared to oil exports, which account for 52 per cent, signalling that the country is diversifying its economy and foreign exchange sources outside oil and gas.
In the energy sector, he affirmed that oil production rebounded to 1.68 million barrels per day from barely 1 million in May 2023, attributing the increase to improved security, new investments, and better stakeholder management in the Niger Delta.
Furthermore, he said that the country has made notable advancements by refining petrol domestically for the first time in four decades and has also established itself as the continent’s leading exporter of aviation fuel.
“The Naira has stabilised from the turbulence and volatility witnessed in 2023 and 2024. The gap between the official rate and the unofficial market has reduced substantially, following FX reforms and fresh capital and remittance inflows. The multiple exchange rates, which fostered corruption and arbitrage, are now part of history. Additionally, our currency rate against the dollar is no longer determined by fluctuations in crude oil prices.
“Under the social investment programme to support poor households and vulnerable Nigerians, N330 billion has been disbursed to 8 million households, many of whom have received either one or two out of the three tranches of N25,000 each.
“Coal mining recovered dramatically from a 22 per cent decline in Q1 to 57.5 per cent growth in Q2, becoming one of Nigeria’s fastest-growing sectors. The solid mineral sector is now pivotal in our economy, encouraging value-added production of minerals extracted from our soil,” he noted.
Tinubu said the current administration was expanding transport infrastructure across the country, covering rail, roads, airports, and seaports, revealing that rail and water transport grew by over 40 per cent and 27 per cent, respectively.
On the 284-kilometre Kano-Kastina-Maradi Standard Gauge rail project and the Kaduna-Kano rail line, he stated that these infrastructure were nearing completion, while work is progressing well on the legacy Lagos-Calabar Coastal Highway and Sokoto-Badagry Highway.
According to him, the Federal Executive Council (FEC) recently approved $3 billion to complete the Eastern Rail Project.
Tinubu stated that the world has started taking notice of the government’s efforts, with sovereign credit rating agencies having upgraded their outlook for Nigeria, recognising its improved economic fundamentals.
The stock market, the President said, is experiencing an unprecedented boom, rising from an all-share index of 55,000 points in May 2003 to 142,000 points as of September 26, 2025, while at its last Monetary Policy Committee (MPC) meeting, the Central Bank slashed interest rates for the first time in five years, expressing confidence in the country’s macroeconomic stability.
As Nigerians reflect on the significance of the day and their journey of nationhood since October 1, 1960, Tinubu paid tributes to Nigeria’s founding fathers, including: 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 nationalists who believed it was Nigeria’s manifest destiny to lead the entire black race as the largest black nation on earth.
While Nigeria may not have achieved all the lofty dreams of its forebearers, the President assured that it has not strayed too far from them, stressing that the nation has made tremendous progress in economic growth, social cohesion, and physical development.
“Our country has experienced both the good and the bad times in its 65 years of nationhood, as is normal for every nation and its people,” he stated.
On security, the Nigerian leader stated that his administration was working diligently to enhance national security, ensuring the economy experiences improved growth and performance.
He said that the officers and men of the nation’s Armed Forces and other security agencies were working tirelessly and making significant sacrifices to keep Nigeria safe.
“They are winning the war against terrorism, banditry and other violent crimes. We see their victories in their blood and sweat to stamp out BokoHaram Terror in North-East, IPOB/ESN terror in South East and banditry and kidnapping.
“We must continue to celebrate their gallantry and salute their courage on behalf of a grateful nation. Peace has returned to hundreds of our liberated communities in North-west and North-east, and thousands of our people have returned safely to their homes,” he stated.
Speaking to young people, he described them as the future and the greatest assets of the country, urging them to continue to dream big, innovate, and conquer more territories in their various fields of science, technology, sports, and the art and creative sector.
He highlighted the impact of the Nigerian Education Loan Fund (NELFUND), positing that approximately 510,000 students across 36 states and the FCT have benefited from this initiative, covering 228 higher institutions.
“As of September 10, the total loan disbursed was N99.5 billion, while the upkeep allowance stood at N44.7 billion. Credicorp, another initiative of our administration, has granted 153,000 Nigerians N30 billion affordable loans for vehicles, solar energy, home upgrades, digital devices, and more.
“YouthCred, which I promised last June, is a reality, with tens of thousands of NYSC members now active beneficiaries of consumer credit for resettlement,” he disclosed, acknowledging that the reforms have come with some pains.
“Fellow Nigerians, I have always candidly acknowledged that these reforms have come with some temporary pains. The biting effects of inflation and the rising cost of living remain a significant concern to our government.
“However, the alternative of allowing our country to descend into economic chaos or bankruptcy was not an option. Our macro-economic progress has proven that our sacrifices have not been in vain. Together, we are laying a new foundation cast in concrete, not on quicksand.
“The accurate measure of our success will not be limited to economic statistics alone, but rather in the food on our families’ tables, the quality of education our children receive, the electricity in our homes, and the security in our communities. Let me assure you of our administration’s determination to ensure that the resources we have saved and the stability we have built are channelled into these critical areas.
“Today, the governors at the state level, and the local government autonomy are yielding more developments. Therefore, on this 65th Anniversary of Our Independence, my message is hope and a call to action.
“The federal government will continue to do its part to fix the plumbing in our economy. Now, we must all turn on the taps of productivity, innovation, and enterprise, just like the Ministry of Interior has done with our travel passports, by quickening the processing,” he added.
Arise News
Cameroon ’s top court on Monday declared incumbent Paul Biya, the world’s oldest president, the winner of the Oct. 12 election. Clashes with security forces left at least four protesters dead ahead of the announcement as opposition supporters rallied to demand credible results.
Biya, 92, has led the central African nation since 1982. The Constitutional Council said he received 53.66% of votes while former ally-turned-challenger Issa Tchiroma Bakary got 35.19%. The turnout was 57.7%.
In a social media post after the declaration, Tchiroma said that there was gunfire directed at civilians and two people were shot dead in his hometown in Garoua.
He said: “Toll of their attack: two dead. I wonder what will be said this time? Shooting point-blank at your own brothers — I can’t help but wonder if you’re mercenaries. Kill me if you want, but I will liberate this country by any means necessary. What blatant impunity.”
The four protesters were shot dead in Douala, the economic capital, on Sunday, as hundreds of people stormed streets in several cities. Tchiroma had claimed victory days before Monday’s announcement, citing results he said were collated by his party. Biya dismissed the claim.
According to Samuel Dieudonne Ivaha Diboua, governor of the Littoral Region that includes Douala, several members of the security forces were injured by protesters. He said at least 105 protesters were arrested.
Dozens of opposition supporters, activists and leaders have been arrested in recent days. Paul Atanga Nji, minister of territorial administration, said on Saturday the government arrested several people plotting violent attacks.
One protester, Oumarou Bouba, a 27-year-old trader in Maroua, said: “I am ready to stake my life to defend my vote. I voted for Tchiroma because I want change.”
Following the announcement of the results, Sani Aladji, a 28-year-old who works in a hotel in Maroua, said: “Nothing will change. I expected that Issa Tchiroma would bring change, which is why I voted for him. There’s rampant corruption under Biya’s regime. We are tired of that. We don’t have roads.”
Biya has ruled Cameroon longer than most of its citizens have been alive. Over 70% of the country’s almost 30 million population is below 35. The election has been the latest dramatic example of tension between Africa’s youth and the continent’s many aging leaders.
He first came to power in 1982 following the resignation of Cameroon’s first president and has ruled the country since then, later benefiting from a constitutional amendment that abolished term limits.
Critics accuse Biya of leading Cameroon from a period of relative stability into one of crisis and conflict. The country in recent years has faced attacks by Boko Haram militants in the north and a secessionist insurgency in the country’s English-speaking North West and South West regions.
That crisis, triggered by the government’s attempts to impose French in English-speaking schools and courts, has killed nearly 7,000 people, displaced more than one million more internally and sent thousands fleeing to neighboring Nigeria.
Despite Cameroon being an oil-producing country that is experiencing modest economic growth, young people say the benefits have not trickled down beyond the elites. According to World Bank data, the unemployment rate stands at 3.5%, but 57% of the labor force aged 18 to 35 works in informal employment.
“Many young people across the country and in the diaspora had hoped for change, but that their hopes have been dashed. It feels like a missed opportunity,” said Dr Emile Sunjo, a senior lecturer in international relations at the University of Buea. “Cameroon could potentially slide into anarchy.”
Source: AP
There was mild drama in court on Monday as detained leader of the Indigenous People of Biafra (IPOB), Mazi Nnamdi Kanu, declined opening his defence against the seven-count terrorism-related charge the Federal Government preferred against him, saying categorically that there’s “no case against me”.
Kanu, who elected to defend himself after he disengaged his team of lawyers, adduced reasons before the Federal High Court in Abuja, why he would not open his defence to the charge.
Addressing the court from the dock, the IPOB leader maintained that after going through the case file, he discovered that there is no valid charge to warrant his defence.
He contended that since he had been subjected to an unlawful trial based on an invalid charge, there would be no need for him to offer any explanations or defend himself through the evidence of witnesses.
“Join me in praising God. I have gone through my case file, and there is no charge against me,” he started.
“There is no extant law in this country upon which the prosecution can predicate the charges against me. If there’s any, let my Lord read it out to me.
“So, I should not enter any defence in a charge that does not exist under any law in Nigeria. I urge you to release me today or grant me bail.”
Consequently, he shelved his initial request for the court to issue summons to compel certain persons to appear as his witnesses in the case.
Kanu, who has been in detention since 2021, had in a motion he personally signed and filed before the court, named several individuals that included serving Governors, Ministers, ex-Governors and Security Chiefs, among the 23 persons he intends to produce as his witnesses.
Describing them as vital and compellable witnesses in his case, Kanu, urged the court to grant him a 90-day period to enable him to open and conclude his defence.
He argued that expanding the initial six-day period the court gave for him to conclude his defence has become necessary in view of the number and status of the witnesses he intends to produce to give evidence in the case.
Among the proposed witnesses in the principal list he submitted before the court, included the Governor of Imo state, Hope Uzodimma; that of Lagos state, Babajide Sanwo-Olu; Minister of the Federal Capital Territory, FCT, Nyesom Wike; the immediate past Attorney General of the Federation and Minister of Justice, Abubakar Malami; as well as a former Chief of Army Staff, Gen. Tukur Buratai (rtd).
Others are the Minister of Works, Dave Umahi; the immediate past Governor of Abia State, Okezie Ikpeazu; a former Minister of Defence, Gen. Theophilus Danjuma (rtd); immediate past former Director-General of the National Intelligence Agency, NIA, Ahmed Rufai Abubakar; as well as the former Director-General of the Department of State Services, DSS, Yusuf Bichi.
In the motion dated October 21 and marked: FHC/ABJ/CR/383/2015, Kanu equally hinted that he would call other persons whose names were not on the list he submitted.
However, he ditched the plan on Monday, a development that led the court to adjourn the matter till November 4, 5 and 6 for the adoption of final written addresses.
Before the case was adjourned however, trial Justice James Omotosho implored the IPOB leader to consult experts in criminal law to explain the consequences of his decision.
It will be recalled that the court had earlier rejected a no-case-submission that Kanu filed to be discharged and acquitted.
The court dismissed his contention that the totality of evidence the prosecution tendered in the matter failed to establish a prima facie case against him.
Kanu argued that the five witnesses FG brought to testify before the court failed to prove that he committed any offence that is known to law.
Former US Vice President Kamala Harris said in a British television interview previewed Saturday that she may “possibly” run again to be president.
Harris, who replaced Joe Biden as the 2024 Democratic presidential candidate but lost to Donald Trump, told the BBC that she had not yet decided whether to make another White House bid.
But the 61-year-old insisted she was “not done” in American politics and that her young grandnieces would see a female president in the Oval Office “in their lifetime, for sure”.
“I have lived my entire career a life of service, and it’s in my bones, and there are many ways to serve,” Harris told the British broadcaster in an interview set to air in full on Sunday.
“I’ve not decided yet what I will do in the future, beyond what I am doing right now.”
The comments are the strongest hint yet that Harris could attempt to be the Democratic Party nominee for the 2028 election.
The interview follows the release of her memoir last month in which she argued it had been “recklessness” to let Biden run for a second term as president.
She also accused his White House team of failing to support her while she was his deputy, and at times of actively hindering her.
