President Bola Tinubu has said the hardship facing millions of poor Nigerians is the accumulated result of decades of low productivity, inadequate infrastructure and limited opportunities, rather than the economic reforms introduced by his administration.
Tinubu made the remarks on Thursday in his 66th Independence Day address to the nation, acknowledging that many Nigerians still struggle to afford food, school fees, medical bills and transportation.
The President said although his administration had introduced reforms that had placed pressure on households, the difficulties confronting vulnerable Nigerians predated his government.
“I am also conscious that millions of our fellow citizens cannot wait for tomorrow. Some Nigerian families still struggle today for the next meal, the next school fee, the next medical bill, or simply enough money to get to work.
“Their circumstances did not begin with the reforms of the last three years. Their struggle is the accumulated consequence of decades of low productivity, inadequate infrastructure, insufficient opportunity and institutions that too often failed those who needed them most,” he said.
Tinubu, however, acknowledged the responsibility of his administration to change the circumstances of vulnerable Nigerians, saying the government could not reverse in four years problems that had accumulated over generations.
“We cannot erase in four years what accumulated over generations. But we can change its course. We can build an economy that steadily lifts people out of poverty while ensuring that those who remain vulnerable are not abandoned along the way,” he said.
He said the administration was strengthening direct support for the poorest households and improving the National Social Register to ensure assistance reached people who genuinely needed it.
The President also highlighted the Nigerian Education Loan Fund, saying it was helping children from low-income families pursue higher education despite their parents’ inability to afford the fees.
He cited the Consumer Credit Corporation, CREDICORP, as another initiative aimed at helping working Nigerians acquire essential assets such as vehicles, solar systems and digital devices without having to save for years before making such purchases.
Tinubu said the government would also continue working with state and local governments to strengthen primary healthcare, basic education and other essential public services on which poorer Nigerians depend.
He added that his administration had paid salaries and pensions on time and in full since 2023 and reformed the national pension programme to benefit retirees and vulnerable Nigerians.
However, the President stressed that such interventions were not intended to become a permanent substitute for economic prosperity.
“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 declared.
Tinubu said achieving that objective would require time, discipline, sustained economic growth and the creation of millions of productive opportunities across the country.
“It will take time. It will require discipline. It will require sustained growth year after year and the creation of millions of productive opportunities across our country,” he said.
He said the next priority of his administration was to ensure that the economic reforms undertaken over the past three years translated into tangible improvements in the lives of ordinary Nigerians.
Tinubu said prosperity should not be measured merely by the size of the economy or macroeconomic statistics, but by whether Nigerians could afford basic necessities and find productive opportunities.
“When I speak of prosperity, I do not speak merely of a larger economy, abstract numbers or better statistics. I mean something much more personal. I mean a Nigeria in which the farmer can cultivate his land safely, produce more at lower cost, and earn a decent return for his labour.
“A Nigeria in which factories have reliable power, businesses can obtain credit, and young people can find productive work. A Nigeria in which food and transportation are affordable, education is within reach, and hard-working families can look towards the future with confidence”, he stated.
The President said lowering the cost of living would be central to the next phase of his administration, with efforts focused on reducing the cost of producing and transporting goods.
“Our priority is to bring down the cost of living. We will achieve this by lowering the cost of producing and moving the things Nigerians consume,” he said.
He identified increased agricultural production, mechanised irrigation, improved access to seeds and fertiliser, better storage and transportation infrastructure as part of the measures being pursued to reduce food costs.
Tinubu said the government was also building and completing roads, railways and ports to connect farms and factories to markets.
“Our logic is simple. When a farmer produces more cheaply, when fewer crops are lost between the farm and the market, when a manufacturer spends less on electricity, when a truck reaches its destination faster, and when the business environment fosters fair competition, all those savings will ultimately find their way into the price of goods in the market,” he said.
Tinubu also linked poverty reduction to job creation, particularly among Nigeria’s growing youth population.
“Nigeria is a young country. Millions of young Nigerians enter adulthood every year with talent, energy and ambition. Our responsibility is to ensure that this great demographic strength becomes an engine of production rather than a source of despair,” he said.
He said the government would use gas to power new industries, support businesses seeking to revive factories, expand digital connectivity and invest in skills demanded by employers.
“We are therefore placing jobs, enterprise, and industrial growth at the heart of our government’s policies,” Tinubu said.
The President’s remarks come amid his administration’s continued defence of its economic reforms, which it has described as necessary to address structural weaknesses and create the foundation for sustained growth.
In his May 2026 third-anniversary address, Tinubu acknowledged that the reforms had placed “enormous pressure” on families, workers and businesses, while maintaining that the economy had stabilised.
The Federal Government also said in July that improvements in macroeconomic indicators would need to translate into better livelihoods for Nigerians.
Tinubu’s Independence Day address therefore placed renewed emphasis on the gap between economic recovery at the macro level and the lived experience of households, with the President acknowledging that many Nigerians remained unable to wait indefinitely for the promised long-term benefits of reform.
He said the ultimate measure of his administration’s success would be an economy capable of steadily lifting people out of poverty and creating opportunities for Nigerians across different social groups.
“I want to see more Nigerians making things. I want to see more Nigerian farms feeding our cities and supplying our factories. I want to see Nigerian businesses selling Nigerian goods to the whole world. I want young Nigerians building unicorns and creating opportunities for others here at home,” he said.
Tinubu ended by urging Nigerians to remain committed to the country’s future, saying the sacrifices made during the reform period should eventually yield tangible rewards.
“The Promised Land before us is a Nigeria of abundance and opportunity; a nation where prosperity is broadly shared, where every child can dream beyond the circumstances of his birth, and where our country’s immense promise is finally reflected in the lives of our people,” he said.
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