Tinubu Acknowledges Economic Struggles, Promises Action Against Poverty

President Bola Tinubu on Thursday admitted that many Nigerians are finding it hard to pay for basic needs like food, school fees, medical bills, and transport. He promised that his government would not just manage poverty but work to eliminate it.

Tinubu made these comments during his 66th Independence Day address to the nation. He said the struggles many families face started before his government. He accepted that the government has a duty to improve the lives of vulnerable Nigerians.

The President, who returned to Nigeria on Wednesday from a working holiday in France, said the tough times are the result of years of low productivity, poor infrastructure, and a lack of opportunities. He pointed out that many institutions have failed to support those in need.

"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."

He continued, "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."

Despite these challenges, the President said the government cannot fix problems that took generations to create in just four years. But he believes they can change the country's path and lift Nigerians out of poverty over time.

"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 stated.

He mentioned that his administration is enhancing direct support for the poorest households. They are also improving the National Social Register to ensure aid reaches those who truly need it.

Tinubu also talked about the Nigerian Education Loan Fund. This fund helps children from low-income families go to school even when their parents cannot pay the fees.

He pointed out the Consumer Credit Corporation, known as CREDICORP. This initiative helps working Nigerians buy essential items like vehicles, solar systems, and digital devices without needing to wait many years to save up.

The President promised that his government would keep working with state and local governments to improve primary healthcare and basic education, which poorer Nigerians rely on.

He informed the public that since 2023, his administration has been paying salaries and pensions on time and has reformed the national pension program to benefit both retirees and vulnerable Nigerians.

But Tinubu made it clear that these programs are not meant to replace real 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.

He explained that achieving this goal will take time, discipline, and a steady growth in the economy. It will also require the creation of millions of job opportunities across the nation.

"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.

The government's next focus, he noted, is to ensure that economic reforms from the past three years lead to real improvements for ordinary Nigerians.

Tinubu said in this new phase, prosperity would not just be about economic size or statistics. It should reflect whether Nigerians can afford basic needs and find job 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."

He added, "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."

The President said lowering the cost of living would be central to the government's next phase. They plan to reduce the cost of producing and moving 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 also mentioned that improving agricultural production, mechanised irrigation, better access to seeds and fertiliser, and improved infrastructure for storage and transport are measures to cut food costs.

The government is 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 tied poverty reduction to job creation, especially for Nigeria's young population. He said, "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 the government will use gas to power new industries, help businesses to revive factories, expand digital connectivity, and invest in skills that employers need.

"We are therefore placing jobs, enterprise, and industrial growth at the heart of our government’s policies," Tinubu said.

His comments come as his administration insists that the economic reforms are crucial to fixing deep-rooted problems and building a foundation for lasting growth. In his May 2026 address, Tinubu said these reforms had put "enormous pressure" on families, workers, and businesses, while claiming the economy had stabilised.

In July, the Federal Government also acknowledged that improvements in the economy must benefit households. They said the next step is to turn economic stability into better living conditions.

Tinubu’s Independence Day address highlighted the gap between the economy's recovery and the daily lives of families. He recognised that many Nigerians are still waiting for the promised benefits of reforms.

He said the true measure of the government's success will be an economy that can lift people out of poverty and create opportunities for all Nigerians.

"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 concluded by urging Nigerians to stay hopeful about the country's future. He believes the sacrifices made during the reform period will eventually lead to real 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.