Nigerian President Bola Tinubu has used his Independence Day address to highlight economic changes implemented during his administration, saying the country has moved toward more stable growth as he seeks another term in office in the January 2027 presidential election.
Speaking on October 1, Tinubu said Nigeria’s economy had expanded by more than 4% during the year, with contributions from both the oil and non-oil sectors. He also pointed to lower oil theft, a decline in inflation from its peak, stronger foreign reserves and greater stability in the foreign exchange market. He said non-oil exports generated more than $6 billion in 2025, which he described as a record for the country.
Tinubu began his presidency in 2023 with a series of major economic reforms, including the removal of the longstanding fuel subsidy and changes to the foreign-exchange system. The measures were welcomed by investors but also contributed to significant increases in living costs and inflation, creating pressure on households.
In his latest address, Tinubu said the government’s focus was now shifting from stabilising the economy toward broader prosperity. He highlighted plans involving agriculture, transport infrastructure, industrial production, access to credit and employment, particularly for younger Nigerians.
Economic conditions remain an important issue as the country approaches the next presidential election. Nigeria continues to face security challenges, while the effects of higher prices and living costs remain part of the wider public debate surrounding the government’s economic policies.
The Independent National Electoral Commission has published 18 presidential candidates for the January 16, 2027 election. Tinubu is representing the All Progressives Congress, while former Vice President Atiku Abubakar is contesting under the African Democratic Congress and former Anambra State governor Peter Obi is representing the Nigeria Democratic Congress.
With the full candidate list now established, the election campaign is set to place the government’s economic record, living costs, security and other national issues under continued public scrutiny
