President Bola Ahmed Tinubu has outlined a fresh economic focus centred on production, industrial growth and lower business costs, citing improved macroeconomic indicators as evidence that Nigeria's reform era has paved the way for broader prosperity.

In his Independence Day address on Thursday, October 1, 2026, Tinubu said Nigeria's economy had grown by more than four percent this year, with both oil and non-oil sectors contributing to the expansion.

He also pointed to reduced oil theft, a substantial decline in inflation from its peak, rebuilt foreign reserves, greater exchange rate stability, and more than $6 billion in non-oil export revenue recorded in 2025 as signs of improving conditions.

"Prosperity requires more than cheaper goods. It requires productive work," he said.

The President said his administration would place jobs, enterprise and industrial growth at the centre of its economic policy, with government support channelled toward using Nigeria's gas resources to power new industries, reviving factories, expanding digital connectivity and investing in workforce skills.

He also pledged continued infrastructure and financing support to help Nigerian businesses expand.

On the agricultural front, Tinubu said the government was expanding mechanised irrigation and dry-season farming, improving access to seeds and fertiliser, and investing in storage and transportation to cut post-harvest losses.

"We are building and completing the roads, railways and ports that connect farms and factories to markets," he said.

He explained that the broader economic objective was to lower the cost of living by reducing the cost of producing and transporting goods, citing improved electricity supply to manufacturers and reduced transportation costs as key levers.

"Our objective is not to manage poverty more efficiently. We will defeat it," he said, adding that the administration's reform phase had given way to a new focus on "shared and widespread prosperity."