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Independence Day Broadcast: I know Nigerians are suffering – Tinubu
Fellow Nigerians, as I address you today, I am deeply aware of the struggles many of you face in these challenging times. Our administration knows that many of you struggle with rising living costs and the search for meaningful employment. I want to assure you that your voices are heard.
As your President, I assure you that we are committed to finding sustainable solutions to alleviate the suffering of our citizens. Once again, I plead for your patience as the reforms we are implementing show positive signs, and we are beginning to see light at the end of the tunnel.
Exactly 64 years ago, our founding fathers chose democracy as a form of government and launched the dream of a great country that would lead the rest of Africa out of poverty, ignorance, and underdevelopment, a beacon of hope to the rest of Africa and the world.
Over six decades later, we can look back, and Nigerians worldwide can see how well we have succeeded in realising the lofty dreams of our founding fathers.
The world is witnessing and benefiting from the can-do spirit of the Nigerian people, our massive intellectual capacity, and our enterprise and industry in all vocations, from arts to science, technology to infrastructure. The dreams that our founding fathers envisaged are still a work in progress. Every day, we put our hands on the plough, determined to do a better job of it.
While it is tempting to focus on what has been left undone and where we have stumbled as a nation, we must never lose sight of how far we have come in forging and holding our country together.
Since independence, our nation has survived many crises and upheavals that led to the dissolution and disintegration of many other nations worldwide. Six years after independence, our country descended into a political crisis that led to a bitter and avoidable civil war. Since returning from the brink of that darkest moment, we have learned to embrace our diversity and manage our differences better as we continue to work towards engendering a more perfect union.
Despite the many challenges that buffeted our country, we remain a strong, united, and viable sovereign nation.
Dear compatriots, our independence anniversary gives us another chance to reflect on how far we have gone in our journey to nation-building and to renew our commitment to building a better nation that will serve present and future generations of Nigerians.
While we celebrate the progress we have made as a people in the last sixty-four years, we must also recognise some of our missed opportunities and mistakes of the past. If we are to become one of the greatest nations on earth, as God has destined us to be, our mistakes must not be allowed to follow us into the future.
My administration took over the leadership of our country 16 months ago at a critical juncture. The economy faced many headwinds, and our physical security was highly impaired. We found ourselves at a dizzying crossroads, where we must choose between two paths: reform for progress and prosperity or carry on business-as-usual and collapse. We decided to reform our political economy and defence architecture.
On the security front, I am happy to announce to you, my compatriots, that our administration is winning the war on terror and banditry. Our target is to eliminate all the threats of Boko Haram, banditry, kidnapping for ransom, and the scourge of all forms of violent extremism. Within one year, our government has eliminated Boko Haram and bandit commanders faster than ever. As of the last count, over 300 Boko Haram and bandit commanders have been eliminated by our gallant troops in the Northeast, Northwest, and some other parts of the country.
We have restored peace to hundreds of communities in the North, and thousands of our people have been able to return home. It is an unfinished business, which our security agencies are committed to ending as quickly as possible. As soon as we can restore peace to many communities in the troubled parts of the North, our farmers can return to their farms. We expect to see a leap in food production and a downward spiral in food costs. I promise you, we shall not falter on this.
Our government has been responding to the recent natural disasters, particularly the flooding in parts of the country. After Vice President Kashim Shettima visited Maiduguri, I also visited to assure our people that this federal government will always stand with our people in their times of trouble. At the last meeting of the Federal Executive Council, we approved a Disaster Relief Fund to mobilise private and public sector funds to help us respond faster to emergencies.
Our government has also ordered integrity tests of all our dams in the country to avert future disasters.
The economy is undergoing the necessary reforms and retooling to serve us better and more sustainably. If we do not correct the fiscal misalignments that led to the current economic downturn, our country will face an uncertain future and the peril of unimaginable consequences.
Thanks to the reforms, our country attracted foreign direct investments worth more than $30 billion in the last year.
Fellow compatriots, our administration is committed to free enterprise, free entry, and free exit in investments while maintaining the sanctity and efficacy of our regulatory processes. This principle guides the divestment transactions in our upstream petroleum sector, where we are committed to changing the fortune positively. As such, the ExxonMobil Seplat divestment will receive ministerial approval in a matter of days, having been concluded by the regulator, NUPRC, in line with the Petroleum Industry Act, PIA. This was done in the same manner as other qualified divestments approved in the sector.
The move will create vibrancy and increase oil and gas production, positively impacting our economy.
The more disciplined approach adopted by the Central Bank to monetary policy management has ensured stability and predictability in our foreign exchange market. We inherited a reserve of over $33 billion 16 months ago. Since then, we have paid back the inherited forex backlog of $7 billion. We have cleared the ways and means debt of over N30 trillion. We have reduced the debt service ratio from 97 per cent to 68 per cent. Despite all these, we have managed to keep our foreign reserve at $37 billion. We continue to meet all our obligations and pay our bills.
We are moving ahead with our fiscal policy reforms. To stimulate our productive capacity and create more jobs and prosperity, the Federal Executive Council approved the Economic Stabilisation Bills, which will now be transmitted to the National Assembly. These transformative bills will make our business environment more friendly, stimulate investment and reduce the tax burden on businesses and workers once they are passed into law.
As part of our efforts to re-engineer our political economy, we are resolute in our determination to implement the Supreme Court judgment on the financial autonomy of local governments.
The central concern of our people today is the high cost of living, especially food costs. This concern is shared by many around the globe as prices and the cost of living continue to rise worldwide.
My fellow Nigerians, be assured that we are implementing many measures to reduce the cost of living here at home.
I commend the Governors particularly, in Kebbi, Niger, Jigawa, Kwara, Nasarawa, and the Southwest Governors that have embraced our agricultural production programme. I urge other states to join the Federal Government in investing in mechanised farming. We are playing our part by supplying fertilizer and making tractors and other farm equipment available. Last week, the Federal Executive Council approved establishing a local assembly plant for 2000 John Deere tractors, combine harvesters, disc riders, bottom ploughs and other farm equipment. The plant has a completion time of six months.
Our energy transition programme is on course. We are expanding the adoption of the Presidential Initiative on Compressed Natural Gas for mass transit with private sector players. The Federal Government is ready to assist the thirty-six States and FCT in acquiring CNG buses for cheaper public transportation.
Fellow Nigerians, while we are working to stabilise the economy and secure the country, we also seek to foster national unity and build social harmony and cohesion. Our economy can only thrive when there is peace.
As we work to overcome the challenges of the day, we remain mindful of the next generation as we seek to galvanize their creative energy towards a better future. We lead today with the future we wish to bequeath to our children in focus, recognizing that we cannot design a future that belongs to them without making them its architects.
Considering this, I am pleased to announce the gathering of a National Youth Conference. This conference will be a platform to address the diverse challenges and opportunities confronting our young people, who constitute more than 60 per cent of our population. It will provoke meaningful dialogue and empower our young people to participate actively in nation-building. By ensuring that their voices are heard in shaping the policies that impact their lives, we are creating a pathway for a brighter tomorrow.
The 30-day Confab will unite young people nationwide to collaboratively develop solutions to issues such as education, employment, innovation, security, and social justice. The modalities of this Confab and selection of delegates will be designed in close consultation with our young people through their representatives. Through this confab, it will be our job as leaders to ensure that their aspirations are at the heart of the conference’s deliberations. The government will thoroughly consider and implement the recommendations and outcomes from this forum as we remain resolute in our mission to build a more inclusive, prosperous, and united Nigeria.
Our government is implementing several other youth-centric programmes to give our young people an advantage in the rapidly changing world. We are implementing, amongst others, the 3 million Technical Talents programme (3MTT) of the Ministry of Communications, Innovation and Digital Economy, aimed at building Nigeria’s technical talent backbone.
We have also enthusiastically implemented the Nigerian Education Loan Fund (NELFUND), which provides cheap loans to our students to pursue their tertiary educational dreams. In addition, later this month, we shall launch The Renewed Hope Labour Employment and Empowerment Programme (LEEP). It is conceived as a comprehensive suite of interventions at job creation by the Federal Ministry of Labour and Employment that is aimed at facilitating the creation of 2.5 million jobs, directly and indirectly, on an annual incremental basis whilst simultaneously ensuring the welfare and safety of workers across the country.
As is the tradition, the government will soon announce all the beneficiaries of our national honours for 2024.
The Senate President and the Chief Justice of the Federation have been conferred with the honour of the Grand Commander of the Order of the Niger (GCON). The deputy Senate President and Speaker of the House of Representatives have the honour of Commander of the Order of the Federal Republic (CFR), while the deputy speaker of the House has been awarded Commander of the Order of Niger (CON).
Fellow Nigerians, better days are ahead of us. The challenges of the moment must always make us believe in ourselves. We are Nigerians—resilient and tenacious. We always prevail and rise above our circumstances.
I urge you to believe in our nation’s promise. The road ahead may be challenging, but we will forge a path toward a brighter future with your support. Together, we will cultivate a Nigeria that reflects the aspirations of all its citizens, a nation that resonates with pride, dignity, and shared success.
As agents of change, we can shape our destiny and build a brighter future by ourselves, for ourselves and for future generations.
Please join our administration in this journey towards a brighter future. Let us work together to build a greater Nigeria where every citizen can access opportunities and every child can grow up with hope and promise.
May God continue to bless our nation and keep members of our armed forces safe.
Happy Independence anniversary, my fellow Nigerians!
-President Bola Ahmed Tinubu
Seven people have died and seven others sustained injuries in a fatal road crash on the Bida-Kutigi road in Niger State, the Federal Road Safety Corps (FRSC) has confirmed.
The FRSC Niger Sector Commander, Corps Commander Aishatu Sa’adu, confirmed the incident to the News Agency of Nigeria (NAN) on Sunday.
Sa’adu said the crash occurred on Sunday afternoon at Shebe village, a few kilometres from Kutigi town.
According to her, the accident involved a Mazda vehicle and a Siena bus travelling along the Bida-Kutigi road.
“Seven people lost their lives, seven others were injured while four were rescued without injuries, bringing the total involved to 18,” she said.
The sector commander said the seven victims who died were confirmed dead at the scene, while the injured victims sustained injuries of varying degrees.
She said the injured were evacuated to Kutigi General Hospital for medical attention, while the remains of the deceased were deposited at the hospital’s mortuary.
The FRSC official did not immediately disclose the identities of the victims or provide further details on the circumstances surrounding the collision.
The crash involved a total of 18 people, comprising seven fatalities, seven injured persons and four uninjured survivors.
Authorities are expected to investigate the cause of the accident and determine the circumstances that led to the fatal collision.
The presidential candidate of the People’s Redemption Party (PRP), Donald Duke, has described as a “lie” the claim that Nigeria is Africa’s wealthiest country, arguing that the country remains one of the poorest on the continent when measured by per capita income.
Duke, a former governor of Cross River State, stated this during an interview with journalists in Lagos.
He said Nigeria’s position as Africa’s largest economy by Gross Domestic Product (GDP) did not necessarily reflect the living standards of its citizens.
“It is embarrassing that a country that was considered one of the wealthiest in Africa still thinks today that it is the largest economy in Africa. That is not true.
“We are living a lie. It is a nice sound bite, though, to say that Nigeria is the largest economy in Africa. No. Nigeria is just one of the poorest when you take per capita income into consideration,” he said.
Duke said productivity remained critical to economic development, noting that several countries Nigerians considered smaller had higher per capita incomes.
On insecurity, the PRP presidential candidate said he preferred not to describe terrorists operating in Nigeria as “Islamic terrorists”, arguing that their activities were not driven by Islam.
He attributed part of the security challenges, particularly in Northern Nigeria, to the collapse of Libya, which he said contributed to the movement of arms into Nigeria through its land borders.
Duke said the government needed short-, medium- and long-term measures to tackle kidnapping, banditry and terrorism.
“Right now, you have got to deal with the security problems as they exist today — kidnapping, banditry, terrorism and all that.
“But even beyond that, those things are consequences of other things. They are consequences of a very poor economy and, of course, the failure to properly manage our borders,” he said.
He also called for measures to improve citizens’ productivity through increased local production and the use of modern technology to strengthen border security.
On the economic development of Northern Nigeria, Duke said that, if elected president, he would restructure mining activities in the region to ensure that local and state governments, as well as host communities, benefited from the sector.
He said the region’s mineral deposits, rather than oil in the Chad Basin, represented a major economic opportunity.
“There must be a structured way of mining. Today, it is artisanal, and the broader community, the border communities, society and the nation itself do not adequately benefit from those resources,” Duke said.
He cited gold deposits in Zamfara State as an example, saying insecurity had affected mining activities in the area.
Duke proposed that each state should be treated as an economic entity, with the Federal Government working with state governments to assess mineral deposits and establish proven reserves capable of attracting investors.
He said mining development should involve a partnership between the Federal and state governments, with revenues shared between both levels of government.
However, Duke stressed that security remained essential to attracting investment into the mining sector.
“Nobody is going to invest if there is no security,” he said, citing the experience of the Niger Delta, where insecurity had contributed to oil companies moving their operations to offshore locations.
This scrutiny follows the revelation that the Federation Account disbursed about N47tn to the three tiers of government in the three years since the removal of petrol subsidy.
This was as the Federal Government, 36 states and 774 local governments shared a cumulative N93.216tn as revenue from the Federation Account between 2017 and 2025, with more than half of the amount distributed in the three years following the economic reforms introduced by the Federal Government in 2023.
These figures were disclosed in a document obtained by our correspondent from the Federal Ministry of Finance on Sunday.
It showed that N47.25tn, representing about 50.7 per cent of the N93.13tn shared during the period, was distributed between 2023 and 2025 alone, highlighting the sharp expansion in revenues following the removal of petrol subsidy, exchange rate reforms and increased revenue mobilisation.
But policy analysts, civil society groups and other critics say the increase in revenue has not translated into a corresponding improvement in the living conditions of Nigerians facing rising living costs, unemployment, poverty and inadequate public services.
In an interview, a policy analyst, Adebayo Abubakar, said the removal of subsidy had increased government revenues but argued that the additional funds had not always translated into spending that reflected the economic hardship facing Nigerians.
“Roads, bridges, drainage and other infrastructure remain important, but some governments appear to favour conspicuous projects while schools, healthcare facilities, water supply and other basic services receive inadequate attention,” he said.
The removal of petrol subsidy and other economic reforms introduced by the Federal Government in 2023 have triggered an unprecedented surge in revenue flowing into the Federation Account, with the 36 states and 774 local government areas receiving significantly higher allocations amid growing questions over how the windfall has translated into improved infrastructure, security and public services.
The sharp increase in Federation Account Allocation Committee payouts has, however, placed state governors under renewed scrutiny, as many Nigerians continue to grapple with high living costs, poor infrastructure and worsening insecurity despite the substantial growth in revenues available to subnational governments.
While some governors have linked higher FAAC receipts to road construction, bridges, healthcare, education, workers’ welfare and other projects, residents in some states said the increased revenue had not resulted in improved public services or reduced economic hardship.
Findings by The PUNCH showed that the Federal Government, states and local governments received about N47tn from the Federation Account in the three years following the reforms, exceeding the amount shared in the preceding six-year period and reigniting the debate over the benefits and consequences of the subsidy removal policy.
FAAC disbursements
The document showed that FAAC distributions rose from N5.64tn in 2017 to N21.90tn in 2025, representing an increase of about 288 per cent over the nine-year period.
Year-by-year, net FAAC stood at N5.64tn in 2017, N7.98tn in 2018, N7.85tn in 2019, N7.11tn in 2020, N8.12tn in 2021 and N9.18tn in 2022. It subsequently rose to N10.09tn in 2023, N15.26tn in 2024 and a record N21.90tn in 2025.
The development highlights the dramatic transformation in Nigeria’s federation revenue following the removal of petrol subsidy, reforms in the foreign exchange market and efforts to improve revenue mobilisation.
It also exposes the limits of measuring Nigeria’s revenue growth in naira terms alone. While the removal of petrol subsidy, foreign exchange reforms and improved revenue mobilisation helped to push FAAC allocations sharply higher, a significant part of the increase reflects the devaluation of the naira.
For instance, Nigeria shared N7.98tn through FAAC in 2018, which, at the Central Bank of Nigeria exchange rate at the time, was equivalent to about $26bn. By 2025, the amount shared had risen almost threefold to N21.9tn. However, when converted at the CBN exchange rate for 2025, the allocation was worth only about $14.4bn.
In other words, while FAAC distribution increased by about 174 per cent in naira terms between 2018 and 2025, its dollar value fell by roughly 45 per cent, or about $11.6bn.
The comparison suggests that the apparent surge in federation revenue was driven not only by increased revenue generation and reforms, but also by the weaker naira, which translated dollar-denominated oil and other foreign currency earnings into substantially larger amounts of naira.
The document showed that net FAAC allocations stood at N5.64tn in 2017 and rose to N7.98tn in 2018, representing a 29 per cent increase. However, growth was not sustained in the following two years.
The distributable revenue fell by two per cent to N7.85tn in 2019. It declined further by 10 per cent to N7.11tn in 2020, reflecting the economic disruptions associated with the COVID-19 pandemic and developments in the oil market.
The distributable revenue, however, recovered to N8.12tn in 2021 and increased to N9.18tn in 2022. The document put the average annual growth rate for the pre-reform period at eight per cent. But the sharpest increase came after the reforms introduced in 2023.
Net FAAC rose to N10.09tn in 2023, representing a nine per cent increase. It then jumped by 34 per cent to N15.26tn in 2024 and expanded by another 30 per cent to a record N21.90tn in 2025.
This means the average annual growth rate accelerated from eight per cent in the pre-reform period to 24 per cent between 2023 and 2025. In effect, the pace of growth in distributable federation revenue was three times higher in the post-reform period than the average recorded before the reforms.
The figures also showed the extraordinary weight of the last three years in Nigeria’s federation revenue history. Of the N93.13tn shared between 2017 and 2025, the N47.25tn distributed between 2023 and 2025 alone exceeded the combined allocations recorded in several earlier years, meaning that every N2 shared over the nine-year period contained more than N1 distributed after the reforms.
Finance ministry speaks
The Federal Ministry of Finance, in its assessment of the reforms, said states and local governments had received substantially higher allocations, increasing the resources available to subnational governments for salaries, pensions, infrastructure and other public responsibilities.
The ministry said, “States and local governments received significantly higher allocations through the Federation Account, increasing the resources available to meet salaries, pensions, infrastructure and other responsibilities at the subnational level that benefit the people.”
It added that, compared with the monthly run-rate before the removal of petrol subsidy, “states received about N9.17tn in additional allocations from June 2023 to December 2025,” while local governments received about N6.66tn in additional allocations during the same period.
Further analysis of tier-by-tier annual distribution figures for 2022 to 2025 showed that the Federal Government received N1.996tn in 2022, N3.749tn in 2023, N4.570tn in 2024 and N7.024tn in 2025, bringing its four-year allocation to about N17.34tn.
The figures showed that the states emerged as the biggest beneficiaries of the post-reform expansion in FAAC receipts. Their annual allocation jumped from N4.18tn in 2023 to N8.93tn in 2025, more than doubling within two years. In 2024, states received N6.53tn, exceeding the Federal Government’s N4.57tn allocation in the figures contained in the document.
A World Bank analysis similarly identified 2024 as a turning point when state governments received more from FAAC distributable revenues than the Federal Government, reflecting a structural shift in the pattern of federation revenue distribution.
The expansion in FAAC receipts has been linked largely to the fiscal reforms introduced by President Bola Tinubu’s administration after it assumed office in May 2023.
The reforms included the removal of petrol subsidy and changes to the foreign exchange regime, alongside efforts to improve tax collection and revenue remittances.
News
Nwabueze Denies Running ‘Fake Agency’, Says Made-in-Nigeria Project Has Operated Under OSGF for 16 Years
The National Coordinator and Executive Director of the National Brands Development and Made in Nigeria Special Project Office, George Nwabueze, has denied the allegation of running a “fake agency” in the country.
Nwabueze, who spoke with newsmen on Saturday, noted that he oversaw an office which was under the supervision of the Office of the Secretary to the Government of the Federation.
He noted that the office had been in existence for 16 years.
The Independent Corrupt Practices and other related offences Commission had on Friday said the President had ordered Nwabueze’s arrest for leading and promoting the outfit, which it tagged as a fake federal agency.
The ICPC said the accused was running it with the collaboration of senior public servants in the Office of the Secretary to the Government of the Federation.
But responding to our correspondent, the embattled executive director said, “Made in Nigeria Special Project Office is a project office in the OSGF. We don’t know where fake agency comes from. A programme that has been in the SGF’s office since 16 July 2010 was just discovered yesterday (Friday). After 16 years; Nigeria is a funny country.”
Nwabueze spoke while responding to our correspondent’s enquiries on LinkedIn, where he had earlier posted his appointment letter to rebuff ICPC’s claim of illegality.
The letter, dated October 3, 2025, was purportedly issued by the Office of the Secretary to the Government of the Federation.
It was referenced OSGF/MIN/59310/11/205 and signed by the Permanent Secretary, Political and Economic Affairs Office, Nadungu Gagare.
The letter, addressed to “Hon. George Buchi Nwabueze, National Coordinator, Made in Nigeria Project Office, OSGF, Three Arms Zone, Abuja,” conveyed the approval of his appointment as National Coordinator/Executive Director of the Made in Nigeria Project Office under the OSGF.
According to the document, the appointment was for a five-year tenure beginning from July 2025 and was renewable.
“I am directed to formally convey the approval of your appointment as National Coordinator/Executive Director of the Made in Nigeria Project Office under the Office of the Secretary to the Government of the Federation,” the letter stated.
It added that the appointment followed “a careful evaluation of your commitment, contribution, and capacity in delivering on the mandate of the Special Project Office.”
The document listed Nwabueze’s responsibilities to include the supervision and development of programmes, projects and policies; supervision of regional and state coordinators across the 36 states; and organisation of exhibitions, trade expos, economic summits and other promotional initiatives aimed at promoting indigenous products and services.
It further stated that the project was to operate temporarily from Room B53, Ground Floor, within the OSGF complex.
“Please note that this appointment is at the pleasure of the Secretary to the Government of the Federation, and in line with the objectives of the Made in Nigeria initiative under the Renewed Hope Agenda,” the letter said.
Efforts to engage Nwabueze further on the matter proved abortive as he declined response.
Former Speaker of the Abia State House of Assembly, Rt. Hon. Chinedum Enyinnaya Orji, has described Pastor Jerry Uchechukwu Eze as an exceptional man of God whose ministry has made a profound impact on humanity.
In a birthday congratulatory message issued on Saturday, August 22, 2026, Orji paid glowing tribute to the Senior Pastor of Streams of Joy International and Convener of the New Season Prophetic Prayers and Declaration (NSPPD).
“Your faith, selfless service, wisdom and commitment to the work of God continue to inspire countless lives. Your ministry has been a source of hope, guidance and spiritual upliftment to many,” Orji said.
The former Speaker further described Pastor Jerry Eze as a highly revered servant of God who is truly filled with the Holy Spirit, noting that testimonies of miracles, signs and wonders consistently follow the NSPPD prayer sessions.
While wishing the celebrant a happy birthday, Orji prayed that God would continue to increase him in ministry, wisdom, knowledge and understanding, and grant him long life in peace and happiness.
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