Nigeria was like cancer patient in 2023, My reforms didn’t weaken the economy - President Tinubu

President Tinubu has likened the state of Nigeria in 2023 to a cancer patient facing difficult but life-saving treatment.

While delivering his speech to mark Nigeria's 66th Independence Day today October 1, the president said 

‘’For too long, the promise of Nigeria was undermined by choices that postponed difficult decisions and allowed deep economic distortions to grow.

By 2023, poverty was rising, and hope was nearly gone. The country's situation was darker than ever. We had no choice but to act.

Nigeria was like a sick patient who receives the terrible news that he has cancer. His doctor explains that the treatment will be difficult and painful, but that it offers a strong prospect of recovery. The patient has a choice. He can begin treatment, endure its discomfort and fight the disease. Or he can ask only for morphine, dull the pain and leave the cancer to spread.

For too long, Nigeria's leaders chose morphine while praying for a miracle that never came.

They focused on symptoms while allowing the disease to take hold deep within the fabric of our society. We spent enormous sums sustaining inefficient arrangements that were never intended to last. We hid from difficult truths and passed the consequences from one generation to the next.

When this Administration assumed office, we resolved to do things differently. We chose to excise the cancer. The reforms that followed were difficult. The side effects were real. Yet, we must never confuse the medicine with the disease.

Our reforms did not create the weaknesses in our economy. They confronted them. Now, as certain influential but regressive voices would have us abandon the treatment and return ourselves to the abuse of addictive subsidies, we must resist their siren song. We must remember why we began this journey and how far we have already come.

Three and a half years later, the evidence that Nigeria's economic outlook has improved is undeniable. Our economy has grown by over 4 per cent this year. Both oil and non-oil sectors have contributed to the renewed period of stable growth.

Oil theft is down. Inflation has fallen substantially from its peak. Our foreign reserves have been rebuilt, our foreign exchange market has stabilised, and in 2025 this country recorded its highest revenue from non-oil exports in its history, exceeding $6 billion. This is real money being made by real Nigerian businesses.''