(MENAFN) Nigerian President Bola Ahmed Tinubu celebrated the country's 65th Independence Day with a speech honoring founding leaders with a report on reforms, which he asserts have prevented Africa's most populated country from economic crash.

On Wednesday in Abuja, President Tinubu stated that the reforms rolled out since May 2023, such as scrapping fuel subsidies and devaluing the naira (the currency of Nigeria), are now proving effective. These changes had been the subject of extensive rallies in the West African country due to the escalating cost of living.

The Leader stated that “our administration inherited a near-collapsed economy caused by decades of fiscal policy distortions and misalignment that had impaired real growth.”
He further stated that his administration decided on reforms instead of “business as usual,” because it was prioritizing long-term stability.

Tinubu said that “less than three years later... I am pleased to report that we have finally turned the corner. The worst is over.”

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