As the rebels inch closer to victory, toppling Muammar Qaddafi's regime President Obama addressed the nation at 2PM EST, reports CNN. The President will also meet with his National Security Council this afternoon to discuss the situation. We'll update with content of Obama's remarks as it comes in from the travel pool coverage. Below listen to Obama's audio-only statement.

In his statement President Obama addressed both Americans and Libyans, reports Politico. "This much is clear: The Qadhafi regime is coming to an end." As rebels topple the regime, Obama encourages democracy. "Your courage and character have been unbreakable in the face of a tyrant." And he reminded Libyans that the US "will be a friend and a partner," especially as they "bring about a transition that’s peaceful, inclusive and just."

He also reminded Americans that the victory came with little cost to the United States. "all of this was done without putting a single U.S. troop on the ground."

But while Qaddafi may no longer rule, the fight isn't over. "The situation is still very fluid. There are still regime elements that pose a threat."

He asked his advisers to "be in close contact with NATO" and the United Nations to ensure that supplies reach those in need. "Above all, we will call for an inclusive transition that leads to a democratic Libya."

Read the full transcript of Obama's speech here.

Find our full coverage of Libya here.

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