Tinubu Reaffirms Commitment to Defeating Terrorism, Driving Economic Reforms

President Bola Tinubu has restated his administration’s determination to strengthen national security and sustain the country’s economic recovery, despite mounting political and security challenges.

The president spoke on Thursday after receiving a briefing from the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, during the Federal Executive Council (FEC) meeting in Abuja.

Tinubu said the government remains focused on its “Renewed Hope Agenda,” promising to build a more inclusive and resilient Nigeria.

“The task ahead is immense,” he said. “But we are resolved to move forward with unity and purpose, to defeat terrorism and build a prosperous, stable, and productive nation.”

Economic Confidence and Reform Gains

The president highlighted the recent oversubscription of Nigeria’s €2.35 billion Eurobond, which drew over $13 billion in investor interest, describing it as a sign of international confidence in Nigeria’s economic direction.

“Despite political headwinds and anxieties, our global partners have continued to engage with confidence,” Tinubu said.

In his presentation, Edun reported that the ongoing reform efforts were beginning to yield results across key sectors. He said Nigeria’s Gross Domestic Product (GDP) grew by 4.23 percent in the second quarter of 2025, the strongest non-rebound growth since 2015.

He added that 13 sectors expanded by more than seven percent, compared to nine in the previous quarter, while industrial growth nearly doubled from 3.72 to 7.45 percent.

According to Edun, these figures reflect renewed investor activity and improved productivity under Tinubu’s reform measures.

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Improving Fiscal Stability

The minister also noted that inflation slowed to 18 percent as of December 2024, while foreign reserves rose to $43 billion. He said Nigeria’s trade surplus climbed to N7.4 trillion, signalling stronger external buffers.

He further disclosed that consumer spending data showed Nigerians now allocate about half of their income to basic needs, down from nearly 90 percent, suggesting gradual improvement in living standards.

Edun described Nigeria’s recent removal from the Financial Action Task Force (FATF) grey list as another sign of progress, adding that the IMF and World Bank had upgraded the country’s growth outlook in response to reform momentum.

He reiterated the government’s ambition to build a $1 trillion economy by 2030, with an annual growth target of seven percent by 2027.