President Bola Ahmed Tinubu has declared that Nigeria’s economy has stabilised, with the government meeting its 2024 revenue target ahead of schedule and no longer needing to rely on borrowing to fund its programmes.
Speaking while receiving members of The Buhari Organisation (TBO), a political group of leaders from the defunct Congress for Progressives Change (CPC), at the Presidential Villa in Abuja, Tinubu said the target was achieved in August.
“Today, I can stand here before you to brag: Nigeria is not borrowing. We have met our revenue target for the year, and we met it in August,” the President said.
He noted that the foreign exchange market had also stabilised, stressing that the naira had strengthened against the dollar. “When I took over, it was N1,900 to a dollar. It’s N1,450 now. Rates are stabilising now. You don’t have to know a CBN governor … all you have to do is export, import and create jobs for the people,” Tinubu added.
The President reaffirmed that his administration’s focus remained fixing the economy, creating jobs and securing food sovereignty through modernised agriculture. He announced the rollout of a massive mechanisation programme to benefit every region of the country through agricultural centres, training schemes and job opportunities.
Dismissing concerns about the impact of US President Donald Trump’s trade tariffs on Nigeria, Tinubu said his government was building a stronger, diversified economy. “If non-oil revenue is going where it is going, then have no fear of whatever Trump is doing on the other side,” he told his guests.
The delegation, led by former Nasarawa State Governor Tanko Al-Makura and House of Representatives Speaker Abbas Tajudeen, pledged the “unconditional support” of CPC members for Tinubu’s administration and his 2027 re-election bid.
Tinubu expressed gratitude for their loyalty, recalling his political partnership with the late former President Muhammadu Buhari, whom he promised to immortalise by building a “Buhari House.”
“You brought back the memory of the beginning of the alliance when we sat down to fashion out the way to go. We disagreed to agree. We even argued over a symbol. He insisted on parliament, and I insisted on a broom. He was so stubborn,” Tinubu reminisced.
In their tributes, Abbas and Al-Makura praised Tinubu for honouring Buhari with a befitting state burial and for sustaining their shared progressive ideals. Al-Makura described the Tinubu-Buhari alliance as one founded on discipline, justice and unity.
The TBO delegation assured the President of its “full and unwavering support” ahead of the 2027 general election.
