President Bola Tinubu, on Tuesday said Nigeria has achieved its 2025 revenue target ahead of schedule and will no longer rely on local borrowing to fund its budget.
Speaking at the Presidential Villa in Abuja during a reception for members of the defunct Congress for Progressive Change (CPC), Tinubu attributed the success to increased non-oil revenue and reforms implemented by his administration since taking office in May 2023.
“We have met our revenue target for the whole year, and we met it in August. Nigeria is not borrowing a dime from local banks, ” he said.
The president emphasised that the economy has stabilised, with a predictable exchange rate and no need for special favours to access foreign exchange.
“Nobody is trading pieces of paper for foreign exchange anymore,” Tinubu said, adding that the focus now is on building infrastructure for export and creating jobs.
Tinubu revealed plans to establish agricultural mechanisation centers across all regions to boost food production, ensure food sovereignty, and create training opportunities.
“If we remove hunger, we have defeated poverty,” he stated, highlighting the importance of this initiative.
Earlier, the CPC, led by former Nasarawa State Governor Tanko Al-Makura, pledged massive support for the ruling All Progressives Congress (APC) in the 2027 general elections.
They commended Tinubu for steering the country through challenging economic times and honoring the memory of former President Muhammadu Buhari.
