President Bola Tinubu has declared that Nigeria has already met its revenue target for the year — and achieved it by August — affirming that the country’s economy is now stable, resilient, and less vulnerable to external shocks.
The President made this known while receiving a delegation of former Congress for Progressive Change (CPC) members at the Presidential Villa in Abuja. The delegation comprised governors, lawmakers, and other political leaders across the federation.
“Today, I can stand before you to brag — Nigeria is not borrowing. We have met our revenue target for the year, and we met it in August,” Tinubu said.
He attributed this progress to improved non-oil revenue performance, asserting that Nigeria had no reason to fear international economic developments. He cited robust mechanisms already in place to keep the nation on course.
“If non-oil revenue is going well, then we have no fear,” Tinubu stated.
According to him, when he took over, the exchange rate ballooned to ₦1,900 to the dollar. But thanks to reforms and fiscal discipline, the rate has stabilised around ₦1,450, without needing elite-level backchannel connections to the Central Bank.
“Nobody is trading pieces of paper for the exchange rate anymore. You don’t have to know a CBN governor to get forex. All you have to do is export, import, and create jobs for the people,” he said.
Tinubu noted that his administration is focused on “fixing the economy” and “bringing hope to the people,” describing agriculture as the backbone of Nigeria’s long-term food security plan.
He revealed that he had just signed off on a major agricultural mechanisation programme that will be deployed in every region, complete with training centres and support infrastructure.
“We are doing mechanisation and training — that is our backbone: food sovereignty, food security. If we remove hunger, we have defeated poverty,” he said.
Addressing the CPC bloc directly, the President assured them of his continued commitment to their shared ideals, while acknowledging the delays in political appointments.
He noted that ambassadorial positions were still available but insisted that fixing the economy was his primary focus.
“I couldn’t appoint everybody at once, and thank you for your patience. I still have some slots for ambassadorial positions that so many people crave. But it’s not easy stitching those names,” he said.
Tinubu spoke warmly of his long-standing political relationships with the CPC bloc, recalling the early days of the APC merger talks.
“You brought back the memory of the beginning of the alliance. When we sat down to fashion out which way. We disagree. We even argued on a symbol — he (Buhari) insisted on parliament, and I insisted on a broom. He’s so stubborn,” Tinubu joked.
Reflecting on his commitment to building on the legacies of the late President Muhammadu Buhari, Tinubu praised the virtues of honesty, justice, and discipline that he said he inherited from his predecessor.
