Tinubu Reassures Nigerians on Economic Stability, Security as FEC Meets in Abuja
President Bola Ahmed Tinubu has expressed optimism about Nigeria’s economic trajectory, insisting that ongoing reforms are gaining both local and international confidence. The President spoke on Thursday during the Federal Executive Council (FEC) meeting held at the State House, Abuja, where two newly appointed ministers were sworn into office.
Dr. Bernard Mohammed Doro now heads the Ministry of Humanitarian Affairs and Poverty Reduction, while Dr. Kingsley Tochukwu Udeh (SAN) assumes the role of Minister of Innovation, Science and Technology.
Economic Outlook: “Nigeria is Engaging the World Diplomatically”
Tinubu highlighted recent positive economic indicators, especially Nigeria’s successful $2.3 billion Eurobond issuance, which was oversubscribed by 400 percent — a development he described as a strong vote of confidence in the country’s economic direction.
“Despite the political headwinds and the fears of our people, we will continue to engage with partners. The success of the oversubscribed Eurobond is the most assuring,” he said.
“The task ahead is immense, but it is our resolve to move forward with unity and purpose, guided by the Renewed Hope Agenda.”
The President reiterated his administration’s commitment to strengthening Nigeria’s diplomatic relations, particularly with the United States and other key global partners.
Security: “We Will Defeat Terrorism”
Addressing ongoing security concerns, the Commander-in-Chief charged Nigerians to remain hopeful and united in supporting efforts against terrorism and violent crimes.
“Are we challenged by terrorism? Yes. But we will defeat terrorism. We will overcome the CPC designation. Nigeria is one happy family, and we shall spare no effort until we eliminate all criminals from our society,” he assured.
The President also warned cabinet members against conflicting communications that could distort the government’s messaging.
Finance Minister Highlights Best Economic Performance in a Decade
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, briefed the Council on Nigeria’s economic position, reporting notable improvements driven by the reforms under the Renewed Hope Agenda.
- 4.23% GDP growth in Q2 2025, highest since the COVID recovery
- 13 sectors grew above 7%
- Industrial sector growth rose from 3.72% to 7.45%
- Inflation dropped to 18.02% in September 2025
- FX reserves climbed beyond $43 billion
- Trade surplus hit N7.4 trillion
- Consumer spending on basic needs reduced from nearly 90% to about 50% of income — a shift toward improved living conditions
Edun described Nigeria’s removal from the Financial Action Task Force Grey List as a major boost to economic credibility and investor confidence. He also projected that the nation could achieve a $1 trillion economy by 2030 with sustained 7% annual growth.
“The market shrugged off political concerns and focused on Nigeria’s economic fundamentals,” he added while referencing the strong Eurobond subscription.
Next Phase: Domestic Investment and Inclusive Growth
The Finance Minister urged ministries to collaborate with state governments to attract private capital for priority projects across key sectors including infrastructure, agriculture, health, digital innovation, mining, culture and the blue economy.
He emphasized that every Naira must be optimised to sustain growth momentum as global financial conditions tighten.
“The next phase of reforms will remove barriers holding back investors. We will review tariffs and import restrictions to stimulate productivity,” Edun concluded.