President Bola Ahmed Tinubu has said Nigeria remains on a steady path of growth and stability, with economic reforms under his administration gaining increasing national and international confidence.
The President made the statement on Thursday during the Federal Executive Council (FEC) meeting at the State House, Abuja, following the swearing-in of two new ministers, Dr. Bernard Mohammed Doro as Minister of Humanitarian Affairs and Poverty Reduction, and Dr. Kingsley Tochukwu Udeh (SAN) as Minister of Innovation, Science and Technology.
According to a press release issued by Bayo Onanuga, Special Adviser to the President on Information and Strategy, President Tinubu assured that despite political and economic challenges, the Federal Government continues to engage the world diplomatically to attract investment and strengthen partnerships.
“The most important thing is that despite the political headwinds and the fear of our people, we will continue to engage with partners,” he said. “The success of the $2.3 billion Eurobond, which was oversubscribed by 400%, is most assuring. The task ahead is immense, but we are engaging the world diplomatically, and we assure all Nigerians that we will defeat terrorism in this country.”
The President reaffirmed his administration’s commitment to the Renewed Hope Agenda, emphasizing the need for consistency in government communication and unity of purpose across ministries.
“Do we have problems? Yes. Are we challenged by terrorism? Yes. But we will defeat terrorism. Nigeria is one happy family, and we shall spare no effort until we eliminate all criminals from our society,” Tinubu said.
During the meeting, the President directed the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, to brief the Council on Nigeria’s economic performance.
Edun reported that the economy had recorded its strongest growth in a decade, with a 4.23% GDP growth rate in the second quarter of 2025. He added that 13 sectors experienced growth above 7%, up from nine sectors in the previous quarter.
According to the minister, inflation eased to 18.02% in September 2025, while foreign reserves rose to $43 billion and the trade surplus reached ₦7.4 trillion — clear indicators of improved macroeconomic stability.
“The reforms under the Renewed Hope Agenda, though bold and sometimes unpopular, are achieving their objective of building a competitive economy that attracts investment, creates jobs, and lifts millions out of poverty,” Edun said.
He projected that Nigeria’s vision of achieving a one-trillion-dollar economy by 2030 was attainable through sustained reforms and a focus on job-rich growth.
Edun also noted that Nigeria’s removal from the Financial Action Task Force (FATF) Grey List had restored investor confidence, adding that the $2.35 billion Eurobond issuance oversubscribed by more than $13 billion reflected strong international trust in Nigeria’s economic fundamentals.
“At the recent World Bank and IMF meetings, global leaders commended our reforms and progress. Despite political headwinds, the market focused on the economic fundamentals of Nigeria,” Edun said.
He urged ministries overseeing infrastructure, mining, education, health, agriculture, the blue economy, and innovation to collaborate with sub-national governments to identify and develop projects capable of attracting investment.
“Every naira must be optimized to sustain momentum amid global liquidity constraints. Where there is less funding from multilateral institutions, we must rely on our own resources,” he added.
President Tinubu reiterated his resolve to sustain reforms, strengthen diplomatic relations, and ensure national security as part of his administration’s drive toward economic transformation and unity.
