2025 revenue target met, no more borrowing –Tinubu

President Bola Tinubu has stated that his administration has achieved its 2025 revenue target ahead of schedule, crediting improved non-oil performance and reforms aimed at stabilising the economy.

Speaking at the Presidential Villa in Abuja during a meeting with former members of the defunct Congress for Progressive Change (CPC), Tinubu declared: “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.”

The president said non-oil revenues had provided a buffer against external shocks, adding that the naira had gained ground, strengthening from 1,900 to 1,450 to the US dollar. “The economy is stabilised; nobody is trading pieces of paper for exchange rate anymore,” he said.

Tinubu outlined plans for nationwide agricultural mechanisation, which he described as key to achieving food security and reducing poverty. “If we remove hunger, we have defeated poverty,” he said, linking the initiative to his administration’s Renewed Hope Agenda focused on jobs, exports and industrial growth.

He also paid tribute to his predecessor, Muhammadu Buhari, pledging to honour him with a “Buhari House” to reflect his values of honesty and transparency.

Former CPC members present at the meeting, including Senator Tanko Al-Makura and House Speaker Tajudeen Abbas, praised Tinubu’s leadership and pledged to back his 2027 re-election bid.

However, opposition critics and some economists challenged Tinubu’s claims, citing a sharp contraction in the gross domestic product, from $363 billion in 2023 to $187 billion in 2024. They argue his reforms have increased hardship despite revenue gains.

Tinubu, however, maintained that his government was steering the economy in the right direction. “We know the direction we should go. We are going home,” he said.