President Bola Tinubu has pledged his administration’s resolve to deepen global engagement and intensify the fight against terrorism and criminality.
The President spoke shortly after an economic briefing by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who reported during the Federal Executive Council meeting on Thursday that the administration’s reform agenda continues to stimulate investor confidence and deliver notable economic gains.
According to the President, the government remains firmly committed to moving the country forward under the Renewed Hope Agenda, despite prevailing political and security pressures.
He also acknowledged the scale of the security and economic challenges confronting the nation.
“The task ahead is immense. But we are resolved to move forward with unity and purpose, to defeat terrorism and build a prosperous, inclusive, and resilient Nigeria,” he said.
President Tinubu said the Eurobond’s oversubscription, despite political anxieties, underlined global faith in Nigeria’s fundamentals.
“Despite the political headwinds and fears, our partners have continued to engage with confidence,” he said.
Edun had expressed gratitude to the President and cabinet members for their support during his recent illness, explaining that the ongoing reforms, though challenging, were driven by a clear objective to build a competitive economy that creates jobs and lifts millions out of poverty.
According to the minister, Nigeria’s Gross Domestic Product (GDP) grew by 4.23 per cent in Q2 2025, the strongest expansion in a decade outside the post-COVID-19 rebound.
He said 13 sectors expanded by more than seven per cent, up from nine in the previous quarter, evidence of broad-based resilience.
He noted that the industrial sector nearly doubled its growth from 3.72 per cent to 7.45 per cent, reflecting rising productivity and renewed investor interest.
Speaking further, Edun said inflation declined to 18 per cent last December, while foreign reserves exceeded $43 billion, and the trade surplus climbed to N7.4 trillion, signalling strengthened external buffers.
According to him, the new consumer-spending data showed Nigerians now spend about half of their income on basic needs, compared with nearly 90 per cent previously, indicating a gradual transition from subsistence to improved living standards and enhanced productivity.
He further described Nigeria’s recent removal from the Financial Action Task Force (FATF) grey list as a major confidence boost for the financial sector, noting that global institutions, including the IMF and World Bank, had acknowledged the country’s reform momentum through upgraded growth projections and improved credit ratings.
The minister also cited Tuesday’s €2.35 billion Eurobond issuance, which attracted over $13 billion in investor orders, as a testament to strong global confidence in Nigeria’s economic trajectory and the President’s leadership.
He stressed the need to mobilise greater domestic and foreign investment to achieve the administration’s target of a $1 trillion economy by 2030, noting that growth must reach seven per cent annually by 2027.
