Tinubu: Nigeria Meets 2025 Revenue Target Ahead of Schedule

President Bola Ahmed Tinubu has announced that his administration met Nigeria’s 2025 revenue target in August, four months before the end of the year. He attributed the achievement to reforms aimed at economic stability and stronger non-oil revenue performance.

Speaking at the Presidential Villa, Abuja, during a meeting with former members of the defunct Congress for Progressive Change (CPC), Tinubu said the country had stopped borrowing from local banks.

“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 declared.

Tinubu noted that the rebound in non-oil earnings helped shield the economy from external shocks, stressing that the naira had appreciated from ₦1,900 to ₦1,450 against the US dollar. “The economy is stabilised; nobody is trading pieces of paper for exchange rate anymore,” he added.

The president also outlined plans for nationwide agricultural mechanisation as part of efforts to guarantee food security and tackle poverty. “If we remove hunger, we have defeated poverty,” he said, linking the initiative to his Renewed Hope Agenda focused on jobs, exports, and industrial growth.

He further pledged to honour former President Muhammadu Buhari by establishing a “Buhari House” to reflect his values of honesty and transparency.

Prominent CPC stakeholders at the meeting, including Senator Tanko Al-Makura and Speaker of the House of Representatives Tajudeen Abbas, lauded Tinubu’s leadership and vowed to support his 2027 re-election bid.

However, critics have disputed Tinubu’s claims, pointing to a sharp contraction in Nigeria’s gross domestic product, which dropped from $363 billion in 2023 to $187 billion in 2024. They argue that while government revenues may be improving, economic reforms have worsened hardship for many Nigerians.

Tinubu, nevertheless, insisted his government was on the right path. “We know the direction we should go. We are going home,” he affirmed.