In a significant address to the Federal Executive Council on Thursday in Abuja, President Bola Tinubu emphasized Nigeria’s commitment to diplomatic engagement and the nation’s ongoing path toward stability and prosperity. His remarks came shortly after the swearing-in of two new ministers: Dr. Bernard Mohammed Doro, who will lead the Ministry of Humanitarian Affairs and Poverty Reduction, and Dr. Kingsley Tochukwu Udeh (SAN), appointed to head the Ministry of Innovation, Science, and Technology.
Highlighting the current economic climate and Nigeria’s relationship with the United States, President Tinubu expressed optimism regarding the country’s growth trajectory. He noted the overwhelming success of Nigeria’s recent $2.3 billion eurobond issuance, which was oversubscribed by an impressive 400%. This achievement, he said, reflects the international community’s confidence in Nigeria’s economic reforms and resilience amid political challenges.
“The most critical takeaway is that despite the political headwinds and the fears that may exist among our populace, we are committed to engaging with our global partners,” President Tinubu stated.
“The journey ahead is challenging, but we are united in our efforts and driven by our Renewed Hope Agenda to create a prosperous, inclusive, and resilient Nigeria.”
Addressing the ongoing security challenges, President Tinubu, as Commander-in-Chief of the Armed Forces, urged Nigerians to remain hopeful, assuring them of the government’s resolve to defeat terrorism and ensure the safety of all citizens. He emphasized the importance of a cohesive approach among ministers and officials, advocating for unified communication to foster public confidence.
“Yes, we face challenges. Yes, terrorism poses a threat. However, our commitment to overcoming these obstacles remains firm. We are one Nigeria, and we will leave no stone unturned in our quest to eliminate crime and terrorism,” he affirmed.
During the Council meeting, the President directed Minister of Finance and Coordinating Minister of the Economy, Wale Edun, to present updates on the nation’s economic performance. Edun reported encouraging macroeconomic indicators, noting that Nigeria’s GDP growth in Q2 of 2025 reached 4.23%, marking the highest rate outside of the COVID-19 rebound in a decade. This growth was fueled by significant advancements in the industrial sector and increased investor confidence.
“The ambitious reforms under the Renewed Hope Agenda, though sometimes bold and unpopular, are essential for cultivating a competitive economy that generates jobs and alleviates poverty,” Edun stated.
“Our goal of achieving a $1 trillion economy by 2030 is attainable through sustained annual growth of 7% and a commitment to ending poverty.” He added
He also highlighted Nigeria’s recent removal from the Financial Action Task Force Grey List as a crucial step in enhancing financial integrity and attracting investors. This progress, he observed, has garnered international acclaim during the World Bank/IMF annual meetings.
In a call for collaborative efforts, Edun urged ministers responsible for key sectors to work closely with sub-national governments to create attractive projects for investors. “We must optimize every Naira and navigate the current constraints in global liquidity. The next phase of our reforms will focus on removing barriers to investment and stimulating productivity,” he added.
The robust investor enthusiasm, exemplified by the recent euro-bond issuance that drew orders exceeding $13 billion, signals a strong belief in Nigeria’s economic fundamentals, despite prevalent political uncertainties.
As Nigeria charts its future, the government remains steadfast in its mission to build a prosperous, inclusive society where every citizen thrives.
Leave a comment