By George Ozalla
President Bola Tinubu has reaffirmed that Nigeria remains firmly on a growth trajectory, with clear signs of economic stability and global confidence in ongoing reforms. Speaking at Thursday’s Federal Executive Council meeting in Abuja after the swearing-in of two new ministers, the President said the Federal Government is sustaining robust diplomatic engagement and deepening international economic relations.
According to a press statement signed by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, Tinubu emphasized that Nigeria’s engagement with global partners continues to yield positive outcomes. He pointed to the recent $2.3 billion Eurobond issuance, which was oversubscribed by 400 percent, as evidence of renewed investor confidence in the country’s economic direction.
“The most important thing is that despite political headwinds and the fears of our people, we will continue to engage with partners,” the President said. “The success of the $2.3 billion Eurobond is most assuring. We are engaging the world diplomatically, and we assure everyone that we will defeat terrorism in this country.”
President Tinubu charged Nigerians to remain hopeful and resilient, assuring that his administration will not relent in the fight against insecurity. “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,” he stated. He also called on ministers and top officials to maintain consistency in public communication and avoid discordant messages.
During the meeting, the President directed the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, to brief the Council on the state of the economy.
According to Edun, the Nigerian economy has recorded its strongest performance in a decade, with GDP growing by 4.23 percent in the second quarter of 2025. He reported that thirteen sectors grew above seven percent, compared to nine in the previous quarter, while industrial sector growth nearly doubled from 3.72 to 7.45 percent. Inflation, he added, dropped to 18.02 percent in September, foreign reserves rose to $43 billion, and the trade surplus reached N7.4 trillion.
Edun said these indicators reflect Nigeria’s transition from subsistence to productivity. “Our citizens now spend about half of their income on basic needs, compared to almost 90 percent previously. This signals a move towards productivity and affluence,” he said.
He noted that Nigeria’s removal from the Financial Action Task Force Grey List was a major boost to financial integrity and confidence, adding that global institutions have acknowledged the country’s progress. “At the recent World Bank and IMF meetings, leaders commended our reforms and revised Nigeria’s growth forecast to nearly 4 percent, alongside improved credit ratings,” he said.
Edun also highlighted the successful Eurobond issuance, stating that the $2.35 billion offering attracted orders worth over $13 billion, a clear sign of investor faith in the administration’s reforms.
He urged sectoral ministers to collaborate with sub-national governments to identify viable projects for investment and infrastructure development. “Every Naira must be optimised to sustain momentum amid global liquidity constraints. The next phase of reforms will remove barriers to investment and stimulate productivity,” he said.
President Tinubu’s address reaffirmed his administration’s commitment to the Renewed Hope Agenda, anchored on unity, economic stability, and inclusive national growth.
Dr Bernard Mohammed Doro and Dr Kingsley Tochukwu Udeh (SAN), who were sworn in before the meeting, will oversee the Ministries of Humanitarian Affairs and Poverty Reduction, and Innovation, Science and Technology, respectively.
