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President Bola Tinubu on Thursday reaffirmed his administration’s commitment to global diplomatic engagement, expressing confidence that Nigeria will overcome terrorism and other security challenges. Speaking before the commencement of the Federal Executive Council (FEC) meeting at the Presidential Villa, Abuja, Tinubu said the government was determined to pursue unity and progress under the Renewed Hope Agenda despite political headwinds. “The most important thing is that despite political headwinds and public apprehensions, we will continue to engage our partners. The success of the $2.3 billion bond, which was oversubscribed, is significant at this stage,” the President said. “We are engaging the world diplomatically, and I assure all of you that we will defeat terrorism in the country. The task ahead is immense, but we are resolved to move forward with unity and purpose, guided by the Renewed Hope Agenda to build a prosperous, inclusive, and resilient Nigeria.” Earlier, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, presented an update on the administration’s economic reforms, noting that recent indices reflect growing investor confidence and macroeconomic stability. He said: “In Q2 2025, Nigeria’s GDP grew by 4.23 percent, the highest in a decade outside the COVID-19 rebound. Thirteen sectors recorded growth above 7 percent, up from nine in the previous quarter, showing broad-based resilience. “The industrial sector nearly doubled its growth from 3.72 percent to 7.45 percent, reflecting rising productivity and investor confidence. Inflation eased to 18 percent in December, while foreign exchange reserves topped $43 billion, and our trade surplus reached ₦7.4 trillion—clear signs of macroeconomic stability.” Edun further stated that Nigeria’s removal from the Financial Action Task Force (FATF) grey list marked a milestone in restoring global financial confidence. He noted that at the recent World Bank/IMF Annual Meetings, global leaders commended Nigeria’s reform progress, with the IMF revising its growth forecast for Nigeria upward to nearly 4 percent and improved credit ratings for the country. “Yesterday’s hugely successful $2.35 billion Eurobond issuance, which attracted orders exceeding $13 billion, is a testament to continued investor confidence in our reform agenda and Mr. President’s leadership. Despite political noise, investors focused on Nigeria’s strong economic fundamentals,” Edun said. He reiterated the government’s target of achieving a $1 trillion economy by 2030, emphasizing that the country must accelerate growth to 7 percent per annum by 2027 to eradicate poverty. “To attain this trajectory, we must attract large-scale domestic and foreign investments. Ministers in key sectors, including infrastructure, mining, education, health, agriculture, blue economy, and digital innovation, must collaborate with state governments to identify and develop investment-ready projects,” he added. Edun also disclosed that the government plans to review tariffs and import restrictions and remove barriers to investment as part of ongoing economic reforms designed to drive inclusive growth and job creation.
