Tinubu: Nigeria won’t need to borrow after reaching 2025 revenue target
Bola Tinubu, Nigeria’s president, announced on Tuesday that the country has achieved its 2025 revenue target by August, a development he says will eliminate the need for future borrowing.
Tinubu made this claim during a meeting at the Presidential Villa with founding members of the defunct Congress for Progressive Change (CPC) and The Buhari Organisation, led by the former Governor of Nasarawa State, Umaru Tanko Al-Makura.
According to the Nigerian leader, the early achievement of the revenue target is a direct result of economic reforms aimed at boosting the non-oil sector.
“The economy is now stabilised,” Tinubu stated.
“Nobody is trading pieces of paper for foreign exchange (forex) anymore. The economy is now predictable. You do not need to know the CBN Governor, Yemi Cardoso, to obtain foreign exchange or import goods.”
He emphasised that the next priority is to focus on creating jobs and boosting exports.
“What we need now is building the ship and the vessels for the export of our goods and creating more jobs for our people,” the President noted.
To address food security, Tinubu said the federal government plans to establish agricultural mechanisation centres across all regions of the country.
These centres, he noted, will be used for training, with the goal of expanding cultivation and ensuring food sovereignty.
“We are going to have trainees. That programme is our path to food sovereignty,” he said.
Reflecting on his political history with the CPC, Tinubu described their journey and merger as a “sweet memory,” and expressed his gratitude for their support.
Tinubu also assured the group that the legacy of former President Muhammadu Buhari would be preserved with the establishment of a “Buhari House.”
He promised to provide more opportunities for members of the old CPC to participate in his government.
“Thank you for your patience until now,” he said.
“But first of all, we must cure the economy and bring hope to the people, which is what we stand for.Thank you for believing in me.”
