President Bola Tinubu says Nigeria’s economic reforms are gaining strong global confidence, positioning the country for sustained stability and prosperity.
Speaking at Thursday’s Federal Executive Council (FEC) meeting in Abuja after swearing in two new ministers — Dr. Bernard Mohammed Doro (Humanitarian Affairs) and Dr. Kingsley Tochukwu Udeh (Science and Innovation) — the President said the Federal Government is actively strengthening diplomatic and economic relations worldwide, including with the United States.
Tinubu cited Nigeria’s recently oversubscribed $2.3 billion Eurobond — by over 400 percent — as proof of growing investor confidence.
“The task ahead is immense, but we are engaging the world diplomatically,” he said. “We will defeat terrorism in this country. We will move forward with unity and purpose, guided by the Renewed Hope Agenda to build a prosperous, inclusive and resilient Nigeria.”
On security, the President urged Nigerians to resist fear, while stressing that government remains committed to eliminating terrorism and protecting citizens across the country. He also warned cabinet members against contradictory messaging.
Finance and Economy Coordinating Minister, Wale Edun, briefed the Council on economic performance, highlighting positive trends including rising GDP, improved industrial output and easing inflation.
Edun reported that:
GDP grew by 4.23% in Q2 2025, the highest in a decade outside the post-COVID rebound
13 sectors recorded more than 7% growth
The industrial sector nearly doubled its growth to 7.45%
Inflation moderated to 18.02% in September 2025
Foreign reserves climbed above $43 billion
Nigeria’s trade surplus hit N7.4 trillion
He added that Nigerians now spend significantly less of their income on basic needs — a sign of growing purchasing power — and said the government is rapidly moving toward a $1 trillion economy by 2030.
Edun noted that Nigeria’s removal from the FATF Grey List, improved IMF growth outlook and better credit ratings underscore confidence in Tinubu’s reforms.
Following Wednesday’s successful $2.35 billion Eurobond issuance — with investor orders reaching over $13 billion — Edun said Nigeria must intensify domestic resource mobilization and drive infrastructure and job-rich growth.
He urged ministries to work with states to develop bankable projects that meet investor expectations:
“Every Naira must be optimised to sustain momentum amid global liquidity constraints. Where external funding tightens, we must depend on ourselves.”
The FEC meeting continued with discussions on sustaining economic gains and boosting reform implementation across sectors.