President Bola Tinubu has announced that Nigeria met its revenue target for 2025 ahead of schedule, achieving this milestone by August. As a result, the country will no longer rely on borrowing to fund its budget.
The president attributed this success to his administration’s strategic focus on boosting non-oil revenue, which has diversified Nigeria’s income sources and reduced its dependence on crude oil exports. This approach has helped build a more resilient economy less vulnerable to global oil price fluctuations.
Tinubu also highlighted the stabilisation of the national currency, noting that the naira has appreciated significantly against the US dollar, moving from over N1,900 to approximately N1,450 since the unification of foreign exchange windows. This stability has made the economy more predictable for businesses.
The achievement means Nigeria can now fund its record N28.78 trillion budget without needing to take on new debt. The government’s revenue target for 2025 was set at N18.32 trillion, comprising both oil and non-oil income.
Despite external challenges such as US trade policies under President Donald Trump, which imposed a 15% duty on Nigerian imports, Tinubu expressed confidence that the country’s diversified revenue base would shield it from adverse impacts.
The president also outlined plans for agricultural mechanisation, with training centres across all regions, as part of efforts to achieve food security and ultimately defeat poverty. He emphasised that removing hunger is key to overcoming poverty.
Tinubu made these statements during a meeting with members of The Buhari Organisation, a political group consisting of leaders from the defunct Congress for Progressives Change. The group pledged their full support for his administration and the 2027 re-election bid.
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