By Mariyah Adamu, Abuja
President Bola Tinubu has said that in the last two years, his administration achieved 12 remarkable economic milestones as a result of the implementation of sound fiscal and monetary policies.
Tinubu, stated this in his nationwide broadcast yesterday.
Tinubu, listed his achievements to include what he described as “a record-breaking increase in non-oil revenue, achieving the 2025 target by August with over N20 trillion. In September 2025 alone, we raised N3.65 trillion, 411% higher than the amount raised in May 2023.
“We have restored Fiscal Health: Our debt service-to-revenue ratio has been significantly reduced from 97% to below 50%. We have paid down the infamous “Ways and Means” advances that threatened our economic stability and triggered inflation. Following the removal of the corrupt petroleum subsidy, we have freed up trillions of Naira for targeted investment in the real economy and social programmes for the most vulnerable, as well as all tiers of government”.
According to him, the administration reforms led to a stronger foreign Reserve position than three years ago, adding that “Our external reserves increased to $42.03 billion this September—the highest since 2019”.
The President “Our tax-to-GDP ratio has risen to 13.5% from less than 10%. The ratio is expected to increase further when the new tax law takes effect in January. The tax law is not about increasing the burden on existing taxpayers but about expanding the base to build the Nigeria we deserve and providing tax relief to low-income earners.
“We are now a Net Exporter: Nigeria has recorded a trade surplus for five consecutive quarters. We are now selling more to the world than we are buying, a fundamental shift that strengthens our currency and creates jobs at home. Nigeria’s trade surplus increased by 44.3% in Q2 2025 to ₦7.46 trillion ($4.74 billion), the largest in about three years. Goods manufactured in Nigeria and exported jumped by 173%. Non-oil exports, as a component of our export trade, now represent 48%, compared to oil exports, which account for 52%. This signals that we are diversifying our economy and foreign exchange sources outside oil and gas.
“Oil production rebounded to 1.68 million barrels per day from barely one million in May 2023. The increase occurred due to improved security, new investments, and better stakeholder management in the Niger Delta. Furthermore, the country has made notable advancements by refining PMS domestically for the first time in four decades. It has also established itself as the continent’s leading exporter of aviation fuel”.
Tinubu, explained that the Naira has stabilised from the turbulence and volatility witnessed in 2023 and 2024. The gap between the official rate and the unofficial market has reduced substantially, following FX reforms and fresh capital and remittance inflows. The multiple exchange rates, which fostered corruption and arbitrage, are now part of history. Additionally, currency rate against the US Dollar is no longer determined by fluctuations in crude oil prices.
Besides, under the social investment programme to support poor households and vulnerable Nigerians, N330 billion has been disbursed to eight million households, many of whom have received either one or two out of the three tranches of the N25,000 each, he said.
Tinubu, pointed out that coal mining recovered dramatically from a 22% decline in Q1 to 57.5% growth in Q2, becoming one of Nigeria’s fastest-growing sectors. The solid mineral sector is now pivotal in the economy, encouraging value-added production of minerals extracted from our soil.
The administration is expanding transport infrastructure across the country, covering rail, roads, airports, and seaports. Rail and water transport grew by over 40% and 27%, respectively. The 284-kilometre Kano-Kastina-Maradi Standard Gauge rail project and the Kaduna-Kano rail line are nearing completion. Work is progressing well on the legacy Lagos-Calabar Coastal Highway and Sokoto-BadagryHighway. The Federal Executive Council recently approved $3 billion to complete the Eastern Rail Project.
Therefore, “The world is taking notice of our efforts. Sovereign credit rating agencies have upgraded their outlook for Nigeria, recognising our improved economic fundamentals. Our stock market is experiencing an unprecedented boom, rising from an all-share index of 55,000 points in May 2003 to 142,000 points as of September 26, 2025.
“At its last MPC meeting, the Central Bank slashed interest rates for the first time in five years, expressing confidence in our country’s macroeconomic stability”, Tinubu said.
The President went on to say that his administration is working diligently to enhance national security, ensuring our economy experiences improved growth and performance. “The officers and men of our armed forces and other security agencies are working tirelessly and making significant sacrifices to keep us safe. They are winning the war against terrorism, banditry and other violent crimes. We see their victories in their blood and sweat to stamp out Boko Haram Terror in North-East, IPOB/ESN terror in South East and banditry and kidnapping”.
Therefore, “We must continue to celebrate their gallantry and salute their courage on behalf of a grateful nation. Peace has returned to hundreds of our liberated communities in North West and North East, and thousands of our people have returned safely to their homes”, he stated.
Commenting on the nation’s youth the President described the as the future and the greatest assets of this blessed country.
In this vein, “You must continue to dream big, innovate, and conquer more territories in your various fields of science, technology, sports, and the art and creative sector. Our administration, through policies and funding, will continue to give you wings to fly sky-high. We created NELFUND to support students with loans for their educational pursuits”.
Approximately 510,000 students across 36 states and the FCT have benefited from this initiative, covering 228 higher institutions. As of September 10, the total loan disbursed was N99.5 billion, while the upkeep allowance stood at N44.7 billion, he stated.
Tinubu, had in the opening of his third independence day broadcast since assuming office on May 29, 2023 said “As we reflect on the significance of this day and our journey of nationhood since October 1, 1960, when our founding fathers accepted the instruments of self-government from colonial rule, let us remember their sacrifice, devotion, and grand dream of a strong, prosperous, and united Nigeria that will lead Africa and be the beacon of light to the rest of the world”.
“Our founding heroes and heroines—Herbert Macaulay, Dr. Nnamdi Azikiwe, Sir Abubakar Tafawa Balewa, Chief Obafemi Awolowo, Sir Ahmadu Bello, Margaret Ekpo, Anthony Enahoro, Ladoke Akintola, Michael Okpara, Aminu Kano, Funmilayo Ransome-Kuti, and other nationalists—believed it was Nigeria’s manifest destiny to lead the entire black race as the largest black nation on earth”, he noted.
