Tinubu Advocates for Economic Prosperity in Nigeria

During the second edition of the Asiwaju Scorecard Series/Asiwaju Policy Roundtable held on Tuesday in Abuja, President Bola Tinubu, represented by Prof. Nentawe Yilwatda, the National Chairman of the All Progressives Congress (APC), stated that his administration must translate macroeconomic stability into microeconomic prosperity. He noted that upon assuming office on May 29, 2023, Nigeria faced significant economic challenges, including fuel subsidy distortions and foreign-exchange shortages.

Tinubu highlighted the removal of the fuel subsidy and reforms in the foreign-exchange market as necessary decisions. He reported that Nigeria's gross external reserves rose to approximately $52.7 billion by August 2026, and non-oil revenue increased from about N13.63 trillion in 2023 to N16.4 trillion in the first two quarters of 2026.

Tinubu also mentioned improvements in trade, with a merchandise trade surplus of about N7.54 trillion in the first quarter of 2026. He reiterated that macroeconomic stability is foundational for achieving a $1 trillion economy, emphasizing the importance of infrastructure development.