President Bola Ahmed Tinubu has announced that Nigeria has achieved 12 significant economic milestones under his administration, as revealed in his 65th Independence Day nationwide broadcast. The milestones include record-breaking non-oil revenue, restored fiscal health, and a stronger foreign reserve position.
The administration has attained a notable increase in non-oil revenue, reaching the 2025 target of N20 trillion by August, with a significant rise of 411% in September 2025 compared to May 2023. The debt service-to-revenue ratio has been reduced from 97% to below 50%, and the “Ways and Means” advances have been paid down. The removal of the fuel subsidy has freed up trillions of Naira for investment in the real economy and social programs.
Nigeria’s foreign reserve has increased to $42.03 billion, the highest since 2019, and the tax-to-GDP ratio has risen to 13.5% from less than 10%. The country has become a net exporter, recording a trade surplus for five consecutive quarters, with a 44.3% increase in Q2 2025. Oil production has rebounded to 1.68 million barrels per day, and the Naira has stabilized, with the gap between the official and unofficial market rates reduced substantially.
Other notable achievements include the disbursement of N330 billion to eight million households under the social investment program, a dramatic recovery in coal mining, and significant growth in the transport infrastructure sector. The administration’s efforts have also led to an upgrade in sovereign credit rating and a boom in the stock market, with the all-share index rising to 142,000 points.
The Central Bank has slashed interest rates for the first time in five years, expressing confidence in the country’s macroeconomic stability. These economic milestones demonstrate the administration’s progress in achieving its economic goals and improving the country’s overall economic performance. The international community is taking notice of Nigeria’s efforts, with sovereign credit rating agencies recognizing the country’s improved economic fundamentals.
