President Bola Ahmed Tinubu has claimed significant progress in stabilising Nigeria’s economy, highlighting the appreciation of the naira from N1,900 to N1,450 against the US dollar since he assumed office.
Speaking on Tuesday during a meeting with members of The Buhari Organisation (TBO) a group of political leaders from the defunct Congress for Progressive Change (CPC) at the Presidential Villa in Abuja, Tinubu said the naira’s recovery reflects a healthier economy with improved fiscal discipline.
“The economy has stabilised, and nobody is trading a piece of paper for exchange rate anymore,” Tinubu stated. “When I took over, it was N1,900 to a dollar. It’s now N1,450. It’s been stabilising there. You don’t have to know Cardoso before you get your foreign exchange.”
The president added that his administration had already surpassed its 2024 revenue targets without resorting to borrowing, and reaffirmed a commitment to economic reforms, job creation, and agricultural development.
He announced an upcoming mechanised farming initiative that would establish agricultural hubs, provide training, and generate employment opportunities across the country.
Addressing concerns about potential impacts from U.S. trade policy under Donald Trump, Tinubu dismissed fears, citing Nigeria’s growing non-oil revenue base and economic diversification efforts.
“If non-oil revenue is moving in the right direction, then we have nothing to fear about whatever Trump is doing on the other side,” he remarked.
The TBO delegation, led by former Nasarawa State Governor Tanko Al-Makura and House of Representatives Speaker Abbas Tajudeen, pledged their full support for Tinubu and his potential re-election bid in 2027.
Tinubu, in turn, expressed appreciation for their loyalty and reaffirmed his longstanding alliance with the late President Muhammadu Buhari. He also pledged to immortalise Buhari by constructing a “Buhari House.”
