By Atoyebi Nike
President Bola Ahmed Tinubu says Nigeria’s economy is firmly on the path of recovery, with reforms introduced over the last two years beginning to yield measurable results.
In a nationwide broadcast to mark Nigeria’s 65th Independence Anniversary on Wednesday, Tinubu revealed that the country’s external reserves rose to $42.03 billion in September 2025, the highest level since 2019. He also announced a second-quarter GDP growth of 4.23% Nigeria’s fastest pace in four years exceeding the IMF’s projection of 3.4%.
The President noted that inflation dropped to 20.12% in August, the lowest in three years, while trade surpluses have been recorded for five consecutive quarters, signalling Nigeria’s emergence as a net exporter. Non-oil exports, he said, now account for 48% of the country’s trade.
Tinubu highlighted the Naira’s stability, a rebound in oil production to 1.68 million barrels per day, record non-oil revenue of over N20 trillion, and reduced debt service-to-revenue ratio as proof that reforms are strengthening fiscal and monetary stability.
He added that coal mining and transport sectors are witnessing strong growth, while rail, road, and coastal highway projects are advancing. He also cited the disbursement of N330 billion to eight million vulnerable households under social investment programmes.
“The worst is behind us,” Tinubu declared. “Our economy is more resilient, our currency more stable, and our future more secure. The world is taking notice.”
