
President Bola Tinubu has declared that Nigeria is no longer borrowing domestically and has already achieved its revenue target for the year.
He made this known while hosting members of the defunct Congress for Progressive Change (CPC), led by former Nasarawa State Governor, Tanko Al-Makura.
“We have met our revenue target for the whole year, and we met it in August. Nigeria is not borrowing a dime from local banks,” Tinubu said at the Presidential Villa in Abuja on Tuesday.
The president attributed this to the increase in non-oil revenue and reforms by his administration, which took over the helm of affairs in May 2023.
“The economy is now stabilised. Nobody is trading pieces of paper for foreign exchange (forex) anymore. The economy is now predictable. You do not need to know the CBN Governor, Yemi Cardoso, to obtain foreign exchange or import goods.
“What we need now is building the ship and the vessels for the export of our goods and creating more jobs for our people,’’ the President told the gathering, according to a statement by presidential spokesman, Bayo Onanuga.