By Fatima Mukhtar
President Bola Ahmed Tinubu, in his Independence Day broadcast, reeled out what he described as twelve landmark achievements of his administration, underscoring fiscal discipline, economic revival, and infrastructure development as cornerstones of his two-year stewardship.
Tinubu announced that Nigeria’s non-oil revenue has surpassed ₦20 trillion ahead of the 2025 deadline, with September’s haul hitting ₦3.65 trillion — a 411 percent leap from May 2023. He further highlighted a sharp drop in the nation’s debt service-to-revenue ratio, down from a staggering 97 percent to less than 50 percent, alongside the settlement of outstanding “Ways and Means” advances.
On foreign reserves, the President revealed a rebound to $42.03 billion — the strongest since 2019 — and reported a rise in tax-to-GDP to 13.5 percent. He also celebrated Nigeria’s streak of five consecutive quarters of trade surplus, with non-oil exports now driving nearly half of total exports.
Turning to energy, Tinubu said crude oil output has climbed back to 1.68 million barrels per day, while local petrol refining resumed after forty years. He proudly added that Nigeria has taken the lead as Africa’s biggest exporter of aviation fuel.
On currency reforms, the President claimed the naira has steadied, with the gulf between official and parallel exchange rates narrowing. He also noted that ₦330 billion in social investment funds had been disbursed to support eight million households across the country.
In infrastructure, Tinubu spotlighted progress on mega projects, including the Lagos–Calabar Coastal Highway, Kano–Katsina–Maradi rail line, and Sokoto–Badagry Highway. He further pointed to a dramatic surge in the stock market, rising from 55,000 points in May 2023 to 142,000 by September 2025, and improved global credit ratings for Nigeria.
“These achievements,” Tinubu declared, “are evidence that we are resetting Nigeria’s economy and laying the foundation for a prosperous future.”
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