President Bola Ahmed Tinubu on Tuesday insisted that Nigeria has no plans to resort to borrowing, announcing that his administration met its 2025 revenue generation target ahead of schedule through the non-oil sector.
Speaking at the State House in Abuja during a courtesy visit by members of The Buhari Organisation (TBO), led by former Nasarawa State Governor, Senator Tanko Al-Makura, President Tinubu said the achievement was recorded in August, four months before the end of the fiscal year.
“Nigeria is not borrowing. We have met our revenue target for the year, and we met it in August,” the President said.
Tinubu emphasised that his government remains committed to pursuing reforms that would guarantee economic stability and growth, stressing that reliance on non-oil revenue has begun to yield positive results.
The President also took a swipe at external influences, particularly policies emanating from Washington under U.S. President Donald Trump, noting that Nigeria’s focus on domestic revenue would shield the nation from adverse foreign pressures.
“If non-oil revenue is going well, then have no fear of whatever Trump is doing on the other side,” Tinubu said.
The remarks come against the backdrop of Nigeria’s history of heavy borrowings by past administrations, as well as criticism of the current government’s early resort to loans.