Tinubu: Nigeria Meets Revenue Target, Rules Out Local Borrowing

By Diafa Doubra,

President Bola Ahmed Tinubu has announced that Nigeria has successfully met its revenue targets for the current fiscal year, assuring citizens that the country will no longer resort to local borrowing to fund government projects.

Speaking at a recent economic briefing in Abuja, Tinubu credited the achievement to the administration’s renewed push for non-oil revenue generation, reforms in tax collection, and stronger fiscal discipline across ministries and agencies. He noted that while oil earnings remain important, non-oil sectors such as agriculture, digital services, and manufacturing are now contributing significantly to national income.

“This administration is committed to building a self-sustaining economy. We have proven that Nigeria can generate enough internally to finance development without overburdening future generations with debt,” the President said.

Tinubu added that the decision to halt local borrowing will ease pressure on the domestic debt market, free up funds for private sector growth, and reduce inflationary trends associated with excessive government borrowing.

Economic analysts have welcomed the announcement, describing it as a positive signal to both local and foreign investors. However, some cautioned that Nigeria must sustain the momentum by diversifying further, blocking revenue leakages, and ensuring transparency in public spending.

The President reaffirmed his administration’s commitment to financial prudence, stressing that all revenues will be channeled into projects that directly impact Nigerians, including infrastructure, healthcare, and education.