President Bola Ahmed Tinubu has reaffirmed his administration’s unwavering commitment to defeating terrorism and restoring lasting peace across Nigeria.
Speaking during Thursday’s Federal Executive Council (FEC) meeting at the Presidential Villa in Abuja — the first since July — Tinubu emphasized that his government remains focused on strengthening national security while driving economic transformation through the Renewed Hope Agenda.
“Despite the political headwinds and the fears of our people, we continue to engage our partners diplomatically. I assure all Nigerians that we will defeat terrorism,” the President declared before the meeting moved into a closed-door session.
The remarks came just days after former U.S. President Donald Trump designated Nigeria as a “Country of Particular Concern” over alleged religious intolerance and attacks on Christians — a move that sparked diplomatic tension. The Nigerian government swiftly dismissed the designation, describing it as a misrepresentation of the country’s true security reality.
This meeting marks Tinubu’s first official response to the issue, where he emphasized ongoing diplomatic engagements aimed at improving cooperation in counterterrorism, stability, and economic development.
Strong Economic Update
During the session, Finance Minister Wale Edun announced a major economic milestone — Nigeria’s GDP grew by 4.23 percent in the second quarter of 2025, the highest rate in a decade outside the post-COVID recovery period.
According to Edun, 13 sectors recorded growth above seven percent, while industrial output nearly doubled from 3.72 to 7.45 percent. He described the growth as evidence of renewed investor confidence in the Nigerian economy.
President Tinubu also highlighted the recent oversubscription of Nigeria’s $2.35 billion Eurobond, which attracted $13 billion in orders — a remarkable 453 percent oversubscription despite political uncertainties and U.S. pressure.
“Despite fears and political pressures, our partners have continued to show confidence. The success of the $2.3 billion bond is clear proof,” Tinubu said.
The Eurobond, managed by the Debt Management Office (DMO), was issued in two tranches — $1.25 billion maturing in 2036 and $1.10 billion in 2046 — with coupon yields of 8.63% and 9.13% respectively. Investors from the UK, North America, Europe, Asia, the Middle East, and Nigeria participated in the offering, which the DMO described as a strong vote of confidence in the country’s fiscal direction.
Building a Resilient Economy
Minister Edun, who recently recovered from illness, thanked the President and cabinet members for their support and reiterated that the government’s economic policies remain centered on job creation, poverty reduction, and competitiveness.
He also emphasized that Nigeria must sustain a minimum of 7 percent annual growth by 2027 to achieve the government’s target of a $1 trillion economy by 2030.
Tinubu, while acknowledging the challenges ahead, reaffirmed his resolve to lead Nigeria “with clarity of purpose” under his Renewed Hope Agenda.
“The task ahead is to move forward united, with a clear vision to build a prosperous Nigeria,” he stated.
During the same meeting, the President swore in two new ministers and commended his cabinet for their commitment to ongoing reforms despite economic and political pressures.
Progress on Key Indicators
Minister of Foreign Affairs Yusuf Tuggar also noted that Nigeria continues to engage U.S. officials to clarify its commitment to religious freedom and the fight against extremism.
Meanwhile, proceeds from the Eurobond are expected to fund the 2025 fiscal deficit and refinance $1.1 billion in maturing bonds later this year.
Nigeria’s foreign reserves have now risen above $43 billion — the highest since 2019 — while inflation has eased to 18.02 percent after six consecutive months of decline, signaling steady progress toward economic stability.
President Tinubu ended his address with a firm pledge:
“We will crush terrorism and restore peace across our land. Our focus remains building a prosperous, inclusive, and resilient nation through the Renewed Hope Agenda.”
