Tinubu Highlights 12 Major Economic Achievements at Nigeria’s 65th Independence Anniversary

As Nigeria marked its 65th Independence Anniversary, President Bola Ahmed Tinubu reeled out 12 key economic achievements recorded under his administration. The President emphasized that these milestones demonstrate progress in fiscal reforms, infrastructure development, and social welfare initiatives aimed at driving sustainable growth.

Key Economic Achievements Highlighted by President Tinubu:

1. Record Increase in Non-Oil Revenue
   The administration recorded unprecedented growth in non-oil revenue, reducing dependence on crude oil earnings.
2. Restoration of Fiscal Health
   Nigeria’s debt service-to-revenue ratio has significantly improved, reflecting stronger fiscal discipline.
3. Stronger Foreign Reserves
   The government reported a rise in foreign reserves alongside an increased tax-to-GDP ratio.
4. Boost in Exports
   Export expansion has strengthened the naira and created more employment opportunities.
5. Oil Production Recovery
   Crude oil production now stands at 1.6 million barrels per day, with renewed focus on domestic refining.
6. N330 Billion Social Investment Programme
   Poor households have benefitted from a ₦330 billion social safety programme aimed at cushioning economic hardship.
7. Coal Mining Growth
   Increased activities in coal mining have further diversified Nigeria’s energy and mineral resource base.
8. Transport Infrastructure Expansion
   Investments in rail, road, air, and sea transport networks have improved connectivity across the country.
9. Improved Sovereign Credit Rating
   Nigeria’s sovereign credit rating has improved, driven by a boom in oil-related stock market activities.
10. Interest Rate Cut
    For the first time in five years, the Central Bank of Nigeria (CBN) reduced interest rates to stimulate economic growth.

ALSO READ: NAFDAC Publishes Full List of Withdrawn, Suspended, and Cancelled Products in Nigeria

Tinubu’s Message of Hope

President Tinubu assured Nigerians that his administration remains committed to delivering reforms that will improve living standards, expand opportunities, and position the nation for long-term prosperity.