President Bola Ahmed Tinubu announced that the Federal Government has ceased borrowing from domestic banks, citing a major revenue milestone driven by strong performance in non-oil sectors.
Speaking during a meeting with the Buhari Organisation, led by former Nasarawa State Governor Senator Tanko Al-Makura, at the Presidential Villa in Abuja, the President revealed that Nigeria achieved its annual revenue target in August.
He attributed this success to significant growth in non-oil revenue streams, marking a pivotal shift in the country’s fiscal strategy.
“The economy is stabilised, nobody is trading piece of paper for exchange rate anymore. We are going up. Today I’m standing before you, I can brag that Nigeria is not borrowing a dime from local banks.
"The revenue, we have met our target of revenue for the whole year, we’ve met it in August. Non-oil. If non-oil revenue is doing well, then we have no fear of whatever Trump is doing on the other side.” he said
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