DistantNews
Support us
🇳🇬 Nigeria /Economy & Trade

Reforms moving from stability to investment – Tinubu

From The Punch · () English

Summarized by DistantNews. Read the original for the full story.

At a glance

News Official statement Context piece
  • President Bola Tinubu said Nigeria’s economic reforms are moving from macroeconomic stability toward investment, production, job creation and improved living standards.
  • He cited economic growth, stronger reserves, easing inflation and improved investor confidence as signs of progress.
  • Tinubu urged banks to increase affordable financing for businesses and help deepen long-term capital markets.

President Bola Tinubu says Nigeria has reached the point where economic stability must begin producing visible gains in investment, jobs and living standards. “Stability is the foundation, prosperity is the destination,” he said in a speech delivered by Finance Minister Taiwo Oyedele at the 19th Annual Banking and Finance Conference in Abuja.

Tinubu said his administration had tackled structural weaknesses through difficult reforms in foreign exchange, public finances, taxation and fiscal management. He described the current stage as a shift from stabilisation to production, with investment expected to support job creation and broader improvements in living standards.

Stability is the foundation, prosperity is the destination.

· Bola TinubuTinubu described the intended direction of Nigeria’s economic reforms at the banking conference.

The president pointed to reported growth of 4.43 percent in the second quarter of 2026 and an approximately 17 percent increase in GDP in U.S. dollar terms during the first half of the year. He also cited external reserves above $54 billion, easing inflation, stronger investor confidence and positive outlooks from international rating agencies.

Tinubu said Nigeria remained on track to reach a $1 trillion economy by 2030, while purchasing-power GDP had exceeded $2.2 trillion. He called on the banking sector to move from “intermediation to transformation” by directing more financing toward businesses and productive activity.

The current phase of our reform journey is accelerating the conversion of stability into investment, investment into production, production into jobs, and growth into improved living standards.

· Bola TinubuHe outlined how the administration expects macroeconomic stability to translate into broader economic gains.

“The resilient banking system cannot exist indefinitely where businesses cannot obtain affordable credit,” he said. He identified financial inclusion, technology, long-term capital and trust as priorities, alongside growth facilitation. He also urged the country to strengthen capital markets, pensions, insurance and asset management to attract domestic and foreign funding for infrastructure, industry, housing and energy.

Tinubu said consumer protection and regulatory integrity would be essential to maintaining confidence and financial stability as the reforms move into their next phase.

The resilient banking system cannot exist indefinitely where businesses cannot obtain affordable credit.

· Bola TinubuHe urged banks to expand lending to businesses and productive sectors.
About this summary

Originally published by The Punch. Summarized and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

More Stories

From Our Blog