• Declares success of govt’s financial insurance policies might be assessed by way of accomplished initiatives, employment technology, improved residing requirements
Deji Elumoye in Abuja
President Bola Tinubu has issued an official response to critics, particularly opposition leaders, of his authorities’s new loans from worldwide establishments and banks.
In an essay, titled, “From reforms to delivery: Our infrastructure investment and growth strategy,” to be revealed on Nigerian information platforms, the president wrote, “The real question is not how much we borrow, but what we build, what value we create, and what future we leave behind.”
Tinubu recognized the Lagos-Calabar Coastal Highway, Sokoto-Badagry Superhighway, Trans-Sahara Superhighway, electrical energy grid upgrades, and the modernisation of key business ports in Lagos as main initiatives anticipated to strengthen Nigeria’s productive capability.
The Lagos-Calabar Coastal Highway is predicted to chop logistics prices alongside its hall by 15 to twenty per cent. It may add as much as two per cent to Nigeria’s GDP by expanded commerce, tourism, and industrial exercise.
The venture can also be projected to generate about 100,000 direct jobs in building and engineering, alongside greater than 150,000 oblique jobs in logistics, supplies, and associated companies.
According to the president, the initiatives, alongside investments in healthcare, schooling, and vocational coaching, would join financial areas, cut back logistics prices, unlock agricultural and industrial potential, and entice non-public funding.
Tinubu disclosed, “We are not simply building highways. We are opening economic corridors, connecting markets, unlocking industries and reshaping Nigeria’s economic geography.”
He stated the administration’s ambition to construct a $1 trillion economic system by 2030 would require sustained infrastructure funding to assist larger productiveness, industrialisation and commerce.
“We cannot build a USD 1 trillion economy with infrastructure designed for an economy a fraction of that size,” Tinubu stated.
He wrote that enhancing financial indicators and rising worldwide investor confidence had been creating alternatives for Nigeria to draw long-term funding and develop important infrastructure.
The president stated the financial reforms his administration launched in May 2023 helped restore macroeconomic stability, strengthen public funds, and enhance the nation’s standing in worldwide monetary markets.
He stated a $1 trillion economic system wouldn’t emerge by declaration alone however should be constructed by sustained funding, larger productiveness, industrialisation, and commerce, stressing that infrastructure growth could be important to reaching the goal by 2030.
Tinubu stated actual Gross Domestic Product progress reached 4.43 per cent within the second quarter of 2026, whereas headline inflation fell to 14.63 per cent in September, from 20.98 per cent a 12 months earlier.
He additionally stated gross exterior reserves rose to $55.1 billion as of October 9, 2026, together with about $46 billion in web reserves, whereas the tax-to-GDP ratio elevated to 12.5 per cent, from seven per cent.
The president attributed the enhancements to measures, together with petrol subsidy elimination, change price unification, tax reforms, and coordinated efforts to deal with inflation.
“The decisions taken since 2023 were difficult but necessary,” he stated.
Tinubu stated the beneficial properties had strengthened Nigeria’s capability to draw funding and finance initiatives that assist long-term financial progress.
“Confidence has a price; our cost of borrowing is going down, and the country risk premium has drastically decreased,” he stated.
The president cited constructive assessments by worldwide credit standing companies as proof of improved confidence within the economic system.
He acknowledged, “These are not political endorsements; they are independent assessments by global rating agencies, index providers, regulators and investors, recognising stronger external reserves, improved macroeconomic management and greater financial credibility.”
According to the president, the improved standing may assist Nigeria entice extra institutional buyers, safe longer-term financing, and cut back borrowing prices.
He stated the administration was shifting public borrowing away from financing short-term fiscal pressures in the direction of investments that will generate financial returns, create jobs, and develop alternatives for future generations.
Tinubu stated the federal government was additionally pursuing longer-term financing preparations to match the lifespan of infrastructure property, cut back refinancing pressures, and safe extra aggressive funding for productive investments.
He stated Nigeria should convert renewed worldwide confidence into capital expenditure, accomplished infrastructure, and lasting financial advantages for residents.
He recognized 5 priorities for the subsequent part of the Federal Executive Council’s financial technique: meals affordability and vitality value stability, price range harmonisation and financial self-discipline. completion of high-impact initiatives and funding in important infrastructure, an improved financial coverage framework and regulatory effectivity, and focused family assist alongside funding in human growth.
Tinubu harassed that the success of the present administration’s financial schemes could be measured by accomplished initiatives, elevated funding, employment technology, and improved residing requirements.
He acknowledged, “Securing financing is not the achievement. Completing the project, delivering value and improving the lives of Nigerians is the achievement.”
The president added that the nation’s financial ambition should be supported by accountable borrowing and investments that create lasting alternatives for future generations.
