President Tinubu Assures Nigerians Of Not Borrowing Locally To Fund Budget, Says Yearly Revenue Target Met Already

President Bola Ahmed Tinubu says Nigeria is not borrowing locally and has met its revenue target for the fiscal year.

President Tinubu gave the assurance during a reception for members of the defunct Congress for Progressive Change (CPC), led by former Nasarawa State governor, Tanko Al-Makura.

“We have met our revenue target for the whole year, and we met it in August. Nigeria is not borrowing a dime from local banks,” Tinubu said at the Presidential Villa in Abuja on Tuesday.

Tinubu in a statement by his spokesperson, Bayo Onanuga, attributed the actualization of the revenue projection, to the increase in non-oil revenue and reforms by his administration, which took over the helm of affairs in May 2023.

“The economy is now stabilised. Nobody is trading pieces of paper for foreign exchange (forex) anymore. The economy is now predictable. You do not need to know the CBN Governor, Yemi Cardoso, to obtain foreign exchange or import goods.

“What we need now is building the ship and the vessels for the export of our goods and creating more jobs for our people,’’ the President was quoted as saying in the statement 

He said the Federal Government will establish agricultural mechanisation centres in all regions of the country to build capacity, expand cultivation and harvest, and guarantee food sovereignty.

“We are going to have trainees,” he said. “That programme is our path to food sovereignty".