President Bola Ahmed Tinubu has announced that the Federal Government is no longer borrowing from domestic banks, citing a significant revenue breakthrough driven by non-oil sectors.
The President disclosed this on Tuesday, September 2 during a meeting with members of the Buhari Organisation, led by former Nasarawa State Governor, Senator Tanko Al-Makura, at the Presidential Villa.
According to the President, Nigeria met its annual revenue target in August, attributing the achievement to robust non-oil revenue performance.
“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
Watch a video of him speaking below
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