President Bola Tinubu has said Nigeria’s economic reforms have moved into a new phase focused on turning macroeconomic stability into investment, production, jobs, and improved living standards.
Tinubu spoke on Tuesday at the 19th Annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria in Abuja. He was represented by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele.
The President said the banking and financial services sector had a key role to play in driving the next phase of economic growth.
“Stability is the foundation, prosperity is the destination,” he said, urging banks to move beyond financial intermediation and provide more credit to businesses and productive sectors.
Tinubu said reforms in the foreign exchange market, public finances, taxation, and fiscal management were beginning to yield results.
He cited Nigeria’s 4.43 percent GDP growth in the second quarter of 2026 as evidence of progress. The economy grew faster than the 4.23 percent recorded in Q2 2025 and 3.89 percent in Q1 2026.
He also said Nigeria remained on course for its $1 trillion economy target by 2030, while highlighting stronger foreign reserves, easing inflation, and improved investor confidence.
The President called on banks to provide affordable financing to businesses, manufacturers, and small enterprises, stressing that a resilient banking sector could not exist while productive businesses struggled to access credit.
He also urged the financial sector to deepen capital markets, pensions, insurance, and asset management to mobilize long-term funding for infrastructure, housing, energy, and industrial development.
