November 06, (THEWILL) — President Bola Tinubu has reaffirmed his administration’s determination to defeat terrorism and deepen diplomatic engagement, insisting that Nigeria’s ongoing economic reforms are restoring investor confidence and stabilising the nation.
Speaking on Thursday during the Federal Executive Council (FEC) meeting at the Aso Villa, Abuja, the President said the government’s economic transformation agenda is beginning to yield measurable progress, despite political pressure and security concerns.
The meeting held shortly after the swearing-in of two new ministers: Dr. Bernard Mohammed Doro as Minister of Humanitarian Affairs and Poverty Reduction, and Dr. Kingsley Tochukwu Udeh (SAN) as Minister of Innovation, Science and Technology.
Tinubu’s remarks come amid renewed global scrutiny following U.S. President Donald Trump’s recent designation of Nigeria as a “Country of Particular Concern.”
The Federal Government has since rejected the classification as misleading and unsubstantiated.
Addressing the matter publicly for the first time, Tinubu said Nigeria would continue to assert its sovereignty while working with international partners to address terrorism and strengthen national security.
“Despite the political headwinds and anxieties of our people, we will continue to engage with partners across the world. We are engaging the world diplomatically, and we assure all Nigerians that we will defeat terrorism in this country,” he said.
The President cited the recent oversubscription of Nigeria’s $2.3 billion Eurobond, which attracted bids exceeding $13 billion, as evidence of renewed international confidence in Nigeria’s economic direction.
“The task ahead is immense, but the foundation we are laying is clear. Our economy is showing signs of recovery, resilience and renewed investor trust,” he added.
During the session, the Coordinating Minister of the Economy and Minister of Finance, Wale Edun, presented an updated economic outlook, describing current macroeconomic trends as the strongest in a decade.
Edun reported that Nigeria’s GDP grew by 4.23 percent in the second quarter of 2025, marking the highest level seen outside the post-COVID rebound period.
He added that 13 sectors recorded growth above 7 percent, up from nine sectors in the previous quarter, while industrial productivity rose from 3.72 percent to 7.45 percent.
He also noted that inflation eased to 18.02 percent in September, external reserves climbed to above $43 billion, and the trade surplus expanded to N7.4 trillion.
According to him, Nigeria’s removal from the Financial Action Task Force (FATF) Grey List significantly improved international confidence, with multilateral institutions acknowledging progress at recent IMF and World Bank meetings.
Edun projected that Nigeria could achieve a $1 trillion economy by 2030 if reforms remain consistent and growth continues to accelerate.
Reiterating his stance on national security, Tinubu urged Nigerians to remain hopeful.
“Do we have challenges? Yes. Are we confronted by terrorism? Yes. But we will defeat terrorism,” he said.
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