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President Bola Ahmed Tinubu explained why his administration established the intervention fund of 200 billion ₦ to support micro, small and medium -sized enterprises (MPMI) and the producers, stating that it has become necessary to help them stimulate competitiveness and to face structural challenges.
He said that, in addition to the growth of the 4.23% GDP recorded in September 2025, the economic reforms led by his administration began to produce tangible results in all sectors, overcoming the projections of multilateral agencies and local economic experts.
The president Tinubu, who said it on Monday in Abuja when he officially declared the 31st Nigerian economic summit opened, observed that the trust in the economic experts of the nation was the magic wand behind the reforms in progress of his administration.
Represented at the top by his deputy, the vice -president Kashim Shettimo, the president claimed that all the decisions taken by his administration were “guided by the pursuit of the balance between economic logic and public expectations”.
By affirming the reason why the Administration has established the intervention fund of 200 billion ₦ to support the MPAMI and the producers, the president Tinubu reiterated the determination of his administration to rekindle the hope for the poor, vulnerable and unemployed Nigerians, creating corridors for them, especially for young people, to access loans, subsidies and equity investments.
His words: “As a government -oriented government, our priority remains to restore hope to the unemployed, the poor, the excluded and vulnerables. We have created paths so that the Nigerian young people can access subsidies, loans and equity investments of up to 100,000 dollars to expand their businesses, innovate and build sustainable subsistence means.
“We have established an intervention fund of 200 billion pounds to support micro, small and medium -sized enterprises and producers, helping them to overcome structural challenges and improve competitiveness.
“Our expansion of access to digital micro -proposals has improved financial inclusion, giving power to small businesses and stimulating productivity in terms of community. These efforts underline our commitment for an economy that works for all Nigerians”.
The Nigerian leader has attributed the significant progress carried out so far by his administration in the stabilization of the Nigerian economy and in the rescue of public finances to patience and the sacrifices carried out by the Nigerians.
“As economics experts, you know more than the average citizen that the stability of our change market is not accidental, but reflects deliberate choices led by the same economic wisdom that embody meetings like this.
“Together with the removal of subsidies, these decisions have saved our public finances, stabilized the economy and reassured investors at home and abroad. We owe these progress to the sacrifices of the Nigerians, whose patience and understanding have been the foundation of our resistance. To them I say: the best days we promised are already in sight,” he said.
The president recognized what he described as a “sensational consensus” on the fact that the reforms in progress by his administration stabilized the macroeconomic environment of the nation, with the economy “expanding to 372.8 trillions of ₦ in 2024, compared to 309.5 trillion of ₦ in 2023”.
Delinerying some of the progress made so far in the relaunch of the economy, President Tinubu has said: “Our total collection of revenue also increased from 19.9 trillion of ₦ in 2023 to 25.2 trillions of ₦ in 2024, and in August 2025 he reached 27.8 trillion of ₦, exceeding the revenue of 18.32 trilioni of ₦.
“These triumphs and projections are guided by the promise we made to the nation: to grow the report of the debt/revenue of Nigeria from 97%, where we have reached it, at a sustainable level.
“Apart from the good news that this ratio has now reduced to less than 50%, I am proud to share that this performance, in our first days in office, has inspired Fitch to update the sovereign rating of Nigeria a B with stable outlook, and moody’s to increase our issuing rating in B3 with stable outlook. Both have praised our best economic forecast and the most clear political direction as their bars.
As for non -oil revenue, the president said that 411% have grown on an annual basis in August this year, with a tax/GDP ratio that now touches 13.5%, “compared to just 7% of a few years ago.
“Our debt/GDP ratio is now 38.8%, very below the limits set by the 60%fiscal responsability Act, and those of the ECOWAS and the 70%World Bank”, he added, noting that the numbers speak clearly of a nation prepared for the present, as they represent the promise made by its administration to the Nigerians.
On the reason why his administration has increased the federal appropriations monthly to the States, allowing them to finance critical projects and social interventions, the president Tinubu has said that he has entered “fully aware that the secret of a successful federation lies in giving each federative unit the resources and autonomy to pursue a peculiar development to his needs”.
Each reform introduced by its administration, observed the president, was inspired by a “profound reflection and the courage to act in the interest of the nation”.
He thanked the economic experts of the nation and the parties concerned in public policies for remaining alongside his administration during turbulent tides, providing insights, offering criticism and remembering the government that “our collective goal is not comfort in divergence, but progress in convergence”.
The president also assured that the four tax reform laws recently signed by him “will increase the mobilization of national revenues, will reduce the dependence on oil and simplify compliance.
“These reforms protect low -income workers, guarantee equity in the taxation of companies and strengthen digital innovation in the tax administration. By promoting transparency and coordination between all levels of government, we are laying the foundations for a more just and prosperous Nigeria”, added the president.
Declaring the 31st Nigerian economic summit open, President Tinubu told the participants that he was looking forward to that their fruitful resolutions.
Previously, the Minister of the Budget and Economic Planning, Senator Atiku Bagudu, had praised the partnership between his ministry and the Nesg, stating that he was flourished for over 30 years, guaranteeing public and private cooperation for the development of the Nigerian economy.
He underlined that from May 2023 the president Tinubu has reformed the economy and increased productivity in line with the renewed Hope agenda of the administration, suggesting a gradual loosening of the cost of living and an increase in internal production.
For his part, the president of the Nesg, Olaniyi Yusuf, advised the interested parties and the authorities to consider security as a qualifying factor of the reforms, underlining that without peace, the reforms cannot take root, investors cannot take risks and the Nigerian young people cannot find opportunities for prosperity.
“Tacking insecurity both in rural and urban areas is vital to unlock productivity and restore trust,” he added.
In a presentation, the vice -president of the Nesg, Boye Olusanya, praised the strategic reforms of the Tinubu administration, in particular the stabilization of the change market, tax reforms and the elimination of subsidies for fuel, among others, which described as courageous and fundamental to achieve the goal of building a trillion economy of dollars by 2030.
He said that although the reforms are necessary to transform the economy of Nigeria and achieve other objectives, they are largely insufficient to deal with the general issues of the political system, warning that a reversal of key political decisions will delay growth and put the country on a trajectory backward in many senses.
Among the dignitaries who honored the event, the minister coordinator of finances and economics, Wale Edun are honored; Minister of Commerce, Industry and Investments, Dr. Jumoke Oduwole; Minister of Agriculture and Food Safety, Senator Abubakar Kyari; and the Minister of Communications and the Digital Economy, Bosun Tijjani.
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