President highlights economic recovery indicators and unveils 1,600MW grid initiative to boost investor confidence.
By Usman Baba | Abuja, Nigeria
Bola Ahmed Tinubu has reaffirmed his administration’s commitment to fiscal stability and infrastructure expansion, citing improved investor confidence and key economic indicators.
Speaking at the All Progressives Congress (APC) 4th Elective National Convention in Abuja, the President pointed to a 400 per cent Eurobond oversubscription and plans to inject 1,600 megawatts into the national grid as signs of economic progress.
Addressing party members and stakeholders, Tinubu described ongoing economic reforms, including subsidy removal and exchange rate adjustments, as necessary steps toward long-term national prosperity.
He noted that investor confidence is returning, particularly in the oil and gas sector, supported by Nigeria’s recent Eurobond success and exit from the Financial Action Task Force (FATF) grey list.
The President acknowledged that while reforms come with short-term challenges, they are essential to stabilising the economy and creating sustainable growth.
Economic Recovery and Reform Measures
Tinubu highlighted key economic indicators suggesting gradual recovery. According to him, Nigeria has recorded consistent GDP growth, a trade surplus, and declining inflation, which has reportedly dropped for eight consecutive months to 14.45 per cent.
He emphasised that eliminating “wasteful subsidies” remains critical to economic restructuring, arguing that no economy can grow while sustaining inefficient fiscal policies.
Power Sector Expansion and Infrastructure Plans
To address longstanding challenges in the power sector, the administration plans to establish a Grid Asset Management Company (GAMCO), expected to inject 1,600 megawatts into the national grid.
The government is also advancing infrastructure upgrades across seaports, airports, and road networks, although some progress has been affected by global economic pressures, including tensions in the Middle East.
Party Unity and Leadership Direction
At the convention, Tinubu called on newly elected APC leaders to prioritise unity, transparency, and discipline in managing party affairs.
He urged the leadership to maintain an accurate membership database and warned against internal divisions driven by personal ambition.
“The future of the APC and Nigeria’s democracy depends on your leadership,” he said.
Electoral Integrity and Democratic Process
The President also addressed criticisms surrounding the Electoral Act 2026, dismissing opposition concerns and affirming that the amendment process followed constitutional procedures, including public consultations.
He reiterated that his administration does not support a one-party system, stressing the importance of a strong opposition in strengthening democratic governance.
WHY IT MATTERS
Tinubu’s remarks signal the administration’s focus on economic stabilisation and infrastructure development while managing political consolidation within the ruling party. The success of these reforms will be critical in shaping investor confidence, economic growth, and Nigeria’s democratic trajectory ahead of future elections if properly implemented.
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