Reforms moving from stability to investment – Tinubu

President Bola Tinubu has said that his administration is now focused on converting macroeconomic stability into investment, production, job creation and improved living standards.

Tinubu stated this on Tuesday at the 19th Annual Banking and Finance Conference in Abuja, saying that his economic reforms are yielding positive results.

The President, who was represented by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the banking and financial services sector would play a critical role in achieving the transformation.

He said, “Stability is the foundation, prosperity is the destination.

“The current phase of our reform journey is accelerating the conversion of stability into investment, investment into production, production into jobs, and growth into improved living standards.”

Tinubu said his administration had undertaken difficult reforms in the foreign exchange market, public finances, taxation and fiscal management to address structural weaknesses accumulated over decades.

He cited the economy’s 4.43 per cent growth in the second quarter of 2026 and about 17 per cent growth in GDP in US dollar terms during the first half of the year as signs of progress.

The President also said Nigeria remained on track to achieve its target of a $1tn economy by 2030, while its purchasing power GDP had surpassed $2.2tn.

He listed improved external reserves, which have crossed $54bn, easing inflation, stronger investor confidence, and positive outlooks from international rating agencies as further evidence of progress.

Tinubu urged banks to shift from “intermediation to transformation” by increasing financing to businesses and the productive sector.

“The resilient banking system cannot exist indefinitely where businesses cannot obtain affordable credit,” he said.

He identified growth facilitation, financial inclusion, technology, long-term capital and trust as priorities for building a resilient financial system.

Tinubu said the country must deepen its capital markets, pension, insurance and asset management sectors to attract long-term domestic and foreign capital for infrastructure, industry, housing and energy projects.

He also emphasised the need to strengthen trust in the financial system, saying consumer protection and regulatory integrity were essential to maintaining financial stability.