Reforms moving from stability to investment – Tinubu

President Bola Tinubu has announced a shift in his administration's focus from stability to investment in Nigeria's economy. During the 19th Annual Banking and Finance Conference in Abuja, Tinubu stated that his administration is accelerating the conversion of macroeconomic stability into job creation, improved living standards, and overall prosperity.

The President, represented by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, emphasized the pivotal role the banking and financial services sector would play in this transformation.

Tinubu highlighted that his administration has undertaken difficult reforms in key areas, including the foreign exchange market, public finances, taxation, and fiscal management. These measures have yielded positive results, with the economy growing at 4.43 percent in the second quarter of 2026 and achieving about 17 percent growth in GDP terms during the first half of the year.

Tinubu expressed optimism about Nigeria's potential to reach a $1tn economy by 2030, noting that the country's purchasing power GDP had surpassed $2.2tn.

The President urged banks to transition from "intermediation" to "transformation" by increasing financing for businesses and the productive sector. Tinubu identified growth facilitation, financial inclusion, technology, long-term capital, and trust as essential priorities for building a resilient financial system. He also emphasized the importance of strengthening trust in the financial system, citing consumer protection and regulatory integrity as crucial elements for maintaining financial stability.