President Bola Ahmed Tinubu has announced that Nigeria is no longer borrowing from domestic banks after achieving a major revenue breakthrough driven by non-oil sectors.

Speaking on Tuesday, September 2, during a meeting with members of the Buhari Organisation led by former Nasarawa State Governor, Senator Tanko Al-Makura, at the Presidential Villa, Tinubu said the government had reached its annual revenue target earlier than expected.

He explained that Nigeria successfully met its 2025 revenue goal in August, months before the year ends, and credited the progress to strong non-oil revenue growth.

The President further stressed that the economy is now more stable and less dependent on trading foreign exchange for quick gains.

He declared with confidence that Nigeria is no longer taking loans from local banks, adding that the nation’s reliance on non-oil revenue is proof of a stronger and more sustainable financial system.