President Bola Ahmed Tinubu has announced that Nigeria met its 2025 revenue target in August, with the bulk of earnings generated from the non-oil sector. The President said the milestone was proof that ongoing reforms are stabilising the economy and creating new opportunities for businesses.
Speaking at the Presidential Villa in Abuja, Tinubu explained that the government's focus is now on building infrastructure, improving health services, ensuring food sovereignty, and enhancing security.
He stressed that with a more predictable forex system, businesses no longer need "special connections" to access foreign exchange for imports — a relief for SMEs that often struggle with FX bottlenecks.
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The President also revealed plans to establish agricultural mechanisation centres across Nigeria to train farmers, expand cultivation, and boost harvest yields. Analysts say this could create new markets for agro-SMEs in mechanisation, food processing, logistics, and supply chains.
Tinubu assured that his administration remains committed to empowering businesses as part of the Renewed Hope Agenda, noting that stronger non-oil revenue will support job creation and improve the operating environment for SMEs.
