President Bola Tinubu has announced that Nigeria is not borrowing locally and has met its revenue target for the year.

Tinubu said this during a reception for members of the defunct Congress for Progressive Change (CPC), led by former Nasarawa State governor, Tanko Al-Makura.

“We have met our revenue target for the whole year, and we met it in August. Nigeria is not borrowing a dime from local banks,” Tinubu said at the Presidential Villa in Abuja on Tuesday.

The president attributed this to the increase in non-oil revenue and reforms by his administration, which took over the helm of affairs in May 2023.

“The economy is now stabilised. Nobody is trading pieces of paper for foreign exchange (forex) anymore. The economy is now predictable. You do not need to know the CBN Governor, Yemi Cardoso, to obtain foreign exchange or import goods.

“What we need now is building the ship and the vessels for the export of our goods and creating more jobs for our people,’’ the President told the gathering, according to a statement by presidential spokesman, Bayo Onanuga.

He said the Federal Government will establish agricultural mechanisation centres in all regions of the country to build capacity, expand cultivation and harvest, and guarantee food sovereignty.

“We are going to have trainees,” he said. “That programme is our path to food sovereignty. ”

Reflecting on his longstanding relationship with the CPC, President Tinubu described the political journey and merger as “a sweet memory,” and expressed gratitude to the group for their support: “When I see people like you, I am determined to work harder.”

The delegation thanked the president for steering the country through challenging economic times and for honouring the memory of their late leader and mentor, former President Muhammadu Buhari.

It pledged to deliver massive support for the ruling All Progressives Congress (APC) in the 2027 general elections.