PRESS RELEASE

May 29, 2026

BAT-IG Congratulates President Tinubu on Three Years of Superlative and Transformative Leadership

The Bola Ahmed Tinubu Ideological Group (BAT-IG) has congratulated President Bola Ahmed Tinubu on his successful completion of three years in office, describing his administration as one driven by bold reforms, courageous leadership and renewed hope for Nigeria.

The group stated that when President Tinubu assumed office in 2023, he inherited and near comatose economy where Nigeria faced severe economic challenges, declining investor confidence, foreign exchange volatility, mounting debt concerns and a struggling economy. However, three years down the line, the administration has recorded near miraculous visible progress in stabilising the economy and rebuilding Nigeria’s global standing.

BAT-IG commends the President for major bold reforms including the removal of fuel subsidy, foreign exchange system unification, tax reforms, infrastructural development, championing local government autonomy, implementing student loan initiatives, consumer credit schemes, investment in agriculture, food security and digital innovation, as well as reforms aimed at improving the ease of doing business.

The group noted that Nigeria has witnessed encouraging economic indicators under President Tinubu’s leadership. Foreign Direct Investment (FDI), which stood at approximately $57.77 million in the third quarter of 2023, reportedly rose to about $357.80 million by the fourth quarter of 2025. It also highlighted that Nigeria’s GDP growth increased from 3.13 percent to 3.95 percent in the first quarter of 2026.

Speaking on concerns over Nigeria’s debt profile, BAT-IG urged Nigerians to place the country’s borrowing within proper economic context rather than reacting with panic whenever new borrowing requests are announced.

According to the group, Nigeria’s budget deficits for 2025 and 2026 make borrowing necessary to bridge the gap between revenue and expenditure. It added that the rise in Nigeria’s external debt was significantly influenced by currency devaluation, stressing that Nigeria’s debt level remains comparatively moderate within Africa, especially when compared to countries with same size of economy such as Egypt and South Africa whose external debts dwarf Nigeria's.

BAT-IG further pointed to Nigeria’s Eurobond performance as evidence that international investors still have rebound confidence in the country’s economic direction. The group explained that some Nigerian bonds are currently trading at lower yields than when they were issued, indicating reduced investor panic and sustained confidence in Nigeria’s ability to manage its debt obligations.

The group also emphasised that Nigeria has not defaulted on its debt obligations and is not currently operating under an IMF programme, unlike some African countries that have faced debt distress in recent years.

While acknowledging that challenges remain, BAT-IG maintained that the Tinubu administration has demonstrated commitment to long-term economic stability, institutional reforms and national development.

The group prayed for greater wisdom, strength, good health and a turbulence-free administration for President Tinubu as he continues what it described as the task of national renewal and transformation.

Signed:

Honourable Bamidele Atoyebi

Convener

Bola Ahmed Tinubu Ideological Group (BAT-IG)