President Bola Ahmed Tinubu has set a new target of achieving a 7 per cent growth rate by 2027 while reaffirming the commitment of his administration to the ongoing economic reforms and the Renewed Hope Agenda’s drive towards a $1 trillion economy by 2030.Tinubu who presided over the Federal Executive Council (FEC) meeting on Wednesday at the Presidential Villa, Abuja, expressed satisfaction with his administration for restoring macroeconomic stability in the country.

He urged his ministers to intensify efforts at optimising public savings to finance growth sustainably.The President reminded the Council that upon assuming office in 2023, his administration undertook far-reaching economic reforms, including floating the naira and removing fuel subsidies, tough measures that initially unsettled the economy but have since paved the way for stability and investor confidence.

“Together, we have implemented bold and difficult reforms that have dismantled longstanding distortions in our economy and restored policy credibility,” Tinubu said.“Our economy is now better positioned to attract both domestic and foreign private investment, investment that is critical to stimulating sustained growth, creating decent jobs, and lifting millions of Nigerians out of poverty.”

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