Nigeria out of economic uncertainty, moving into bright future, says Tinubu
President Bola Tinubu has declared that the country has navigated its way out of the dark tunnel of economic uncertainty and hopelessness and is now moving into a bright future.
The President made the assertion on Thursday in London at the Tate Modern during a reception organised by the British Government to celebrate the contributions of Nigerians to the UK’s growth and development.
In a statement on Friday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, Tinubu advised Nigerians not to be carried away by “certain negative indices often bandied about by naysayers.”
The statement is titled ‘At Exhibition of Nigerian Modern Art, President Tinubu Salutes the Unyielding Spirit of Nigerians.’
He affirmed his trust in the capacity of Nigerians to excel anywhere.
Tinubu’s optimistic assessment comes amid ongoing economic challenges in the country, including high inflation, exchange rate volatility, and rising living costs after the removal of petrol subsidies and floating of the naira in May 2023.
Speaking at the Nigerian Modern Art exhibition, Tinubu praised the creativity and resilience of Nigerians who had “reinvented the images of the past into modern history.”
“The theme of the exhibition, ‘Nigeria’s modernism’, is more than just a title for an art show.
“It is a testament to revolution. It tells the story of a generation of Nigerian giants who, in the middle of the 20th century, refused to be despised but chose to define themselves,” the President stated.
He praised the creative ingenuity of Nigerians who have created a timeless and enduring body of work through the fusion of the ancient and the modern.
The UK Deputy Prime Minister, David Lammy, who organised the reception, disclosed that annual trade between the UK and Nigeria had reached £8.1bn.
Lammy emphasised the strong strategic partnership between both countries, marked by mutual respect and cooperation.
He noted that over half a million Nigerians were contributing to the UK’s cultural and economic life.
The Deputy Prime Minister highlighted Nigeria’s vibrant cultural influence globally, from art to entertainment, and underscored the ambition and future focus of the UK-Nigeria relationship, as exemplified by the ongoing trade and investment dialogue.
Chairperson of the Nigerians in Diaspora Commission, Abike Dabiri-Erewa, who moderated the event, highlighted accomplishments of Nigerians holding important positions in the United Kingdom.
The reception was part of activities marking President Tinubu’s two-day state visit to the UK, the first by a Nigerian leader in 37 years.
During the visit, Nigeria and the UK sealed new export agreements aimed at deepening economic cooperation between both countries.
King Charles III had earlier disclosed that Nigeria became the United Kingdom’s biggest export market in Africa in January 2026, with bilateral trade continuing to expand.
The King revealed that visitors from Nigeria spent £178m in Britain in 2024, while 251,000 people from Britain traveled to Nigeria and spent just as much in return.
Present at the event were the Governor of Lagos State, Babajide Sanwo-Olu; the Governor of Ogun State, Dapo Abiodun; the Minister of Arts, Culture and the Creative Economy, Hannatu Musawa; the Attorney-General and Minister of Justice, Lateef Fagbemi; and the Minister of Defence, Gen. Christopher Musa (retd.).
Others were the Minister of Finance and Coordinating Minister of the Economy, Wale Edun; the Minister of Industry, Trade and Investment, Jumoke Oduwole; the Minister of Education, Tunji Alausa; the Minister of State for Foreign Affairs, Bianca Ojukwu; the National Security Adviser, Mallam Nuhu Ribadu; and the Director-General of the National Intelligence Agency, Ambassador Mohammed Mohammed.
The state visit, which concluded on Thursday, saw the signing of several memoranda of understanding and agreements covering trade, investment, defence, and cultural cooperation, including a £746m financing deal for the refurbishment of Lagos Port Complex and Tin Can Island Port.
