Banditry, terrorism ‘re economic hindrance we must overcome – Tinubu

2026-02-09 - 15:19

By Johnbosco Agbakwuru ABUJA— PRESIDENT Bola Tinubu on Monday said terrorism and banditry are economic hindrance that must be tackled and defeated, describing the security threats in the country as unacceptable and foreign to the country. “Terrorism and banditry are alien to us and must never be allowed to shape our future,” he said. The President also restated his administration’s resolve to pursue inclusive economic growth, macroeconomic stability and strengthened national security. Addressing governors, ministers, lawmakers and economic stakeholders at the second edition of the National Economic Council, NEC Conference at the Banquet Hall, presidential villa, Abuja, the President described the NEC as a strategic vehicle for cooperative federalism and coordinated national action. He said the theme of the conference, “inclusive growth and sustainable national development under the Renewed Hope National Development Plan 2026-2030”, reflects Nigeria’s long-term aspirations. He assured of his administration’s determination to reinforce the country’s security architecture and restore peace across troubled communities, linking insecurity directly to economic stagnation. “I promise you here that I’ll play my part... I am here again to further find ways to strengthen our security forces and defeat terrorism,” the President said. He disclosed that seven mechanisation zones would soon be established nationwide to support agricultural productivity, adding that the fight against violent crimes remained a top priority of his government. “That, I promise you, is what has kept all of us sleepless at night, but I assure you we will win with determination and resilience. We will overcome this unacceptable terrorism and banditry. It’s not part of our culture. It’s foreign to us,” Tinubu declared. Describing insecurity as a major economic hindrance, the President said all tiers of government must work collectively toward an urgent and lasting solution, while commending the governors of Borno, Katsina and Kaduna states, among others, for doing “so much to defend our freedom, liberty and our commonwealth.” He noted that the theme of the conference, mirrors Nigeria’s long-term aspirations, adding that the nation stands at a critical juncture marked by infrastructure deficits, unemployment, poverty and climate vulnerabilities. “We stand at a defining crossroads, but the resilience and ingenuity of Nigerians will overcome structural constraints,” Tinubu stated. Highlighting recent fiscal and monetary reforms, he pointed to early signs of exchange-rate stability and a gradual easing of inflationary pressures, commending the Central Bank of Nigeria for sustaining macroeconomic balance. “Recent fiscal and monetary reforms are beginning to yield positive results, including exchange-rate stability and easing inflationary pressures,” he added. Tinubu further stated that more predictable federal allocations to states and local governments were enhancing their ability to meet salary obligations, expand infrastructure and deliver social services, while federal investments in transportation, power, digital connectivity and housing, alongside targeted social-investment programmes for youths, women and small businesses, were laying the groundwork for inclusive economic expansion. He emphasised that the success of the Renewed Hope National Development Plan would depend largely on effective implementation at the sub-national level. Vice President Kashim Shettima, who chairs the NEC, called for deeper collaboration among the three tiers of government, describing the council as a decisive forum for shaping Nigeria’s economic direction through debate and consensus. “The relevance of this council lies not in the size of its membership but in the quality of ideas it generates,” he said, urging members to prioritise poverty reduction, job creation, fiscal sustainability and stronger inter-regional trade. He added that “inclusive growth must translate into tangible improvements in the lives of our citizens.” The convener of the conference and Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, commended the President’s sustained engagement with the council as symbolic of respect for Nigeria’s federal structure, noting that recent reforms had strengthened fiscal conditions nationwide and boosted international confidence in the economy. “Sustaining domestic consensus and intergovernmental cooperation is vital to achieving our long-term economic ambitions,” Bagudu said. Representing the Chairman of the Nigeria Governors’ Forum, Governor Dapo Abiodun of Ogun state, underscored the central role of states in shaping macro-economic outcomes through investment decisions, tax administration and service delivery, calling for disciplined and socially legitimate implementation of reforms. He described the NEC as “the engine room of economic leadership, not merely an advisory body.” Participants from the private sector and development community also reinforced the call for stronger partnerships, advocating closer alignment between government policy direction and enterprise capacity to unlock scalable investments, while international partners reaffirmed support for Nigeria’s inclusive-growth agenda. Across sessions, delegates agreed that Nigeria’s economic progress would depend not only on federal policy direction but also on coordinated execution at state and community levels, with fiscal discipline, consensus-building and inclusive implementation emerging as dominant themes of the conference deliberations.