Nigeria's Economy Shows Signs of Recovery Under Tinubu

Nigeria is facing significant economic challenges, with President Bola Ahmed Tinubu's administration beginning reforms aimed at addressing inflation, foreign exchange rates, and public finance strains. As of early 2023, Nigeria's inflation rate was 22.41%, rising to 34.80% by December 2024.

The Central Bank of Nigeria reported a rise in foreign exchange reserves to $3.99 billion by the end of 2023, with projections to reach $50.45 billion by mid-February 2026. The balance of payments is expected to turn from a deficit of $3.34 billion in 2023 to a surplus of $6.83 billion in 2024.

Investor confidence is reportedly recovering, with capital inflows rising nearly 90% in 2025. The Nigerian stock market is projected to see significant growth, with the share index expected to reach 250,000 points by 2026, reflecting a near fivefold increase in market capitalization.