Tinubu's First Three Years Stabilize Nigeria's Economy

The Centre for the Promotion of Private Enterprise (CPPE) released a policy brief assessing President Bola Tinubu's administration from May 2023 to May 2026, stating that while his first three years have helped stabilize Nigeria's fragile economy, the benefits have not yet reached ordinary citizens. The administration inherited significant macroeconomic and fiscal vulnerabilities, necessitating urgent reforms.

Key measures included the removal of fuel subsidies and the unification of the foreign exchange rate, which have led to increased energy prices and a rise in the cost of living. Despite these challenges, the CPPE noted improvements such as a rise in Nigeria's gross external reserves to approximately $50 billion and a significant increase in the Nigerian stock market, with the NGX share index rising from 55,700 points in 2023 to 254,000 points in 2026.

However, inflation remains high, and public debt is projected to reach N159.3 trillion by December 2025, indicating that successful reforms must ultimately improve the living standards of ordinary Nigerians.