Oye: Economic Gains Must Lower Food Prices, Create Jobs

Dele Oye, Chairman of the Alliance for Economic Research and Ethics, acknowledged the improvements in Nigeria's macroeconomic stability under the Bola Tinubu administration, particularly following politically challenging reforms such as the removal of the petrol subsidy and foreign exchange reforms. In a statement titled “The Economy Is Stabilising.

Now Let the People Feel It,” Oye emphasized that these reforms, which also included the abandonment of monetary financing of fiscal deficits and tighter monetary policy, have strengthened the economy's foundations. He noted that Nigeria's foreign exchange reserves reached a 17-year high of $53.11 billion as of August 24, 2026, and the economy grew by 4.43% year-on-year in the second quarter of 2026.

However, he pointed out that these improvements must lead to tangible benefits for citizens, as poverty remains high at 63% and food insecurity affects 27 million Nigerians. Oye stressed the need for the administration to ensure that economic progress translates into prosperity for ordinary Nigerians.