Tinubu’s Economic Reforms Boost Nigeria’s Fiscal Position

Chinwe Onuigbo, the All Progressives Congress (APC) House of Representatives candidate for the Ikwuano/Umuahia Federal Constituency, stated that President Tinubu’s economic reforms have positively impacted Nigeria's fiscal position, despite short-term challenges. He noted that Nigeria's dollar-denominated GDP increased from approximately $253 billion to $377 billion, a 49% rise.

In naira terms, GDP grew from about ₦314 trillion in 2024 to approximately ₦530 trillion. On public debt, Nigeria's debt-to-GDP ratio is around 40%, significantly lower than South Africa's 85%, Egypt's 80%, and Kenya's 75%.

The debt-service-to-revenue ratio decreased from nearly 100% in December 2022 to below 60%. Orji emphasized that borrowing under Tinubu is directed towards productive sectors like infrastructure and healthcare.

He mentioned the removal of the petrol subsidy as a key reform, enhancing state allocations. In healthcare, over 3,000 primary healthcare centers were revitalized, and in education, the Universal Basic Education Commission (UBEC) undertook over 11,000 projects.