Ojugbana: Tinubu's Reforms Need More Time to Deliver

Les Ojugbana, the Founder of Farmafrik.org, expressed that four years may not suffice for President Bola Ahmed Tinubu's economic reforms to fully manifest, warning against reversing policies as key indicators improve. He described the removal of the petrol subsidy as a significant step despite the resulting cost-of-living challenges.

Ojugbana highlighted that Nigeria's economic issues stem from decades of structural failures, including infrastructure deficits and import dependence. He pointed out that while recent data shows Nigeria's real Gross Domestic Product (GDP) grew by 3.89% year-on-year in the first quarter of 2026, and manufacturing expanded by 3.29%, many Nigerians still do not feel these benefits.

He noted that lower inflation rates do not equate to lower prices, and there is often a delay in the positive effects of economic stabilization. Ojugbana referenced Tony Elumelu's comments on improvements in the private sector, particularly in oil production and foreign-exchange access, as signs of progress.