Tinubu Directs Finance Minister on Economic Reform Report

President Bola Tinubu has directed Taiwo Oyedele, the Minister of Finance and Coordinating Minister of the Economy, to provide Nigerians with a comprehensive report on the economic reforms implemented since 2023. This report is intended to outline the achievements, costs, and implications of these reforms.

Tinubu emphasized that the reforms aim to strengthen the economy and improve long-term prospects for the nation. Oyedele, at a media conference, disclosed that the removal of the petrol subsidy had mobilized N15.8 trillion for the federation from June 2023 to December 2025, with N5.4 trillion allocated to the Federal Government and N10.4 trillion to state and local governments.

Additionally, the Federal Government generated N3.1 trillion in independent revenue during this period. Despite these resources, Oyedele noted that the Federal Government incurred N30.64 trillion in incremental expenditure, including N9.39 trillion on wage adjustments and N9.37 trillion on servicing external debt.