Tinubu Marks Two Years with Economic Reforms, Security Gains, and Strong Endorsement

As President Bola Ahmed Tinubu marks two years in office, Nigeria finds itself at a pivotal moment, reflecting on a presidency defined by bold economic reforms, renewed governance, and significant security efforts. Under the banner “From Ashes to Ascent,” Tinubu’s administration has pursued what it describes as urgent interventions to rescue a nation on the brink.

Facing a “sinking ship” weighed down by unsustainable fuel subsidies and a corrupt foreign exchange system, Tinubu’s government moved swiftly. The removal of fuel subsidies and overhaul of the forex regime, though painful, have been credited with boosting transparency and curbing corruption. A series of tax reforms, including planned 0% VAT on essentials, aim to ease the cost of living and promote inclusive growth.

President Bola Ahmed Tinubu marks two years in office

Economic indicators reflect cautious optimism. Nigeria’s GDP grew by 4.6% in Q4 2024 and 3.4% over the year, among the strongest in a decade. Foreign reserves reportedly jumped from $4 billion in 2023 to over $40 billion in 2024, attracting capital inflows and foreign investment. The naira has stabilised, and agencies like Fitch and S&P have upgraded Nigeria’s outlook to “Stable B.”

Security has also seen improvements, with over 8,000 terrorists neutralised and 11,600 criminals arrested. The establishment of a multi-agency anti-kidnap task force and gains in bandit-infested regions have allowed displaced farmers to return home.

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Governance reforms have included high-profile suspensions and corruption crackdowns, such as the EFCC’s recovery of over 750 properties from one individual. State revenues have increased due to improved federal allocations, empowering sub-national development.

Oil production has climbed to 1.5 million barrels daily, with reduced fuel imports and a surge in local refining capacity pointing toward energy self-sufficiency.

Tinubu’s government moved swiftly. The removal of fuel subsidies

Comparisons have been drawn to countries like South Korea and Ireland, which overcame similar economic crises through tough reforms. Tinubu’s supporters argue that Nigeria is now on a similar path.

Amid these achievements, the All Progressives Congress and other stakeholders have thrown their weight behind Tinubu’s leadership, endorsing him for a second term in 2027. Their message: the worst is over, and Nigeria’s best days may lie ahead.

Alex Oware, Regional Director of YP4T