As President Bola Ahmed Tinubu marks two years in office, his administration's ambitious reform agenda is beginning to yield visible results across key sectors of the Nigerian economy. From macroeconomic stabilization and infrastructure renewal to financial inclusion and investor confidence, the Tinubu-led government is laying the groundwork for long-term, inclusive growth.
According to the World Bank, Nigeria recorded its fastest economic growth in a decade in 2024 under Tinubu’s leadership. The country is now projected to grow by 3.6% in 2025, a testament to sweeping fiscal and monetary reforms implemented over the past 24 months.
Key Reforms and Achievements
1. Structural and Fiscal Reforms:
The administration has embarked on extensive reforms to stabilize the economy and encourage private-sector-led growth. These include tax reform bills, wage reviews, and energy transition initiatives. Treasury bill interest rates have surpassed 20%, helping to contain inflation and attract investors.
2. Regional Development Commissions:
To address Nigeria’s regional disparities, six regional development commissions were established. These bodies are now spearheading sub-national infrastructure and economic programs, enhancing decentralization and promoting regional equity.
3. Expanding Access to Finance and Credit:
The government launched CREDITCORP to improve consumer and MSME access to credit. Over 200,000 Nigerianshave benefited from this financial inclusion drive.
4. Education Financing – NELFUND:
The Nigerian Education Loan Fund (NELFUND) is democratizing access to higher education. To date, 600,000 students have received low-interest, long-tenure loans, making tertiary education more accessible.
5. The Blue Economy and Marine Resources:
With over 850 km of coastline, Nigeria’s blue economy has emerged as a strategic growth area, spurring investments in fisheries, marine transport, port infrastructure, and coastal tourism.
6. Agricultural and Livestock Reforms:
The Ministry of Livestock Development, created under Tinubu, is revolutionizing livestock management with modern ranching, climate-resilient farming, and a roadmap for growing the sector’s GDP contribution from $32 billion to $74 billion by 2035.
7. Infrastructure Development:
Projects such as the Lagos-Calabar Coastal Highway and the Sokoto-Badagry Economic Road are transforming regional connectivity, facilitating logistics, and opening new trade corridors.
8. Energy and FX Market Stability:
The introduction of Naira-for-Crude initiatives is aimed at stabilizing the foreign exchange market and strengthening the naira by reducing dollar dependency.
9. Youth and Welfare Programs:
In a landmark move, the NYSC monthly stipend was increased from N33,000 to N77,000, demonstrating the administration’s commitment to youth empowerment and social welfare.
10. Digital Governance and Tax Simplification:
Ongoing reforms include digital passport issuance, e-gates at airports, and efforts to simplify Nigeria’s tax architecture, improving efficiency and reducing corruption.
11. Local Government Autonomy:
President Tinubu has prioritized local government reform, seeking to decentralize governance and ensure responsive service delivery at the grassroots level.
12. Diversification and Solid Minerals Boom:
The administration’s mining sector reforms—under Minister Dele Alake—have resulted in a six-fold increase in revenue and $800 million in foreign investments, signaling a successful shift from oil dependency.
A Vision for Growth and Global Investment
President Tinubu’s administration has consistently signaled a pro-business posture. With clear regulatory reforms, legal protections for investors, and a focus on transparency and rule of law, Nigeria is reemerging as an attractive destination for foreign direct investment (FDI).
“The doors are open,” the President’s Special Adviser on Media and Public Communications, Sunday Dare, said. “All legitimate investors—from across Africa and around the world—are welcome to engage in mutually beneficial partnerships.”
Nigeria, with its over 200 million population and rapidly digitizing economy, presents “one of the most promising frontiers for scale, return, and growth,” Dare added.
Conclusion
As Nigeria enters the second half of President Tinubu’s first term, the trajectory is clear: a nation on the path to renewal. Despite persistent challenges—such as inflation and security—the administration’s bold reforms and infrastructural momentum have laid a solid foundation for economic transformation.
The Tinubu government’s performance over the last two years underscores a strategic shift towards decentralization, innovation, and sustainability, positioning Nigeria for a future where inclusive prosperity is not just an aspiration but a reality in the making.
