Why Tinubu’s Reforms Are the Painful Treatment Nigeria’s Economy Needed

Nigerians blaming President Tinubu for today’s hardships overlook the economy he inherited. By May 29, 2023, years of expensive fuel subsidies, multiple exchange rates and rising debt had already weakened Nigeria’s finances. Tinubu moved quickly to remove the subsidy, unify exchange rates and boost revenue reforms. The IMF warned these measures were essential. The World Bank later estimated subsidy removal would save ₦2 trillion in 2023 and over ₦11 trillion by 2025. Yes, the changes have been painful. Inflation, transport and food costs have risen. The government must do more to protect vulnerable households. Yet the real debate is whether Nigeria should return to old bandages or carry on with the tough surgery that can heal its economy.

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