How President Tinubu Transformed Nigeria’s Economy: 10 Key Reforms Since 2023

Since taking office in 2023, President Bola Tinubu has launched major economic reforms aimed at restoring fiscal stability and boosting investor confidence. 1. Ended the costly petrol subsidy to reduce the fiscal drain. 2. Abolished the multiple exchange rate system for greater transparency. 3. Posted a $6.83 billion balance-of-payments surplus in 2024. 4. Raised net foreign-exchange reserves to $34.8 billion by end-2025. 5. Cut the fiscal deficit from 5.4% of GDP to 3.0% in one year. 6. Revived investor sentiment with renewed foreign inflows into local bonds. 7. Won a sovereign rating upgrade from Moody’s in 2025. 8. Cleared the longstanding FX backlog to restore market credibility. 9. Boosted state revenues through higher federation allocations. 10. Redirected oil and gas receipts straight into the federation account to curb leakages.

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