Nigeria Marks Two Years of Tinubu’s Economic Reforms with Gains

The Nigerian government has marked two years of President Bola Tinubu’s economic reforms, touting significant improvements across key sectors as of August 3, 2025. A graphic from the Presidential Media Centre highlights a shift from Q1 2023’s N20 billion trade deficit to a N5.7 trillion surplus in Q1 2025, alongside an average oil production rise from 1 million to 1.6 million barrels per day. Other gains include the elimination of the $1.3 billion airline blocked fund, a minimum wage increase from N30,000 to N70,000, net reserves growth from $4 billion to $23 billion, and foreign inflow jumping from $654 million to $15 billion, reflecting robust economic policies.The reforms have also reduced PMS importation from 44.6 million litres to 14.7 million litres and slashed average annual subsidy spending from N4.8 trillion to nil, while boosting average power generation from 4,000MW to 6,000MW. Annual GDP growth improved from 2.47% to 3.40%, signaling a stronger economic foundation. President Tinubu, pictured in traditional attire, credited these achievements to strategic initiatives like the removal of fuel subsidies and currency unification, which have attracted foreign investment and stabilized the economy. The data, presented in an info graphic, underscores a narrative of progress, though critics argue the benefits have yet to fully reach the average citizen amid lingering inflation and unemployment challenges.