Economy

By Fatima Badawi

Scholars, educators and policymakers converged at Bayero University, Kano this week for the 5th International Conference of the Nigeria Centre for Reading Research and Development (NCRRD). Held under the theme “Reading Research and Practice: The Implication of Artificial Intelligence,” the conference examined how AI-driven technologies are reshaping reading instruction, literacy assessment, publishing and access to texts across Nigeria and the larger Global South.

The opening session featured a keynote address delivered in absentia by Dr. Aminu Maida, who was represented on the platform by Dr. Isma’il Adegbite. Dr. Maida, who currently serves as a leading figure in Nigeria’s technology and telecommunications space, set the tone by urging researchers and practitioners to treat AI as both an opportunity and a responsibility: a tool that can expand access to reading materials and personalized learning, but one that must be governed by inclusive policy and literacy-centred design.

The conference’s intellectual programme was anchored by lead papers from eminent figures in Nigerian education and development. Professor Sadiya Daura, Director General of the National Teachers’ Institute (NTI), presented her lead paper on teacher preparation for AI-enhanced classrooms, arguing that pre-service and in-service teacher education must integrate digital literacies and critical appraisal of algorithmic tools. Professor Mohammed Laminu Mele, the Vice-Chancellor of the University of Maiduguri, addressed infrastructure and equity, highlighting that without targeted investment in connectivity and localized content, AI risks widening existing literacy gaps in underserved communities.

Furthermore, in her remarks, Professor Amina Adamu, Director of the Nigeria Centre for Reading Research and Development, framed the conference’s aims around actionable outcomes: stronger university–school partnerships, pilot programmes that deploy AI tools for mother-tongue reading instruction, and an ethics working group to develop guidelines for the use of automated assessment and adaptive reading platforms. In her remarks Professor Adamu emphasised the Centre’s commitment to research that is directly useful to classrooms and communities in Northern Nigeria. She also commended and thanked all the partners who are always there for the Centre right from its inception to date. Some of the International and Local partners who participate in the conference include; QEDA, Ubongo, NERDC, UBEC, Plain, USAID among many others.

Some of the panel discussions explored concrete applications: on how AI-assisted text-to-speech and speech-to-text for low-resource languages; automated item generation for formative reading assessments; and data-driven reading interventions that preserve local genres and oral traditions rather than replacing them. Most of the papers presented during the event stressed that technology pilots must be accompanied by teacher coaching, community engagement and open-access content.

Participants included university academics, representatives from teacher education institutions, ministry officials, civil society literacy advocates and publishing professionals. The conference closed with a call for a multi-stakeholder roadmap: investment in localized datasets and annotated corpora for Nigerian languages, professional development pathways for teachers, and research ethics protocols to ensure that AI systems amplify, rather than marginalize, local knowledge and reading practices.

Organisers said the 5th NCRRD conference will feed into pilot projects and policy briefs to be shared with educational authorities and development partners. Delegates left with a clear message: AI’s promise for reading and literacy is real, but realising it will require literate design, purposeful investment and a sustained partnership between researchers, teachers and communities.

By Anwar Usman

The President of Nigeria, Bola Tinubu, on Wednesday stated that his administration has disbursed N330 billion to eight million households under the Federal Government’s social investment programme, designed to support poor families and vulnerable Nigerians.

The president disclosed this in his 65th Independence Day broadcast, noting that the disbursement was part of his administration’s resolve to cushion the impact of economic reforms on the most disadvantaged groups.

He noted that many of the beneficiaries had already received one or two out of the three tranches of N25,000 each.

“Under the social investment programme to support poor households and vulnerable Nigerians, N330 billion has been disbursed to eight million households, many of whom have received either one or two out of the three tranches of the N25,000 each,” Tinubu said.

The President further admitted that Nigeria had for many years failed to make critical investments in infrastructure, power, and public services, leaving a heavy burden on the present generation.

“Fellow Nigerians, we are racing against time. We must build the roads we need, repair the ones that have become decrepit, and construct the schools our children will attend and the hospitals that will care for our people,” he said.

According to him, the neglect of the past has resulted in poor electricity supply, crumbling roads, and a lack of modern facilities that can compete globally.

He further stated, “We have to plan for the generations that will come after us. We do not have enough electricity to power our industries and homes today, or the resources to repair our deteriorating roads, build seaports, railroads, and international airports comparable to the best in the world, because we failed to make the necessary investments decades ago. Our administration is setting things right”.

The President assured Nigerians that his government was already implementing corrective measures to reverse the country’s decline in infrastructure and the economy.

He praised Nigerians for their resilience in enduring tough times, pledging not to betray the trust that had been reposed in him.

By Muhammad Abubakar

The Federal Government has removed the 5% excise duty on telecommunications services in Nigeria.

The tax, introduced under the administration of former President Muhammadu Buhari, was to be applied on both voice and data services. It drew strong opposition from telecom operators and consumer groups.

Executive Vice Chairman of the Nigerian Communications Commission (NCC), Aminu Maida, said President Bola Ahmed Tinubu ordered its removal during discussions on the recently passed Finance Act.

The decision is expected to provide relief to over 171 million active telecom subscribers, who have also faced a 50 per cent tariff increase earlier this year.

By Nasiru Ibrahim 

Nigeria’s debt situation has become more confusing and concerning in recent years. After removing fuel subsidies, which had always been used to justify heavy borrowing, many expected a change in direction. But surprisingly, debt has continued to rise—and sharply. 

In less than two years, Bola Ahmed Tinubu’s administration has added over ₦62 trillion to our total debt. This comes on top of Muhammadu Buhari’s already heavy debt legacy. Yet if you check the 2025 budget, it still carries a huge deficit. This is despite relatively stable oil prices and a slight improvement in crude oil production. So, something is clearly not adding up.

How can a country that has removed one of its biggest expenditures—fuel subsidies—still be borrowing more than ever? Is it that the revenue reforms aren’t working, or is this a deeper issue with how we manage our economy? These are real questions that need honest answers. The reality is that Nigeria’s current borrowing trend is worrying not just because of the amount, but also because of the manner in which it’s happening and what it reflects.

According to the Debt Management Office, as of March 31, 2025, Nigeria’s public debt stood at ₦149.39 trillion. Tinubu alone has added ₦62.01 trillion to that figure in under two years. Now, let’s compare that with previous administrations: Goodluck Jonathan borrowed ₦5.9 trillion in five years. Buhari borrowed ₦74.78 trillion in eight years—including the controversial “Ways and Means” borrowing from the Central Bank of Nigeria (CBN). That’s how bad things have gotten.

“Ways and Means” are short-term loans from the Central Bank to the Federal Government, intended to cover urgent expenses such as paying salaries or addressing unexpected shortfalls. Think of it like an overdraft facility. But the law is clear—the CBN Act, 2007 (Section 38) states that the Federal Government can only borrow up to 5% of the previous year’s revenue from the CBN, and it must be repaid in the same year. Under Buhari, this law was ignored. His government borrowed ₦22.7 trillion through Ways and Means, without obtaining proper approval from the National Assembly.

This ₦22.7 trillion had not been reflected in official debt figures for a long time. It only became part of Nigeria’s domestic debt record in May 2023, when Buhari’s government securitised it—basically converted it into long-term bonds. That move alone caused the total public debt to jump from ₦44.06 trillion at the end of 2022 to ₦87.38 trillion by June 2023. That’s a massive increase in just six months.

Now, some economists argue that Tinubu’s debt figures appear worse primarily due to the exchange rate. That argument is simple: Nigeria borrows in foreign currencies, such as the dollar, euro, or yuan, but records the debt in naira. So when the naira weakens, the same dollar loan becomes much bigger in naira terms.

Let’s look at the exchange rate across administrations. Under Jonathan, the exchange rate was around ₦ 157 to $1 in 2015. Under Buhari, the exchange rate was ₦770/$ in 2023. And under Tinubu, the exchange rate is now approximately ₦1536/$ as of 2025. So when you convert the same external loan, the naira value explodes as the currency weakens. Just this exchange rate movement has added ₦29.75 trillion to Tinubu’s external debt and ₦5.9 trillion to Buhari’s.

To properly check if the debt spike is mainly due to FX changes, let’s fix the exchange rate at ₦157/$ for all the administrations and see how much was actually borrowed. The formula is simple:

Old Dollar Debt × New Exchange Rate – Old Dollar Debt × Old Exchange Rate.

Using the DMO’s external debt figure of $38.81 billion in 2023:
$38.81bn × ₦770 = ₦29.85 trillion
$38.81bn × ₦1536 = ₦59.63 trillion
₦59.63 trillion – ₦29.85 trillion = ₦29.78 trillion

So, if the exchange rate had remained at ₦157/$, Nigeria’s external debt of $42.46 billion in 2025 would have been approximately ₦6.6 trillion. Under that fixed exchange rate, Jonathan’s total external borrowing would have been approximately ₦1.07 trillion over five years. Buhari’s about ₦4.48 trillion in eight years.

Tinubu’s about ₦1.12 trillion in under two years. This means if Tinubu continues at this pace, he’ll hit Buhari’s figure—₦4.48 trillion—in about eight years. Yes, the exchange rate plays a significant role. But that’s not the whole story.

Others argue that Tinubu’s debt problem is not just about FX. It’s also about spending discipline. Unlike Buhari, Tinubu removed fuel subsidies and slightly increased oil production (1.5–1.6 million barrels per day, compared to Buhari’s average of 1.2–1.3 million barrels), and customs and tax revenue also improved. Buhari faced more challenging conditions—global oil crashes, two recessions in 2016 and 2020, the COVID-19 pandemic, and high subsidy payments—during his early years. So, Tinubu had more room to save, but instead, borrowing has increased.

The 2025 budget projects a deficit of ₦13.08 trillion. It assumes oil at $77.96 per barrel and production of 2.06 million barrels per day. However, in reality, March production was only 1.65 million barrels per day, including condensates. And as of July 8, Brent crude was $70.20 and WTI was $68.42—both below the assumed price. That means revenue projections may fall short, and the government will likely borrow even more.

Tinubu has already requested $21.6 billion in new loans. In May 2025, Reuters reported that he also asked the National Assembly to approve loans of €2.2 billion, ¥15 billion (approximately $104 million), and an additional $2 billion in domestic loans. That’s not all.

The Federal Government also secured a $747 million syndicated external loan to fund Phase 1, Section 1 of the Lagos-Calabar Coastal Highway—from Victoria Island to Eleko Village. At ₦1536/$, this loan adds ₦1.147 trillion to the debt. The lenders include Deutsche Bank, First Abu Dhabi Bank, Afreximbank, and Zenith Bank, among others. The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) is providing insurance. That brings Tinubu’s total borrowing to about ₦63.157 trillion in under two years.

This highway is being built under a Public-Private Partnership using an EPC+F model. The road is over 70% complete and is designed using CRCP technology—concrete with a 50-year lifespan and low maintenance requirements. While the loan adds to debt, it shows some confidence from global investors and introduces a financing model that shares risk between the government and private firms.

Now to the bigger picture. As of 2024, Nigeria’s debt-to-GDP ratio is around 25.1%, based on ₦144.67 trillion in debt and a nominal GDP of about $375 billion. That means debt accounts for about one-quarter of the economy—not yet alarming, but becoming risky if borrowing continues at this rate. What’s more worrying is the cost of servicing debt.

In 2024, debt service took up 4.1% of GDP—up from 3.7% in 2023 (AfDB report). That’s a lot. Imagine 4.1% of the entire economy going towards just paying off debt, instead of building schools, roads, or hospitals. Even worse, the debt service-to-revenue ratio rose from 76.86% in 2023 to 77.4% in 2024 (APA News). This means more than three-quarters of government revenue is now used to repay debt. That leaves very little for anything else. That’s not sustainable.

As Economics graduates, the way forward is clear. First, we need to depoliticise how we manage public finances. Countries like Chile, Sweden, and the UK have independent Fiscal Councils that enforce rules like debt limits and balanced budgets. Nigeria needs something like that to restore discipline and rebuild investor trust.

Second, loans must be tied to development goals—not used for consumption. Borrowing should be used for essential services like roads, electricity, and digital infrastructure, rather than paying salaries or covering bloated administrative costs. Rwanda and Ethiopia have shown how debt used for infrastructure can boost exports and growth. A cost-benefit analysis should accompany every loan.

Third, we must cut waste and off-budget liabilities. That includes fuel subsidies, failing state-owned enterprises, and unauthorised bailouts. Ghana passed a Fiscal Responsibility Act in 2018, capped its deficit at 5% of GDP, and ran audits that exposed massive leakages. Nigeria can cut borrowing by 30–40% just by following that path.

Fourth, improve tax collection—not by harassing small traders, but through fairness and the use of technology. Indonesia raised its tax-to-GDP ratio by digitising filing, automating risk detection, and linking tax IDs with national identity numbers. Nigeria can do the same—target high earners and multinationals instead of informal workers.

Fifth, public-private partnerships and syndicated loans, such as the Lagos-Calabar road, shouldn’t be used to conceal debt. They should help us attract private capital, share risks, and deliver real development. Countries like Morocco and Kenya make their PPP contracts public. Nigeria should also strive for greater transparency.

Finally, if things get out of hand, we can consider debt restructuring—but only as a last resort and if tied to fundamental reforms. Ghana restructured its debt in 2023 by extending maturities and cutting interest under IMF guidance. But what made it work was reform—cutting subsidies and improving tax systems. Without reform, restructuring solves nothing.

This is the time for Nigeria to act. If we continue on this path, we are only postponing a more profound crisis. But with the right decisions, we can still change direction.

Ibrahim is a graduate of Economics from Bayero University, Kano. He can be reached via nasirfirji4@gmail.com.

By Hanniel Sebatie Noboh

On the morning of July 30, Vanguard newspaper published an editorial titled “30% Processing of Export Raw Materials”, offering its perspective on the recently passed Senate bill mandating that all raw materials exported from Nigeria must be processed locally by at least 30 per cent. This long-overdue legislation is a welcome development in Nigeria’s quest for economic diversification.

Nigeria remains one of the most naturally endowed nations in the world. With abundant resources such as limestone, gold, natural gas, and the globally coveted crude oil, our country boasts mineral wealth that many developed nations lack. In agriculture too, from rice and groundnuts in the North to cassava and palm oil in the South, Nigeria’s fertile soil continues to bless us with variety and abundance.

Yet, successive governments have, for decades, focused disproportionately on crude oil, neglecting other sectors, such as agriculture and manufacturing. As the Vanguard editorial rightly observed, even during economic downturns—when necessity should inspire reform—there has been little effort to diversify our export base.

This is why the passage of this bill marks a significant shift. By requiring at least 30 per cent local processing of all export-bound raw materials, Nigeria takes a substantial step towards value addition and economic transformation.

The advantages are manifold. First, processed goods typically command higher prices in global markets. Take cocoa, for instance—a ton of raw beans sells for far less than the same quantity processed into cocoa butter. This principle applies to most commodities: the more value added, the greater the earnings.

Second, enforcing the 30 per cent processing threshold will spur the development of local industries. More processing facilities will mean more jobs, improved infrastructure, and Nigeria’s transition from an exporter of raw materials to a player in the global manufacturing and semi-processed goods market. Even for domestic buyers, the availability of semi-processed inputs will reduce dependency on fully imported goods, lowering costs and supporting local production.

Additionally, the bill aligns with President Bola Tinubu’s vision of making agriculture more attractive to Nigerian youth. Many young people may not be drawn to traditional farming, but with the emergence of new processing plants, opportunities will abound in machine operations, logistics, quality control, and related fields.

However, as Vanguard also warned, the real challenge lies in implementation. Nigeria has no shortage of well-intentioned policies, but history shows that many fail at the execution stage. A lack of infrastructure, regulatory oversight, and transparency could undermine the promise of this bill. The risk of corruption—particularly in granting exemptions or failing to enforce compliance—must be proactively addressed.

The responsibility for enforcement rests with the Raw Materials Research and Development Council (RMRDC), which must ensure compliance with the 30 per cent benchmark and uphold quality standards. Any exporter who fails to meet the requirement will face a 15% surcharge on the export value of their raw materials. This is a strong disincentive, but only if enforced fairly and transparently.

In conclusion, while the bill is commendable, its success depends on rigorous implementation, strong political will, and effective institutional accountability. If executed effectively, it could be a game-changer for Nigeria’s economy. Like many Nigerians, I remain hopeful that this won’t become another forgotten policy but the beginning of a new era of industrial growth and self-reliance.

Hanniel Sebatie Noboh is a Mass Communication student at Nile University and an intern at PRNigeria. She can be reached via nobohhanniel@gmail.com.

By Muhammad Abubakar

The Federal Government of Nigeria has approached the World Bank for a fresh loan of $1.75 billion to support its economic reform agenda.

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed that the facility would help cushion the impact of recent policy adjustments, including the removal of fuel subsidy and the unification of the exchange rate, which have placed significant strain on households and businesses.

He explained that the request, if approved, would provide critical budgetary support, strengthen fiscal sustainability, and help address the nation’s infrastructural and developmental challenges.

Nigeria’s President, Bola Ahmed Tinubu, has repeatedly defended his administration’s reforms, insisting they are necessary to revive the economy and attract foreign investment.

World Bank Country Director for Nigeria, Shubham Chaudhuri, confirmed that discussions are ongoing, although no official approval has been given yet.

Nigeria, Africa’s largest economy, has in recent years relied on multilateral loans to bridge financing gaps amid rising debt obligations and dwindling revenues.

By Uzair Adam

The Kano State Coordinating Office of the Livestock Productivity and Resilience Support Project (L-PRES), a World Bank–supported programme, has commenced a two-day training for 200 livestock extension agents and advisory service providers on modern livestock production strategies.

The training, which began on Tuesday at the Kadawa Mechanisation Institute in Garun Malam Local Government Area, is aimed at equipping extension agents to support the adoption of improved breeds through selection, breeding and artificial insemination techniques, as well as the proper management of forage resources and feed formulation.

In his welcome address, the State Project Coordinator of L-PRES, Dr. Salisu Muhammad Inuwa, described the training as a strategic step towards transforming the livestock sector in Kano.

He said the project aims to increase productivity, strengthen resilience, and promote sustainable practices that would uplift farmers and improve livelihoods.

Dr. Inuwa was quoted as saying,“You, the extension officers, are the bridge between research, policies, innovations, and the farmers in our communities.

The knowledge and skills you gain here will help our livestock keepers adopt improved breeds, better management practices, and modern feeding techniques.”

Speaking on behalf of the state government, Dr. Bashir Sunusi, Permanent Secretary at the Ministry of Agriculture and Natural Resources, who represented the Commissioner, Dr. Danjuma Mahmood, said Kano has invested heavily in agriculture, including the recruitment of over 1,000 extension workers and expansion of irrigation facilities.

He noted that extension agents remain the frontline soldiers of agriculture and urged participants to take the training seriously.

“Extension work is not theory; it is practical. When extension agents are well trained and equipped, they can support farmers to achieve higher yields, improved livestock production, and better access to markets,” Sanusi said.

Also speaking, Gambo Isa Garko, an extension officer with L-PRES, said the project is expected to transform livestock production in the state, particularly in meat, milk, and poultry output.

He added that the initiative would also establish livestock centres where farmers can access feed, veterinary services, and advisory support.

According to him, L-PRES is building a database of livestock farmers through profiling, which will enable targeted interventions.

“We are going to transform Kadawa into a practical school for livestock where farmers will learn from one another through farmer-to-farmer interaction, which makes adoption of new practices easier,” he explained.

Speaking on behalf of the participants, Ibrahim Adamu Aliyu commended the organisers for providing what he described as a timely and practical training.

He said the knowledge gained will enhance their capacity to deliver advisory services to farmers more effectively.

“This training is equipping us with modern techniques that will help us address the challenges faced by farmers, especially in adopting improved breeds, better feeding systems, and disease control measures.

“We are committed to taking this knowledge back to our communities and ensuring that it translates into tangible results for farmers,” Aliyu said.

The training includes lectures on extension strategies and models for reaching farmers, livestock production and breeding, artificial insemination, animal feed formulation, and pest and disease control, among others.

By Oladoja M.O

The Bola Ahmed Tinubu administration has unarguably embarked on a bold and unapologetic mission to retool Nigeria’s economy. From the abrupt removal of petrol subsidies to the floating of the naira, the unification of multiple FX windows, and most recently, the signing of the landmark Tax Reform and Fiscal Policy Bill, there is no denying that the government has chosen a macro-to-micro economic approach. That is, fix the big picture first, then let the gains gradually filter to the people.

And indeed, the “green lights” are beginning to blink. Global credit rating agencies such as Fitch and Moody’s have upgraded Nigeria’s outlook. Foreign investors are expressing renewed interest. Oil production is improving, FX liquidity is easing, and fiscal buffers are being rebuilt. From a purely macroeconomic standpoint, Nigeria appears to be reclaiming its place as a serious economy with a reform-minded leadership.

But there’s a contradiction that cannot be ignored: on the streets of Agege, Aba, Makurdi, and beyond, the economy is still red; red markets, red household budgets, red transport fares, and red faces of frustration. Prices have tripled in some cases. Wages have barely moved. Many can no longer afford their children’s school fees. Traders are losing capital to inflation. Food is fast becoming a luxury. Amid this hardship, Nigerians are asking the most honest, piercing question of the moment:

“If the economy is growing, why am I still shrinking?” “If the economy is growing, where is the growth in my pocket?”

This is not a question born out of ignorance. It is a legitimate cry that speaks to the disconnect between macroeconomic progress and microeconomic relief. Yes, the big numbers are looking better, but the lived realities of the majority are deteriorating. To understand this discrepancy, we must first understand the difference between macroeconomics and microeconomics. 

Macroeconomics concerns itself with the national economy, including factors such as GDP growth, inflation rates, budget deficits, and foreign exchange reserves. These are the indicators investors, multilateral organisations, and economic analysts watch. Microeconomics, on the other hand, deals with everyday realities: how much you earn, what you can buy with that income, whether your small business can survive, and whether prices of food, fuel, and medicine are manageable. In theory, macroeconomic stability should, over time, trickle down and improve microeconomic conditions. But in practice, especially in a country like Nigeria, that process is rarely smooth or automatic.

The truth is that reforms, especially big, structural reforms create what economists call a “lag effect.” That is, the pain comes first; the relief comes much later. Floating the naira made the exchange rate more transparent and investor-friendly, but it also instantly raised the price of imported goods. Removing fuel subsidy fixed a long-standing fiscal leak, but it also sent transport and food prices soaring. And because Nigeria imports a significant share of its consumption, inflation spiked, with devastating effects on the poor. Salaries have not caught up. Social safety nets are thin. Informal workers who make up over 60% of Nigeria’s labour force are primarily left to fend for themselves.

Yet, this is the path the government has chosen. And it is important to say this clearly: choosing a macro-first approach is not inherently wrong. In fact, for a country like Nigeria, plagued by decades of financial mismanagement, it is even necessary. Fixing subsidies, unifying the exchange rate, and rebuilding fiscal credibility are long overdue. Every administration must work with the strategy it believes in, and this government has opted to “stabilise the roof before fixing the foundation.” That, in itself, is a policy choice one with clear upsides.

However, macroeconomic success without a visible microeconomic impact is a hard sell to a hungry population. People don’t live in GDP. They live on garri, transport fares, and electricity bills. While international investors applaud the courage of reforms, local citizens are asking: Where is the evidence that my own life is getting better?

The administration is not blind to this concern. The recently signed Tax Reform and Fiscal Policy Bill is part of a broader effort to expand the tax net and capture the informal sector, both to raise revenue and bring more economic players into visibility. But again, for the everyday Nigerian, these reforms are abstract. What matters is how they translate into food on the table, money in the pocket, and hope in the future.

So, how do we build a bridge between this macro-level retooling and the micro-level reality of the people?

First, we must move beyond tokenistic interventions like cash transfers and instead design innovative relief tools that tie micro-support to long-term productivity. For example, introducing community-based digital vouchers that support food or fuel purchases but are redeemable only when tied to school attendance, digital payments, or participation in a training program would ease the current pressure while also boosting the country’s long-term human capital.

Second, the government must decentralise economic adaptation. Nigeria is too diverse for a one-size-fits-all economic playbook. Establishing “Local Reform Chambers” committees made up of state governments, market leaders, and community associations can help interpret macro policies at a local level and propose area-specific interventions. If subsidy removal causes a shock in Zaria or Owerri, let those communities co-design their response, be it cooperative transport schemes or communal food banks, funded partially by the government and partially by local actors.

Thirdly, data must become a feedback tool, not just a planning tool. The government should publish a monthly Macro-to-Micro Progress Report that clearly shows how reforms are improving incomes, lowering costs, or reaching underserved communities. Let people see the path of change, even if it’s still under construction.

Finally, the government must actively invest in skills, tools, and local infrastructure. Don’t just train youths to code; train them to fix machines, install solar panels, manage cooperatives, and build homes. Make markets more productive with solar lighting, shared storage, and access to water. These are the enablers that convert national growth into grassroots empowerment.

Conclusively, it is fair to acknowledge that the current administration is taking steps that previous governments only danced around. The reforms are not without merit and frankly, not without courage. But reforms are not complete until they reach the people.

The Nigerian people are not impatient; they are simply in pain. And when they ask, “If the economy is growing, why is my pocket not?” they are not being unreasonable. They are asking for what every citizen deserves: a place in the progress. Now is the time to move beyond balancing spreadsheets and begin balancing lives because growth is only real when it is felt.

And no reform is complete until the people rise with the numbers.

Oladoja M.O writes from Abuja and can be reached at: mayokunmark@gmail.com

By Jamilu M Magaji

On May 29, 2025, President Bola Ahmed Tinubu, GCFR, marked his second anniversary as the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria. This milestone represents not just the passage of time, but a turning point in Nigeria’s modern political and economic history—a testament to bold reforms, strategic governance, and a relentless pursuit of national development. 

In just 24 months, President Tinubu’s administration has laid a firm foundation for economic revitalisation, security stabilisation, and human capital investment. The following is my attempt to appraise the two years of transformational strides of the presidency driven by purpose, progress, and the promise of a new Nigeria:

1. Empowering Nigerians through Strategic Financial Interventions

One of the hallmark initiatives of the Tinubu administration is the Presidential Loan and Grant Scheme, which has supported over 900,000 entrepreneurs and small business owners. This lifeline of financial empowerment is revitalising the informal sector and unlocking grassroots innovation. Complementing this effort, the Students’ Loan Scheme has already benefitted over 300,000 young Nigerians, giving them access to quality higher education without the financial burden that has held back generations. These programs signal a long-overdue democratisation of access to capital and education.

2. Restoring Fiscal Stability and Investor Confidence 

In a remarkable feat, Nigeria has cleared over $10 billion in FX debt, a move that has stabilised the naira and restored international confidence. This bold financial reengineering is matched by a surge in Foreign Direct Investment (FDI), with over $50 billion in new commitments, indicating trust in Nigeria’s economic direction. In addition, Nigeria’s net foreign exchange reserves have seen an unprecedented jump — from $3.99 billion in 2023 to $23.11 billion in 2024 — a result of stringent reforms, strategic investment policies, and renewed international engagement.

The oil and gas sector, once plagued by underinvestment, is also experiencing a renaissance. Over $8 billion in new investments have been unlocked, laying the groundwork for energy security and industrial expansion. Meanwhile, the solid minerals sector attracted over $800 million in processing investments in 2024 alone, positioning Nigeria for a post-oil economy.

3. Infrastructure and Economic Growth on the Fast Lane

President Tinubu has significantly accelerated infrastructure development, with over 440 road projects currently underway, including more than 2,700 kilometres of new superhighways. These projects are not just roads — they are economic corridors, connecting communities, facilitating trade, and enhancing logistics nationwide. This infrastructure push has underpinned Nigeria’s 3.84% GDP growth in Q4 2024, the highest in three years, signalling a recovering and resilient economy under proactive leadership.

4. People-Centric Reforms and Regional Inclusion

The federal government approved and commenced payment of a N70,000 minimum wage, reinforcing its commitment to the welfare of Nigerian workers. This is a bold move by the government to address rising living costs and boost workers’morale. Moreover, the administration has introduced four new landmark Tax Bills, ensuring a more equitable, transparent, and growth-oriented tax system. These legislative milestones are simplifying compliance and boosting non-oil revenue streams.

Furthermore, new Regional Development Commissions have been established, decentralising development and giving states a stronger voice in the national growth agenda. This was a nod to Nigeria’s long-standing diverse regional aspirations.

5. Securing the Nation, Securing the Future

Perhaps one of the most critical achievements is in the area of national security. Under President Tinubu’s leadership, over 13,500 terrorists have been eliminated, significantly degrading insurgent capabilities and restoring relative peace to previously volatile regions. These gains are the result of strategic military coordination, improved equipment, and the unwavering resolve to secure every inch of Nigerian territory.

In conclusion, let me say that two years into his presidency, President Bola Ahmed Tinubu has demonstrated that transformative leadership is possible when courage meets vision. As the nation looks ahead, Nigerians are increasingly hopeful that these gains will be deepened, institutionalised, and scaled for future generations.

Magaji, a Public Affairs Analyst based in Birnin Kebbi, Kebbi State, can be reached via: mjmagaji@gmail.com.

By Muhammad Abubakar

Former Nigerian Vice President and presidential candidate Atiku Abubakar has criticised the Bola Ahmed Tinubu administration over unpaid wage awards and the detention of labour activist Comrade Andrew Uche Emelieze.

In a statement shared on his social media accounts, Atiku accused President Tinubu of worsening economic hardship through the “hasty and thoughtless” removal of fuel subsidy on his inauguration day, which he said plunged Nigerians into inflation, hunger, and despair.

Atiku said the government promised a ₦35,000 monthly wage award to federal civil servants pending the conclusion of a new minimum wage deal. Ten months later, only six months have been paid, leaving ₦140,000 owed per worker.

He condemned the arrest of Comrade Emelieze, who was detained for attempting to organise a peaceful protest over the unpaid wages, calling it “an affront to democracy.”

“We demand the immediate and unconditional release of Comrade Emelieze,” Atiku said. “Nigerian workers will not be silenced, intimidated, or forgotten.”

The Federal Government has yet to respond to the statement.