Economic Reform

By Hadiza Abdulkadir

President Bola Ahmed Tinubu marked the second anniversary of his administration on Wednesday with an optimistic national address highlighting the government’s achievements and reaffirming commitment to economic reform, national security, and human capital development.

Speaking from the Aso Rock Presidential Villa, President Tinubu declared that his administration had made “undeniable progress” despite the sacrifices demanded of citizens, especially following the removal of fuel subsidies and the unification of foreign exchange rates.

“We are halfway through the journey that began 24 months ago. Today, I proudly affirm that our economic reforms are working,” he said, citing improvements such as easing inflation, increased foreign reserves, and higher state revenues.

According to the President, the federal government recorded over ₦6 trillion in revenue in Q1 2025 and successfully reduced the fiscal deficit from 5.4% of GDP in 2023 to 3.0% in 2024. Additionally, the country’s net external reserves rose sharply to over $23 billion by the end of 2024, a fivefold increase from the previous year.

In the energy sector, Tinubu noted a 400% increase in oil rig activity since 2021 and over $8 billion in new investments. “We have stabilised our economy and are now better positioned for growth and global shocks,” he added.

The President also highlighted reforms in taxation, infrastructure development, and the health sector. He announced the expansion of primary healthcare centres, the establishment of new cancer treatment centres, and a tax policy overhaul aimed at supporting low-income households and small businesses.

“Together, we are creating a system where prosperity is shared, and no one is left behind,” he said.

By Muhammad Sulaiman

President Bola Ahmed Tinubu has reiterated his administration’s commitment to inclusive economic growth, declaring that the country’s economic resilience is beginning to yield tangible benefits for citizens across sectors.

Addressing the nation on the second anniversary of his government, President Tinubu described 2025 as a year of fiscal turnaround and recovery, driven by bold reforms under the Renewed Hope Agenda.

“Despite the bump in the cost of living, we have made undeniable progress,” he stated, noting improvements in inflation, food prices, and investor confidence.

A key highlight of the President’s remarks was the government’s aggressive tax reform agenda, which pushed the tax-to-GDP ratio from 10% to over 13.5% within a year. Tinubu explained that this success was made possible by simplifying tax policies and offering relief for low-income households and small businesses.

“We are eliminating the burden of multiple taxation and introducing a fairer tax system. Essential services like food, healthcare, and education will attract 0% VAT,” he announced.

President Tinubu also underscored the importance of sustainable national finances, stating that wasteful and opaque tax waivers had been abolished in favour of targeted incentives supporting high-impact sectors such as manufacturing, agriculture, and technology.

The administration is establishing an independent Tax Ombudsman to ensure accountability. The President says this move will protect small businesses and vulnerable taxpayers.

“We are creating an economy where investment is welcome, businesses can thrive, and every Nigerian can benefit from shared prosperity,” he added.

The President noted that subnational governments had also reaped the benefits of the reforms, with an increase of over ₦6 trillion in state revenues in 2024. This has enabled them to meet debt obligations and invest more in critical infrastructure.

“Our reforms are not just fiscal adjustments. They are about restoring confidence, strengthening institutions, and building a foundation for future generations,” Tinubu concluded.

By Abdullahi Mukhtar Algasgaini

Student union leaders from Obafemi Awolowo University (OAU) in Ile-Ife and Ahmadu Bello University (ABU) in Zaria strongly disapprove of President Bola Tinubu’s distribution of rice palliatives to student leaders across Nigerian tertiary institutions. They call for more substantive reforms in the education sector.

In separate statements, the Student Union Government (SUG) Presidents of both universities criticised the gesture, highlighting that the rice distribution fails to address the deeper challenges Nigerian students face, particularly tuition costs and poor university infrastructure.

Damilola Isaac, the SUG President at OAU, emphasised that he had not received any rice palliatives and made it clear that he would not accept them, even if offered. Isaac stressed that his administration focuses on advocating for systemic change in the education sector rather than accepting temporary handouts that do not address the root causes of student hardship. He called on the government to prioritise measures that would reduce tuition burdens, improve university infrastructure, and generally enhance the quality of education across the country.

“While the government may have good intentions, it is crucial that efforts are directed toward addressing the real issues in education,” Isaac said. “We are committed to fighting for the interests of students and ensuring accountability in the education sector.”

Similarly, Ibrahim Nazeer, the President of the Students’ Representative Council at ABU, voiced his rejection of the rice palliatives. Nazeer, through his media advisor Abdulrazak Shuaibu, said he would not accept the rice unless it were ensured that all students at ABU received their fair share. He urged the government to focus on creating an environment where students can afford necessities like food without relying on sporadic palliative distributions.

Instead of periodic rice handouts, Nazeer suggested that the government focus on long-term solutions that ensure students have access to basic necessities year-round.

While some student leaders, including Fahad Abdullahi, the SUG President of Abubakar Tafawa Balewa University (ATBU), confirmed receiving the palliatives, several other institutions, including Usmanu Danfodiyo University, Sokoto (UDUS), and Moshood Abiola Polytechnic (MAPOLY), reported being unaware of the distribution.

The rice palliative, which allocated two 25kg bags of rice to each SUG President, has been criticized for being limited to student leaders rather than the entire student body. Many students expressed concerns over the perceived unfairness of the selective distribution, noting that all students, not just those in leadership positions, are affected by the country’s economic challenges.

Anas Abdulrahman, a student from UDUS, questioned why only student leaders received the palliative. He stressed that all students should benefit from government initiatives, as they are all citizens of Nigeria. “We all voted for this government, and we should all be considered for such palliatives,” he remarked.

The rice distribution is part of the government’s repeated efforts to alleviate the economic hardship exacerbated by the removal of the petrol subsidy and the floating of the naira, leading to high inflation and food price increases. Despite these measures, inflation has reached 34.8%, with food inflation soaring to 38.94%, according to the National Bureau of Statistics (NBS).

Many students and citizens are questioning the effectiveness of distributing rice as a response to the economic crisis, with some suggesting that more meaningful policy changes are needed to address the underlying economic issues facing Nigerians.

As Nigeria grapples with economic instability, student leaders are calling for a shift in focus toward lasting educational reforms, improved infrastructure, and sustainable solutions to the challenges faced by students.

By Uzair Adam

President Bola Ahmed Tinubu has responded sharply to former Vice President Alhaji Atiku Abubakar’s recent criticism of his economic reform agenda.

The Daily Reality reports that the response was conveyed in a statement issued Tuesday by Bayo Onanuga, Special Adviser to President Tinubu on Information and Strategy.

Onanuga noted that Atiku’s proposals, which he described as lacking in detail, were already rejected by Nigerians in the 2023 election.

“If he had won the election, we believe he would have plunged Nigeria into a worse situation or run a regime of cronyism,” Onanuga stated.

The statement began, “We have just read a statement credited to former Vice President Alhaji Atiku Abubakar, in which he tried to discredit President Bola Tinubu’s economic reform programmes while pushing his untested agenda as a better alternative.”

It added that Atiku’s defeat in the election was partly due to his commitment to privatizing the NNPC and other national assets, a move perceived as favoring close allies.

“Nigerians have not forgotten this, nor would they be comforted by Atiku’s track record when he managed the economy during President Olusegun Obasanjo’s first term from 1999 to 2003.

“As Vice President, Atiku supervised a questionable privatization program. He and his boss displayed a lack of confidence in our educational system, establishing their own universities while public institutions struggled.”

Onanuga criticized Atiku’s statement as “cheap talk,” suggesting it is easy to criticize without acknowledging the positive outcomes already emerging from Tinubu’s reforms, even amidst temporary challenges.

“Despite his futile attempt to sway Nigerians, it is clear that the former Vice President could not refute the soundness of the reforms pursued by the Tinubu administration.”

He added that Atiku’s call for a gradualist approach reveals a misunderstanding of the severe challenges faced by the Tinubu administration.

“President Tinubu met a country facing several grave challenges. Fuel subsidies were siphoning away enormous resources we could ill afford, and there was criminal manipulation in the forex market. No responsible leader would allow these economic disorders to persist.”

While advocating for gradual reforms may sound appealing, Onanuga asserted that Tinubu has taken decisive actions that should have been implemented years ago, during the administration when Atiku served as Vice President.

In response to Atiku’s call for empathy in governance, Onanuga highlighted that this aligns with Tinubu’s commitment to protecting the most vulnerable.

“President Tinubu has consistently emphasized the need for compassion in his reforms, prioritizing social safety nets and targeted support for those affected by economic transitions,” he added.