From Premium Times Nigeria · Premium Times · · 2m
From reform to prosperity: The work to reelect the president starts now
President Tinubu's economic reforms have stabilized Nigeria, with foreign reserves rising to $54 billion and World Bank growth at 4.2%.
In brief
President Tinubu's economic reforms have stabilized Nigeria, with foreign reserves rising to $54 billion and World Bank growth at 4.2%. President Tinubu's economic reforms have stabilized Nigeria, with foreign reserves rising to $54 billion and World Bank growth at 4.2%. Originally reported by Premium Times Nigeria.
Campaign begins
President Tinubu formally inaugurated the All Progressives Congress Presidential Campaign Council today.
Economic challenges
Nigeria faced deep fiscal and monetary distortions with central bank financing of government deficits rising to ₦30 trillion.
Exchange rate crisis
The official NAFEX rate was ₦465 to the dollar while the parallel market rate was ₦763, a 63 per cent differential.
Petrol subsidy removal
The administration removed the petrol subsidy regime to address fiscal pressures and corruption.
Foreign reserves growth
Foreign reserves have climbed above $54 billion compared with $32 billion in mid-April 2024.
World Bank growth
The World Bank reports real GDP grew by 4.2 per cent in the first half of 2026.
Poverty reduction
The World Bank says Nigeria's poverty rate stabilized for the first time since 2019.
Credit rating improvements
S&P Global raised Nigeria's long-term sovereign credit rating from B- to B in May 2026.
Moody's outlook
Moody's revised Nigeria's outlook to Positive from Stable in August 2.026.
Fitch outlook
Fitch revised Nigeria's sovereign outlook from Stable to Positive in late 2026.
Investment interest
JP Morgan has included Nigeria in its new GBI-EM Edge frontier local currency bond index.
Economic reforms
The administration implemented tax, oil and gas, power, infrastructure, and credit reforms.
Inflation impact
Inflation impacted household incomes and increased interest rates as the monetary authorities fought inflation.
Current account strength
Nigeria's current account position has strengthened with rising reserves providing a bigger buffer against external shocks.
Poverty reduction
The World Bank says Nigeria's poverty rate stabilized for the first time since 2019.
Next phase
The next phase is converting economic stabilisation into prosperity through lower inflation and better services.
What it means
President Tinubu's economic reforms have stabilized Nigeria, with foreign reserves rising to $54 billion and World Bank growth at 4.2%.
