# 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%.
- Title: From reform to prosperity: The work to reelect the president…
- Summary: President Tinubu's economic reforms have stabilized Nigeria, with foreign reserves rising to $54 billion and World Bank growth at 4.2%.
- Keywords: nigeria, president tinubu, economic reform, foreign reserves, world bank, gdp growth, re-election campaign, apc presidential campaign, news, politics, reform, prosperity
- Source: Premium Times Nigeria — https://premiumtimesng.com/opinion/917613-from-reform-to-prosperity-the-work-to-reelect-the-president-starts-now-by-ima-niboro.html
- Author: Premium Times
- Published: 2026-10-16T14:34:14+00:00
- Read time: 2 min
- Topics: nigeria, president tinubu, economic reform, foreign reserves, world bank, gdp growth, re-election campaign, apc presidential campaign, news, politics
## 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.
## Key takeaway

President Tinubu's economic reforms have stabilized Nigeria, with foreign reserves rising to $54 billion and World Bank growth at 4.2%.