Economy
Tinubu’s Economic Vision: Striking A Balance Between Painful Reforms And Economic Growth
Tinubu’s Economic Vision: Striking A Balance Between Painful Reforms And Economic Growth....KINDLY READ THE FULL STORY HERE▶
In simpler terms, Tinubunomics is the economic philosophy and policies championed by President Bola Ahmed Tinubu during his presidency in Nigeria. It encompasses various aspects such as trade, foreign policy, labor and employment, as well as monetary and fiscal policies that guide the administration’s actions for the next four years. While it is not yet fully defined, one can discern its direction, which seems to be focused on deregulation.
President Tinubu made two significant decisions in his inaugural speech on May 29th, namely the removal of the petrol subsidy and the plan to introduce a unified foreign exchange rate, replacing the existing dual-rate system. These decisions had immediate effects on the economy, with a threefold increase in petrol prices and subsequent rises in transportation and living costs.
The removal of the petrol subsidy, which had cost the government $10 billion in the previous year, was a bold move to address the drain on the economy and eliminate opportunities for corrupt practices among the elites. The unified foreign exchange rate, on the other hand, caused a devaluation of the Naira by up to 63%, impacting transactions involving foreign currency.
President Tinubu’s decision to announce these measures in his inaugural speech, rather than delivering popular promises, demonstrates his commitment to addressing long-standing economic issues. The swift and harsh effects led to engagements with labor leaders and stakeholders to mitigate the impacts and redirect the funds saved from subsidy removal towards national priorities such as healthcare, education, infrastructure, and other sectors.
These policies, although painful in the short run, have garnered support from many economists who believe they are necessary for long-term economic stability. The government is also forming a Presidential Committee on Fiscal Policy and Tax Reform to address issues like tax avoidance, double taxation, and tax loopholes, aiming for a fairer and more business-friendly fiscal policy.
The unified foreign exchange rate will facilitate foreign investment, while a closer look at the Central Bank of Nigeria’s operations promises improved monetary policy management. The President’s commitment to economic reforms is evident, and the focus on growing the economy is essential for fulfilling electoral promises and achieving prosperity for all.
Judicial reforms, including salary reviews for judges, are also in the pipeline to combat bribery and corruption in the judiciary, enhancing the administration of justice. To attract foreign investment, the government must focus on improving security, anti-corruption measures, fair taxation, flexible labor laws, and enforcing contract and ownership laws.
Despite the current economic challenges, these reforms are expected to yield positive long-term results, making life more comfortable and improving the standard of living for Nigerians. Economic diplomacy and marketing Nigeria to investors are vital components, and a focus on security and improved infrastructure will facilitate economic growth.
Overall, President Tinubu’s administration is dedicated to economic development, with a comprehensive template for rapid growth, encompassing fiscal and monetary policies, the judiciary, and security. These efforts aim to create a conducive environment for domestic and foreign investment, ultimately benefiting the entire nation.
According to Nivo News, the World Bank has projected that Nigeria’s economy will grow by 4.4 percent in 2026 and 2027, driven by new tax legislation, prudent monetary policies, and ongoing economic reforms. The announcement was made in the bank’s January 2026 Global Economic Prospects report, which described the anticipated growth rate as the fastest for Nigeria in over a decade.....KINDLY READ THE FULL STORY HERE▶
This latest projection represents an upgrade from the World Bank’s previous forecast of 3.7 percent published in June 2025. The bank highlighted that reforms in the tax system, combined with continued monetary prudence, are expected to stimulate economic activity, improve investor confidence, and reduce inflation. It also noted that increased oil production is likely to offset lower global oil prices, boosting fiscal revenue and strengthening Nigeria’s external balance.
The projection comes against the backdrop of Nigeria’s Gross Domestic Product (GDP) growth of 3.98 percent year-on-year in real terms during the third quarter of 2025, as reported by the National Bureau of Statistics.
Nigeria’s headline inflation rate eased to 14.45 per cent year on year in November 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS). The report showed that while consumer prices continued to rise on a monthly basis, annual inflation moderated significantly under the revised base year.....KINDLY READ THE FULL STORY HERE▶
The CPI increased to 130.5 points in November from 128.9 points in October, marking a 1.6-point month-on-month rise. Despite this, the headline inflation rate declined from 16.05 per cent recorded in October. The NBS highlighted that the November 2025 figure represents a 1.6 percentage point decrease compared with the previous month.
Monthly inflation, however, rose to 1.22 per cent in November from 0.93 per cent in October, indicating that average prices increased at a faster pace during the month despite the moderation in annual inflation. Headline inflation for November 2025 was 20.15 percentage points lower than the 34.60 per cent recorded in November 2024, reflecting the impact of the rebasing exercise that reset the base year to 2024 from 2009.
Over the twelve months ending November 2025, the average CPI increased by 20.41 per cent, down sharply from 32.77 per cent in the corresponding period of 2024. Food and non-alcoholic beverages remained the largest contributor to annual headline inflation at 5.78 percentage points, followed by restaurants and accommodation services at 1.87 percentage points, and transport at 1.54 percentage points. Housing, water, electricity, gas and other fuels added 1.22 percentage points, while education and health contributed 0.90 and 0.88 percentage points, respectively. On a month-on-month basis, food and non-alcoholic beverages drove price increases with a contribution of 0.49 percentage points.
Urban inflation declined sharply to 13.61 per cent year on year in November, down 23.49 percentage points from November 2024, while rural inflation remained higher at 15.15 per cent but fell 17.12 percentage points from the previous year. Month-on-month, urban inflation slowed to 0.95 per cent, while rural inflation accelerated to 1.88 per cent.
Food inflation moderated annually to 11.08 per cent in November 2025 from 39.93 per cent in November 2024. Monthly food inflation rose to 1.13 per cent, driven by price increases in items such as dried tomatoes, cassava tubers, ground pepper, eggs, crayfish, egusi, oxtail, and fresh onions. Core inflation, which excludes volatile agricultural and energy prices, stood at 18.04 per cent year on year, down from 28.75 per cent in November 2024.
State-level data showed Rivers recorded the highest year-on-year inflation at 17.78 per cent, followed by Ogun at 17.65 per cent and Ekiti at 16.77 per cent. Plateau had the lowest at 9.13 per cent, alongside Kebbi at 10.32 per cent and Katsina at 10.60 per cent. The NBS cautioned that interstate comparisons should be interpreted carefully due to differing consumption patterns and CPI weights across states.
The Nigerian National Petroleum Company Limited (NNPCL) has set a crude oil production target of more than two million barrels per day for 2026, citing strong collaboration with pipeline host communities as a key factor in sustaining increased output.....KINDLY READ THE FULL STORY HERE▶
Akponime Omojevwhe, Head of Field Operations, Eastern Corridor, Project Monitoring Office (PMO), disclosed the projection during a monthly stakeholders’ meeting with host communities along the Trans Niger Pipeline in Port Harcourt. The meeting was organized by Pipeline Infrastructure Nigeria Limited (PINL).
Omojevwhe revealed that the 2026 national production budget is pegged at 2.80 million barrels per day (mbpd), with a starting benchmark of 1.84 mbpd and a targeted achievable output of 2.06 mbpd. He affirmed that the Trans Niger Pipeline is currently operating efficiently, attributing its success to the active cooperation between local communities, stakeholders, and PINL.
He emphasized that community participation is critical to pipeline protection, stating, “No private security structure can succeed without grassroots involvement. The communities are a vital part of this job. Their continued support ensures uninterrupted flow along the pipeline.”
Edi Julius, representing the Minister of State for Petroleum (Oil), Heineken Lokpobiri, lauded the partnership between PINL and the communities, noting that local peace is essential for boosting national oil production. “We are confident that by 2026, Nigeria will exceed two million barrels per day, generating additional revenue and enabling greater support for host communities,” he added.
Dr. Akpos Mezeh, General Manager of Community and Stakeholders’ Relations at PINL, reviewed the year’s progress, highlighting achievements such as strengthened security along the TNP corridor, expanded stakeholder engagement, empowerment programs for women and students, zero incidence of illegal bunkering, and improved community-company trust. He also announced Christmas palliatives for the 215 TNP host communities.
Responding on behalf of the host communities, His Majesty King Philip Osaro Obele urged the federal government to channel more development projects into the region. He praised PINL for its transparency and consistent engagement, emphasizing that ongoing dialogue is essential to maintaining peace along the pipeline.
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