By the end of February 2025, President Bola Ahmed Tinubu’s administration has implemented a series of reforms aimed at revitalizing Nigeria’s economy and improving the quality of life for its citizens. These initiatives span various sectors, including agriculture, infrastructure, education, and governance.
To combat food insecurity, the administration declared a state of emergency on food security and established the National Agricultural Development Fund with an initial allocation of N100 billion. Programs such as the Dry Season Farming Initiative and the Green Imperative Programme have been launched to promote year-round farming, provide modern equipment, and offer low-interest loans to farmers, ensuring a stable food supply.
Significant investments have been made in infrastructure to enhance connectivity and economic growth. Projects include the operationalization of the Port Harcourt-Aba rail line and the construction of the Lagos-Calabar Super Highway. The Renewed Hope Infrastructure Development Fund aims to raise N20 trillion to deliver critical projects and modernize ports and aviation facilities, creating an enabling environment for businesses.
The administration has prioritized education by signing the Student Loans Act 2024 into law, establishing the Nigerian Education Loan Fund to broaden access to higher education. Initiatives like the Three Million Technical Talent Initiative and the iDICE Programme aim to equip young Nigerians with digital skills, fostering youth-driven industrialization and innovation.
To improve the business environment, the Presidential Fiscal Policy and Tax Reforms Committee was established to streamline tax policies. The committee aims to increase the tax-to-GDP ratio to 18% by 2026 by reducing the number of taxes from 260 to a single digit, removing burdensome taxes, and digitizing the collection process.
Efforts to enhance governance include the introduction of the citizen engagement and to assess public officials’ performance. Reforms recommended by the Oronsaye Report are being implemented to rationalize and restructure government agencies, increasing transparency and efficiency.
While these reforms aim to address deep-rooted economic issues, they have also led to short-term challenges such as increased fuel prices and inflation due to the removal of fuel subsidies. Adjustments in monetary policy have caused currency depreciation, affecting purchasing power. However, the administration anticipates that these measures will lead to sustainable economic growth, reduced unemployment, and a diversified economy less dependent on oil revenues in the long term.
The reforms are designed to reposition Nigeria as a viable and attractive economy. The focus on employment, infrastructure, and social welfare is expected to yield significant benefits for the Nigerian populace.
Effective implementation, continuous monitoring, and a responsive approach to emerging challenges will be critical in determining their success and lasting impact.
To effectively deepen the positive impacts of the Federal Government reform program, the 36 states and the Federal Capital Territory as well as the Local Governments areas of the country should be encouraged to drive local development and good governance by adapting key elements of President Tinubu’s reform agenda to their own contexts.
In doing so, they can both replicate successful strategies and complement federal initiatives to create a more responsive, transparent, and growth policies
– Musa Asiru Bakare, member, Tinubu Support Group (TSG), writes from Lokoja, Kogi state capital.
