NewzTHE Chairman of the Alliance for Economic Research and Ethics LTD/GTE, Dele Oye, has said reforms by the Bola Tinubu-led administration over the past three years have improved the country’s macroeconomic stability and resilience. He, however, urged the government to take further steps to turn these recent macroeconomic gains into lower food prices, productive jobs and improved living standards for Nigerians. Oye in a statement, titled “The Economy Is Stabilising.
Now Let the People Feel It,” said the administration deserved recognition for taking politically difficult decisions, including petrol subsidy removal, foreign exchange reforms, the abandonment of monetary financing of fiscal deficits, the rebuilding of external reserves and tighter monetary policy. According to him, these measures have helped address distortions that have weakened the foundations of the Nigerian economy. He stressed that macroeconomic stability was only the beginning of the work, adding that the success of the reforms must ultimately be measured by their impact on ordinary citizens.
Oye cited Nigeria’s foreign exchange reserves, which has reached a 17-year high of $53.11 billion as of August 24, 2026, as evidence of stronger external buffers and referenced the National Bureau of Statistics’ report that the economy grew by 4.43 per cent year-on-year in the second quarter of 2026, up from 3.89 per cent in the previous quarter, with both oil and non-oil sectors recording stronger growth. He noted that the figures suggested that the economy was moving from holding steady to building momentum, adding that stronger reserves and rising gross domestic product would not automatically translate into improved welfare. Oye also cited the International Monetary Fund’s June 2026 assessment, which estimated poverty at 63 per cent at the national poverty line and 27 million Nigerians facing food insecurity in autumn 2025, noting that the figures demonstrated the gap between national economic performance and the daily experiences of households.
He said: “Nigerians should be honest enough to acknowledge progress when progress has been made and courageous enough to say when progress has not yet become prosperity. “The Tinubu administration deserves credit for taking decisions that many Nigerian governments postponed for years. The removal of the petrol subsidy, the movement toward a more market-base…
By Alliance for Economic Research and Ethics Nigerians should be honest enough to acknowledge progress when progress has been made and courageous enough to say when progress has not yet become prosperity. They imposed pain, but they also confronted distortions that had been quietly weakening the foundations of the Nigerian economy. Reform is easy to announce and difficult to sustain.
In Nigeria, every attempt to correct an entrenched distortion is immediately tested by politics, public anger, vested interests, institutional weakness, and the daily pressure of survival. The Tinubu administration has nevertheless stayed the course on several of the most consequential elements of the macroeconomic reset. What Deserves Recognition The first achievement is a clearer macroeconomic direction.
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