As preparations gradually build toward the 2027 general elections, political observers believe the administration of President Bola Ahmed Tinubu may adopt a campaign strategy focused less on speeches and more on visible development projects across Nigeria. Rather than relying heavily on conventional political promises, the President’s allies and communication team are reportedly positioning completed and ongoing infrastructure projects as evidence of governance performance ahead of the next election cycle. According to insiders familiar with the strategy, members of the presidential media team alongside supporters under the Renewed Hope platform are already promoting projects and government interventions across different states, particularly in Northern Nigeria. The idea behind the approach is straightforward: allow Nigerians to assess the administration based on projects and policies they can physically see and experience in their communities. Tinubu’s Team Focuses on Visible Development Projects Political strategists working with the administration appear determined to avoid dependence on traditional campaign rhetoric. Instead of focusing mainly on media appearances and political slogans, the administration is expected to showcase roads, rail infrastructure, healthcare projects, schools, agriculture initiatives and social intervention programmes. Supporters of the government believe this method may resonate more effectively with voters who have become increasingly skeptical of political promises over the years. Under the Renewed Hope agenda, the administration is banking on the belief that practical development and visible infrastructure can communicate governance achievements more convincingly than campaign speeches. Government supporters also argue that many of the projects currently ongoing across Nigeria became possible because of increased revenue available after the removal of fuel subsidy. Fuel Subsidy Removal Becomes a Central Political Message One of the most debated policies introduced by the current administration remains the removal of fuel subsidy. While the policy initially generated widespread criticism due to rising fuel prices and increased living costs, supporters of the government now believe it could eventually become one of the administration’s strongest political selling points. According to officials and government supporters, subsidy removal helped free up public funds that were previously consumed by subsidy payments. They insist the funds are now being redirected into infrastructure development, transportation, healthcare, agriculture and education. Backers of the administration maintain that the long-term objective is to create sustainable economic growth while reducing waste and financial leakages associated with the old subsidy system. Kano-Maradi Railway Project Receives Attention Among the projects frequently highlighted by members of the presidential media team is the Kano-Maradi railway project. The railway development is regarded as one of the administration’s strategic transportation investments designed to improve regional trade and commercial activities between Nigeria and the Niger Republic. Officials from the Federal Ministry of Transportation reportedly stated that the railway project has achieved more than 60 percent completion. The project is expected to improve movement of goods and passengers across Northern Nigeria while strengthening regional economic integration. Transportation experts believe the railway could also reduce pressure on road transportation while encouraging commercial expansion within the region. For more details about railway development policies in Nigeria, visit the Federal Ministry of Transportation. States Report Increased Development Following Higher Allocations Another major aspect of the administration’s political communication strategy involves highlighting how state governments are utilizing increased federal allocations. Following subsidy removal, many state governments reportedly received higher allocations from the Federation Account Allocation Committee (FAAC), allowing them to execute more projects. During recent visits by members of the presidential media team to states such as Kaduna State, Jigawa State and Kano State, officials reportedly showcased multiple infrastructure developments funded through increased allocations. In Kaduna State, emphasis was placed on road construction and rehabilitation projects, investments in hospitals, educational facilities and rural electrification programmes. Jigawa State officials reportedly highlighted agricultural support programmes, youth empowerment initiatives and vocational training centres aimed at reducing unemployment among young people. Officials also displayed farming equipment and empowerment schemes intended to improve food production and encourage entrepreneurship. Growing Collaboration Between Federal and State Governments Observers following developments within the administration noted an increasing level of cooperation between the Federal Government and state governments. Analysts believe this partnership may offer both governance and political advantages for the ruling administration ahead of the 2027 elections. By working together on infrastructure delivery and social projects, federal and state authorities appear more aligned in implementing development plans that directly affect local communities. Political analysts suggest that this collaboration could help strengthen support networks for the administration across various regions of the country. The partnership also creates stronger political alliances between federal authorities and governors who may benefit from successful project implementation within their states. Agricultural Investments and Youth Empowerment Programmes The administration has continued to emphasize agriculture as part of its economic diversification strategy. Government officials say investments are being made in fertilizer distribution, irrigation systems, improved seedlings and mechanized farming support programmes. According to the government, these interventions are intended to increase food production while creating employment opportunities for Nigerian youths. Several youth-focused initiatives have also been introduced in partnership with state governments to encourage entrepreneurship and vocational skill acquisition. Training centres reportedly offer programmes in welding, renewable energy technology, technical services and small business development. Supporters believe such programmes could play a major role in reducing unemployment and improving economic opportunities for young Nigerians. For additional information on agricultural development initiatives in Nigeria, visit the Federal Ministry of Agriculture and Food Security. Kano State Highlights Infrastructure Expansion During recent tours by government supporters and media representatives, officials in Kano State reportedly showcased several ongoing projects. The projects included road rehabilitation works, healthcare facility improvements, education investments, clean water projects and urban sanitation programmes. Observers noted that the administration appears determined to use these projects as evidence of performance before official campaign activities begin. Political strategists believe showcasing visible projects may help strengthen voter confidence in areas where infrastructure development is noticeable. Analysts Warn About Economic Challenges Despite the administration’s confidence in its strategy, some analysts caution that infrastructure projects alone may not fully address public concerns over inflation, unemployment and the increasing cost of living. Critics argue that
The Central Bank of Nigeria (CBN) has received the prestigious Central Bank of the Year recognition from Central Banking Magazine, following a series of wide-ranging economic reforms that helped restore macroeconomic balance and renewed investor trust in Nigeria’s financial system. This international recognition highlights what the publication described as a return to orthodox monetary policy, led by the CBN Governor Olayemi Cardoso, whose administration has focused on rebuilding stability after years of economic distortions, inconsistent policies, and uncertainty in the financial market. Before the implementation of the current reforms, Nigeria’s economy was considered to be in a fragile condition. The country faced rising inflation, a severely depreciated naira, declining foreign exchange reserves, and weakened confidence among both local and foreign investors. The situation became more complicated due to the existence of multiple exchange-rate windows, a large foreign exchange backlog estimated at about $7 billion, and excessive dependence on monetary financing to support government spending. These issues contributed to instability in the financial system and reduced credibility in policy direction. After assuming office in October 2023, Cardoso and his team began a comprehensive reform programme aimed at tightening monetary policy, improving transparency, and restoring the credibility of the apex bank. One of the most important steps taken was the restructuring of the foreign exchange market, including the adoption of a willing-buyer, willing-seller framework and the introduction of an electronic FX matching platform designed to improve efficiency and fairness in currency trading. These changes helped remove market distortions and significantly reduced the gap between the official exchange rate and the parallel market rate, which previously exceeded 60 percent but later dropped to less than two percent, showing a major improvement in market stability. The publication also reported that the CBN successfully cleared outstanding foreign exchange obligations, which helped rebuild trust among investors, importers, and businesses while improving liquidity across the financial market. In its effort to control inflation, the apex bank adopted a tighter monetary stance by increasing interest rates aggressively before gradually easing them when inflation started to slow down. Inflation, which rose above 34 percent in 2024, declined to around 15 percent by early 2026, indicating stronger policy transmission and more disciplined liquidity management within the economy. Another major achievement mentioned in the report was the rebuilding of Nigeria’s external reserves, which increased to about $46.7 billion by late 2025, the highest level recorded in nearly seven years. This reserve level was enough to provide more than ten months of import cover, strengthening the country’s ability to withstand external economic shocks. Apart from monetary adjustments, the CBN also introduced significant institutional and governance reforms. These included the reduction of quasi-fiscal activities, stronger regulatory supervision of financial institutions, and improved transparency in policy communication to the public and investors. The bank also launched a bank recapitalisation programme aimed at strengthening the Nigerian banking sector, with several financial institutions already meeting the new capital requirements ahead of the March 2026 deadline. In addition, improvements in financial system integrity were recognised, including Nigeria’s removal from the grey list of the Financial Action Task Force, as well as positive evaluations from global organisations such as the International Monetary Fund, which acknowledged the progress made in economic reforms and policy discipline. Despite these achievements, the report noted that Nigeria still faces important challenges, including maintaining the decline in inflation, completing banking sector reforms, and strengthening institutional capacity to sustain long-term growth. Nevertheless, the magazine concluded that the actions taken by the Central Bank of Nigeria in the last two years have been exceptional, showing a strong commitment to restoring economic stability and creating a solid foundation for sustainable development in the country.
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Tinubu Reaffirms Pro-Business Stance, Willing to Adopt Global Best Practices President Bola Tinubu has reiterated his administration’s commitment to fostering a business-friendly environment in Nigeria. In a meeting with an Airtel delegation led by Chairman Sunil Bharti Mittal at the Presidential Villa in Abuja, Tinubu emphasized that his government is open to adopting successful economic models from other nations. According to a statement from his media spokesperson, Bayo Onanuga, the President expressed his willingness to implement economic strategies that have proven effective globally. “We are prepared to learn and adopt what works in other countries. If there are beneficial policies from India, we are not ashamed to implement them for the growth of Nigeria’s economy. I am pro-business and will remain committed to policies that drive economic growth,” Tinubu stated. Tax Reforms to Attract Investors The President assured the delegation that his government is focused on revising tax policies to create a more conducive environment for investors. He noted that the administration is working closely with tax regulators to streamline processes and encourage economic expansion. “We are ready to collaborate with tax administrators to ensure that reforms promote business growth and investment opportunities,” Tinubu emphasized. Government’s Commitment to Strengthening Telecommunications Infrastructure Minister of Communication, Innovation, and Digital Economy, Bosun Tijani, acknowledged the President’s ongoing support for the telecommunications sector. He highlighted Tinubu’s recent approval of policies that recognize fiber optic and undersea cables as critical national assets. This move is expected to drive further expansion in Nigeria’s digital economy. According to Tijani, “The Office of the National Security Adviser (NSA) has commenced implementation and enforcement of these regulations to ensure protection and sustainable growth.” Airtel Chairman Applauds Nigeria’s Economic Reforms Airtel’s Chairman, Sunil Bharti Mittal, commended Tinubu’s leadership, likening Nigeria’s ongoing economic transformation to India’s reform period in the early 1990s. He acknowledged the President’s bold decisions, including currency floating and subsidy removal, which have reshaped Nigeria’s economic landscape. “Your commitment to economic reforms is commendable. India faced similar challenges in the past, and through bold decisions, we emerged stronger. Nigeria is now on the path to economic revitalization, and your leadership has been instrumental in this transition,” Mittal noted. Mittal further encouraged Nigerian investors with significant financial resources abroad to reinvest in the country, highlighting the increasing confidence in Nigeria’s economic policies. Global Recognition for Nigeria’s Economic Policies Mittal acknowledged that Nigeria’s economic restructuring efforts, particularly the floating of the naira and the removal of fuel subsidies, have been globally recognized. He emphasized that these reforms, though initially challenging, have positioned Nigeria for long-term economic stability. “The world has taken note of the remarkable progress under your leadership. Floating the naira and removing fuel subsidies were tough but necessary decisions that will yield long-term benefits for Nigeria,” he added. Encouraging Local and Foreign Investments Mittal expressed optimism about Nigeria’s future, stating that local and international investors are regaining confidence in the country’s economic outlook. He advised business leaders in Nigeria to take advantage of emerging opportunities and contribute to national development. External Source and Backlink For insights on how global economic reforms have transformed developing nations, read more from World Bank’s Economic Outlook. READ ALOS: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Channel
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Johannesburg, South Africa — Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar, has made a powerful call for urgent reforms in the global economic system at the ongoing G20 Foreign Ministers’ Meeting in Johannesburg. Highlighting the need for economic equity, global security, and sustainable development, Tuggar emphasized that developing nations, including Nigeria, continue to face significant challenges fueled by external financial pressures and inequitable trade structures. Tuggar lauded South Africa’s leadership as the current G20 Presidency and pledged Nigeria’s full support for its core priorities—disaster resilience, debt sustainability, just energy transition, and the strategic use of critical minerals to foster inclusive growth. Pushing for Financial Equity and Inclusive Global Growth The Minister stressed the urgent need for structural reforms in global financial systems to enable developing countries to thrive. He called for a fairer international financial framework that ensures broader access to funding and fosters sustainable economic growth, particularly in Africa. According to a statement by his Media Aide, Alkasim Abdulkadir, Tuggar urged global financial institutions to implement reforms that prioritize long-term growth over restrictive lending conditions, which often stifle development in emerging economies. Tackling Global Security and Socio-Economic Challenges Expanding on global security concerns, Tuggar addressed the surge in global conflicts and humanitarian crises. He called for collective international action and stressed the importance of economic stability in promoting peace. Nigeria, he noted, remains committed to global peacekeeping initiatives. In combating terrorism, Tuggar advocated for a holistic approach that goes beyond military strategies. He emphasized the need for investments in education, healthcare, and employment opportunities—key factors in reducing extremism and promoting long-term stability in vulnerable regions. Tax Justice and Combating Illicit Financial Flows A central focus of Tuggar’s address was the issue of tax justice. He called on G20 members to back President Bola Ahmed Tinubu’s initiative to curb capital flight and tax evasion by multinational corporations. Highlighting the adverse effects of illicit financial flows on African economies, Tuggar urged for stronger regulations against tax havens and demanded increased transparency in global financial transactions. He called for international collaboration to tackle financial corruption and ensure equitable benefits from global trade and investments. Tuggar reaffirmed Nigeria’s dedication to fostering a global economic system that supports inclusive growth and leaves no nation behind. Key Takeaways: For more information on global economic policies discussed at the G20, visit United Nations Economic Development. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
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President Bola Ahmed Tinubu has restated his administration’s unwavering commitment to economic reforms, emphasizing that these changes will not only benefit Nigeria but also positively impact the African continent. Speaking at a state dinner hosted by French President Emmanuel Macron at the Élysée Palace in Paris, Tinubu highlighted the importance of strengthening ties between Nigeria and France. No Turning Back on Reforms Addressing the gathering, Tinubu declared that his administration remains resolute in its reform agenda, aimed at addressing economic challenges and fostering sustainable growth. “We have embarked on bold reforms for Nigeria’s economy, and there’s no looking back. These efforts are crucial not only for Nigeria but for the entire African continent. We must leave behind the mistakes of the past and embrace a future built on courage, optimism, and the vision of our founding fathers,” Tinubu asserted. Nigeria-France Relations: A Model for Global Cooperation President Tinubu praised Nigeria’s robust relationship with France, urging citizens of both nations to nurture their shared bond. He commended President Macron for fostering partnerships with African leaders and recognizing Nigeria’s leadership role on the continent. “Africa must build a continent that connects and resonates with its people, focusing on development and prosperity,” Tinubu said. He acknowledged the contributions of prominent Nigerian entrepreneurs like Aliko Dangote, Aig Imoukhuede, and Tony Elumelu, highlighting their role in strengthening Nigeria’s global reputation for innovation and enterprise. Macron’s Tribute to Nigeria’s Leadership In his remarks, President Macron lauded Nigeria’s position as a beacon of hope in Africa, praising its resilience and rich cultural contributions. “Nigeria is a formidable nation with exceptional talent and determination. From Nobel Laureate Prof. Wole Soyinka to musician Femi Kuti, Nigerians continue to shine on the global stage,” Macron noted. He emphasized France’s long-standing investment in Nigeria across sectors such as oil, gas, construction, and food security while pointing to new opportunities in solid minerals, emerging technologies, and Nigeria’s flourishing film industry. “Nigeria and France will continue to lead together, forging a collaborative path forward,” Macron concluded. The Vision for Africa’s Future Tinubu expressed confidence in Africa’s potential, stating that the continent must take charge of its development. “This is a time of great opportunity for Africa. We must chart a course that allows our children and grandchildren to inherit a continent they can be proud of,” Tinubu said. READ ALSO:
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Nigeria is currently experiencing one of its most difficult economic periods, and for the average consumer, life is becoming increasingly unbearable. With inflation soaring to record levels, the naira’s value plummeting, fuel subsidies removed, and prices skyrocketing across the board, many Nigerians are finding it nearly impossible to survive. The purchasing power of ordinary Nigerians has been severely eroded, forcing families to make agonizing decisions. Millions are struggling to meet even their most basic needs. Mr. Amos Ifeduba, in an interview with Daily Independent, remarked, “The economic situation in Nigeria has reached a point where it is no longer just about struggling to make ends meet, it is about mere survival.” Backing up Ifeduba’s comments, recent data from the National Bureau of Statistics (NBS) reveals that inflation surged to a staggering 26.7% in September 2024, up from 20.77% in the same month the previous year. This inflation spike is largely driven by the skyrocketing prices of food and essential goods. Food inflation alone has shot up by 31.5%, making it increasingly difficult for the average Nigerian to afford basic meals. Staple items such as rice, beans, and cooking oil, once accessible to most families, have now become luxury items. The price of rice has jumped from ₦30,000 per 50kg bag to over ₦50,000 in just a year. Similarly, cooking oil prices have surged by 70%, and beans and other key ingredients have become out of reach for millions. The inflation crisis is further worsened by the removal of fuel subsidies. Fuel prices have risen to ₦1,071 per liter, leading to a chain reaction that has driven up transportation costs, which in turn, has inflated the prices of almost everything, from food to clothing to healthcare. The high cost of transport is preventing many Nigerians from commuting to work or school regularly, limiting their economic opportunities and further deepening their struggles. With the newly approved minimum wage of ₦70,000, many Nigerians still earn far below this threshold. The reality is that for the majority of workers, making ends meet has become an increasingly difficult challenge. In major cities like Lagos and Abuja, the cost of living has outpaced wage growth by a wide margin, and the gap between income and expenses is widening. A recent World Bank survey revealed that more than 60% of Nigerians are now living below the poverty line. The situation is dire: a typical household now spends a significant portion of its income on food, leaving little room for essentials such as education, healthcare, and housing. For many, food now accounts for 80% or more of their monthly expenses, forcing them to cut back on even the most basic needs. The frustration of consumers is palpable. During a recent market survey in Ogba, Lagos, trader Iya Wale expressed her frustration: “Everything don dear, no be small. Dem talk say rice, ewa, and agbado go cheap if we vote for them, but today, we nor fit buy them for market. How person go chop when everything cost like this? Dem no dey feel us for government.” In Ogun State, Mr. Kenneth Ndimele, a civil servant, shared his despair: “I can’t even explain how things have changed. My salary is still the same, but food prices have doubled. My children’s school fees are overdue, and I’m borrowing money to survive. With the high cost of transport, I’m not sure how long I can keep up with this life.” Similarly, Kemi Arokola, a single mother in Surulere, Lagos, said: “I used to stock rice worth ₦30,000, but now I have to spend ₦50,000 because the price of a 50kg bag has gone up to ₦90,000 or more. How am I supposed to feed my kids? They’re skipping meals, and every day I worry about where the next meal will come from. It breaks my heart to see them suffer.” The pressure on consumers is relentless, and it’s not just the poorest Nigerians who are feeling the heat. The middle class, once considered stable, is also being squeezed out of the economy. A report from the African Development Bank (AfDB) reveals that over 70% of middle-class Nigerians have had to cut back on discretionary spending, even on critical areas like healthcare and education. Many are dipping into their savings, or worse, accumulating debt just to survive. The situation has become so dire that many middle-class families are now facing tough choices they never imagined they’d have to make. Economist Mr. Ben Nnamdi commented: “What we’re seeing now is an economy that is fundamentally unsustainable for the average Nigerian consumer. The rise in inflation, the devaluation of the naira, and stagnant wages are eroding the quality of life for millions. Even those once considered financially stable are feeling the pinch.” In response to the crisis, the government has introduced measures such as cash transfers to vulnerable households. However, these interventions are widely seen as insufficient. The ₦8,000 cash transfer, meant to help the poorest Nigerians, is hardly enough to offset the increasing cost of living. For a family spending upwards of ₦20,000 a week on food alone, ₦8,000 is barely a drop in the ocean. Consumer rights advocate Mrs. Yetunde Akinyemi criticized the government’s approach: “While the cash transfers are well-intentioned, they fail to address the underlying issues that are causing the economic hardship. Inflation, fuel prices, and the depreciation of the naira are the real problems, and until these are tackled, the situation will only worsen.” While the government has promised reforms to tackle these challenges, many remain skeptical about the feasibility and effectiveness of these promises. The scale of the crisis demands immediate, large-scale action to relieve suffering. The economic struggles faced by Nigerian consumers are not merely about rising prices—they reflect a deeper systemic failure to provide for the country’s people. Experts argue that comprehensive economic reforms are urgently needed to address inflation, stabilize the naira, and create sustainable sources of income for households. Without these reforms, the pain for consumers will only intensify, and Nigeria risks facing
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Crown Prince and Prime Minister of Saudi Arabia, Mohammed bin Salman, has expressed his backing for Nigeria’s economic reform agenda during a meeting with Nigerian President Bola Tinubu in Riyadh. The leaders met during the Arab-Islamic Summit to explore potential areas of cooperation, including oil and gas, agriculture, infrastructure, and the establishment of a Saudi-Nigeria Business Council, as reported by Leadership.ng on Tuesday. Presidential spokesperson Bayo Onanuga noted that President Tinubu proposed a $5 billion bilateral trade agreement with Saudi Arabia aimed at enhancing economic relations. This proposal follows the Saudi Agricultural and Livestock Investment Company’s (SALIC) $1.24 billion investment in 2022, which secured a 35.43% stake in Olam Agri, a key Nigerian agricultural company. Talks are ongoing for SALIC to further increase its investment, with aspirations to position Olam as a leading global agro-allied company.Crown Prince Mohammed lauded President Tinubu’s reform efforts, drawing similarities with his own initiatives to strengthen Saudi Arabia’s stability and progress since becoming Prime Minister. He pledged unwavering support for Nigeria’s economic plans and committed to deepening the collaborative areas outlined in their discussion.The Crown Prince was joined by high-ranking officials, including Prince Abdullah bin Bandar bin Abdulaziz, Minister of National Guard, and Prince Khalid bin Salman bin Abdulaziz, Minister of Defence, highlighting the strong interest in enhancing Saudi-Nigerian relations. READ ALSO: Femi Falana Criticizes President Tinubu for Charging Peaceful Protesters with Treason and Terrorism This partnership seeks to harness the strengths of both nations to drive economic growth, bolster food security, and support sustainable development, marking a major step forward in bilateral ties.
