Tinubu’s Economic Reforms yielding Significant Gains – Analysts

A Gombe-based economic analyst, Mr. Carneleus Moses, has lauded the fiscal reforms implemented by President Bola Tinubu’s administration, arguing that they have begun to deliver tangible benefits and set the stage for long-term economic resilience.

Speaking to the News Agency of Nigeria (NAN) on Thursday, Moses highlighted the administration’s efforts to strengthen tax administration and public finance management, noting a marked improvement in both federal and sub-national government revenues. “The administration’s bold steps are already reshaping Nigeria’s economic landscape.

The increase of over ₦6 trillion in states’ revenue in 2024 alone is a major milestone. It reflects strategic reforms that are improving the country’s fiscal foundation,” he said.

This newspaper recalls that Tinubu had, in his nationwide broadcast on Thursday to mark his second year in office, said that his administration had recorded a substantial boost in states’ revenue in 2024 due to sweeping economic and tax reforms. The president said that the reforms had not only increased revenue generation but also enhanced the country’s tax-to-GDP ratio, rising from 10 per cent to over 13.5 per cent within a year.

Moses stated that the surge in revenue had enabled sub-national governments to reduce debt burdens, pay salaries and pensions on time and invest more in critical infrastructure and human capital development. According to him, continued commitment to fiscal discipline and policy implementation will sustain the positive trajectory.

“What we are witnessing is not just economic recovery, but the laying of a solid foundation for inclusive growth and national prosperity,” he stated. Also speaking, Dr Bachama Nigel, of Department of Economics, Gombe State University, said that the success recorded in Tinubu administration’s economic reform was a good development. Nigel, however, expressed the hope that the gains of the reforms would to trickle down.

“It is not the amount of revenue generated that matters but how the revenue is utilised. Is it adequate to cater for the basic needs of the people? These are the important issues to consider.”

“Trillions of naira have been generated, and all arms of government have received their shares; yet, the poor are becoming poorer.”

“There is nothing wrong with tax reform but let us consider the conditions of the people and explore what can be done,” he said.

The don urged the government to look at basic infrastructure, good roads and electricity, many of which, he said, the poor could not afford.

“The president should work closely with his economic team to ensure that the standard of living of Nigerians improves. “Also, government should consider how the revenue generated can be channelled toward enhancing security, while farming should be modernised,” he said.