The economic reforms introduced by President Bola Ahmed Tinubu’s administration have given Nigeria the fiscal space to confront its most pressing challenges and helped the country avoid a deeper economic crisis, Information Minister Mohammed Idris has said.
Idris made the assertion in Abuja while presenting the Federal Government’s reform scorecard, arguing that the removal of fuel subsidies and the unification of the foreign exchange market were difficult but necessary decisions to restore stability to the Nigerian economy.
According to the Minister, the reforms have strengthened the country’s fiscal position and created new resources for investment in infrastructure, security, human capital development and social protection.
He acknowledged that the policies imposed real costs on households, businesses and communities, but said maintaining the previous system would have left the government with even less capacity to respond to Nigeria’s needs.
“Citizens have a right to know what resources have been freed up, what these resources mean for the Federation, and how the benefits of reform are being translated into tangible improvements in their lives,” Idris said.
The Minister said the government’s responsibility was not merely to announce difficult policies, but also to explain their consequences, account for the resources they generate and demonstrate how they are building the foundation for a stronger and more sustainable economy.
Between June 2023 and December 2025, subsidy savings generated ₦15.8 trillion for the Federation. Of that amount, ₦5.4 trillion accrued to the Federal Government.
While ₦10.4 trillion was shared among states and local governments, according to the scorecard presented by Finance Minister and Coordinating Minister of the Economy Taiwo Oyedele.
Oyedele said the reforms had also contributed to improvements in key economic indicators. Headline inflation stood at 15.91 per cent in June 2026, foreign reserves reached $52.5 billion, and real GDP growth rose to 3.89 per cent.
Nigeria also secured a sovereign credit-rating upgrade from S&P Global and exited international anti-money -laundering deficiency lists.
But Idris’s message was not that the reforms had solved every problem. The government acknowledged that the hardest test now lies in ensuring that improved fiscal stability is felt by ordinary Nigerians through better public services, stronger household welfare, reduced poverty and wider economic opportunities.
The Minister said the administration would continue engaging Nigerians openly about both the gains and the hardships associated with the reforms.
For the government, he said, the central question is no longer simply what the reforms cost—but whether the fiscal room they created can now be converted into a better quality of life for citizens.
