A former presidential aide, Reno Omokri, has said that Nigeria recorded notable economic outcomes under President Bola Tinubu in areas including foreign reserves, oil production, financial markets, infrastructure, and social support schemes.
In comments shared on his X account and cited by The Guardian on Tuesday, Omokri listed what he described as achievements of the current administration. He said the indicators showed improvements across several sectors and reflected what he called progress in stabilising the economy.
He stated that the figures and programmes highlighted under the administration pointed to areas where measurable changes had been recorded.
The Guardian recalls that Omokri, once a staunch critic of Tinubu and the All Progressives Congress (APC), has in recent times applauded the APC and Tinubu’s administration after it came into power.
1. Stronger Foreign ReservesNigeria’s foreign reserves have crossed the $45 billion mark for the first time in six years, now ranking as the fourth-highest on the African continent.
2. Robust GDP GrowthPrudent management of reserves has contributed to a 3.93% GDP growth in the most recent quarter, following a 4.23% growth in the previous quarter (Q2, 2025).
3. Energy IndependenceWithin two years, Nigeria transitioned from being Africa’s largest petrol importer to West Africa’s largest exporter.
4. OPEC Production SurplusFor the first time in over a decade, Nigeria has exceeded its OPEC quota for three consecutive months, averaging 1.71 million barrels per day.
5. Expanded International FlightsPresident Tinubu facilitated direct flights for Nigerian airlines to major global destinations, including London, São Paulo, Bogotá, Entebbe, Dar es Salaam, Algiers, and St. Kitts and Nevis.
6. Reduction in Oil TheftOil theft has dropped to less than 10,000 barrels per day, marking a sixteen-year low.
7. Revenue Targets AchievedNigeria achieved its full-year revenue target by August, a first in its history.
8. Stock Market GrowthThe Nigerian Stock Exchange rose above 130,000 All Share Index points for the first time.
9. GDP ExpansionThe economy expanded by $67 billion in just two years, growing from ₦269.29 trillion in May 2023 to ₦372.8 trillion today.
10. Non-Oil Revenue GrowthBetween January and August 2025, non-oil tax revenue rose 40.5% to ₦20.59 trillion, compared to ₦14.6 trillion in the same period in 2024.
11. Record Corporate ValuationMTN Nigeria Limited hit a record ₦10 trillion valuation, the first Nigerian company to reach this milestone.
12. Falling InflationFood prices have dropped significantly, reducing inflation to 16.05% from 20.12% in August 2025.
13. Lower Fuel PricesRetailers, including Dangote, have reduced fuel prices below ₦1,000.
14. Naira Stability
Naira has stabilised below ₦1,500 to the US dollar, making it one of the world’s best-performing currencies, according to Fitch Ratings.
15. Record Power GenerationNigeria broke its power generation record with a peak of 5,801.84 MW and a maximum daily energy output of 128,370.75 MWh.
16. Trade Surplus Growth
Nigeria’s trade surplus rose 44.3% in Q2 2025 to ₦7.46 trillion, surpassing Q1’s ₦5.17 trillion.
17. Lower Interest RatesThe Central Bank of Nigeria reduced interest rates by 50 basis points to 27%, the first cut since the COVID-19 pandemic.
18. Global Economic RecognitionFitch and S&P Global Ratings upgraded Nigeria’s economy to a Stable B rating.
19. Expert EndorsementEconomists, including Dr. Ngozi Okonjo-Iweala and Dr. Chukwuma Soludo, confirmed that President Tinubu has stabilised Nigeria’s economy.
20. Rail Transport GrowthRail transport expanded by 43.08% in Q2 2025.
21. Road Infrastructure ExpansionRoad transport grew by 24.50%, driven by ongoing mega-projects like the ₦13 trillion Illela-Sokoto-Badagry Superhighway and ₦15 trillion Lagos-Calabar Coastal Highway.
