Nigeria: Tinubu defends his reforms and promises to reduce the cost of living

Nigerian President Bola Tinubu defended on October 1st the economic reforms undertaken since he came to power in 2023. In his speech on the occasion of Nigeria's 66th anniversary of independence, he stated that the measures taken had allowed the economy to gradually recover.

According to figures put forward by the president, Nigeria is expected to register growth of more than 4% in 2026. He also cited the decline in inflation from its peak, the replenishment of foreign exchange reserves and greater stability in the foreign exchange market.

Tinubu acknowledges, however, that the reforms have caused significant hardship for households. He now states his intention to focus more on the cost of living, particularly by reducing production and transportation costs.

To achieve this, the government intends to develop agricultural irrigation and mechanization, improve transport infrastructure, strengthen access to electricity for businesses and support job creation and industry.

For the Nigerian president, the country is thus entering a new phase, focused not only on economic reforms, but on transforming growth into jobs, production and improved living conditions.

Yolande Bazié