President Bola Tinubu says Nigeria’s economy grew by “over four per cent this year,” even as his government’s reforms have brought soaring inflation ahead of his reelection bid. Investors welcomed the changes, but young Nigerians remain a key concern in a country grappling with widespread poverty, hunger and persistent security crises.
The reforms and their cost
In his last Independence Day address, Tinubu called improvements “undeniable.” He said growth came from both the oil and non-oil sectors, oil theft had declined, and inflation had fallen “substantially from its peak.” His address pointed to those measures as evidence of economic progress, while soaring inflation remains one of the costs tied to the government’s reforms.
Tinubu said citizens would soon benefit from economic growth. He also described a future where young people could find work. But he remains unpopular among young Nigerians, whose support mattered in the previous presidential contest.
Tinubu won the presidency in 2023 after campaigning on promises to build on his predecessor’s efforts and deliver democratic dividends to citizens. Nigeria continues to face deadly security crises, government corruption, widespread poverty and hunger. In recent years, mass kidnappings and killings have increased, including in regions that had previously been spared the violence.
Who set the economic course
Tinubu launched major economic reforms at the start of his administration. At his inauguration in May 2023, he announced the removal of the decades-long fuel subsidy. He later floated the local naira currency by ending its distorted foreign exchange rate, triggering a major devaluation.
Tinubu’s government says the reforms saved the economy and gave the government more money. Investors welcomed the changes, but they also helped drive soaring inflation. The account attributes the policy decisions to Tinubu’s government; it names no international institution or outside framework as the force behind them.
The facts point to a tension in the government’s case. Officials cite economic growth and more public funds, while the reforms have also been linked to sharply rising inflation. Tinubu made the address’s claims of improvement and future benefits himself; citizens haven’t yet received those benefits, according to the article.
The election contest
Tinubu is running for reelection on January 16, 2027, against 18 opposition candidates. Analysts predict a three-man race that includes two leading contenders he defeated in 2023: Vice President Atiku Abubakar of the African Democratic Congress, described as a serial presidential candidate, and Peter Obi of the Nigeria Democratic Congress, a former state governor.
The article says Obi’s mass appeal to young Nigerians blew the last race wide open. That puts the youth vote at the center of the coming contest, alongside the economic record Tinubu highlighted in his Independence Day address. The source identifies opposition candidates and analysts’ predictions, but no nationalist movement or specific popular campaign against the reforms.