Television Nigerian

Chief Ayiri Emami, a leader of the All Progressives Congress in Delta State, has criticized President Bola Tinubu for approving a 15% ad-valorem import tax on gasoline and fuel, claiming that the action will make the plight of common Nigerians worse.

At a news conference on Thursday in Abuja, Emami brought up the issues.

The new tariff is intended to safeguard domestic refineries, stabilize the downstream oil industry, and bolster local refining capacity, according to the Federal Inland Revenue Service, which started the idea and won the President’s approval.

The proposal was part of continuing changes to “operationalize crude transactions in local currency, strengthen local refining capacity, and ensure a stable, affordable supply of petroleum products across Nigeria,” according to FIRS Chairman Zacch Adedeji.

Emami, the chairman and CEO of A & E Group, a construction, haulage, and oil company, disagreed.

He bemoaned that the legislation would “hurt the masses, not marketers” in an interview with reporters.

Additionally, the APC mainstay asked the President to put it on hold until the government gives Nigerians greater assistance.

“Mr. President is not benefiting from anyone’s advice to levy a 15% tax on petroleum at this time. This type of legislation will harm regular Nigerians rather than marketers.

“Any tax you impose on petroleum directly benefits the homeless. Nigerians already face hardship and hunger, he said.

Additionally, Emami cautioned that daily livelihoods have already been severely impacted by gasoline prices, especially for rural and riverine people that rely on transportation and fishing.

“Purchasing fuel determines whether you can even go out to fish,” he remarked. We can no longer afford to reach the fish, not that they have disappeared.

In my opinion, that 15% ought to be set aside until the government offers Nigerians additional assistance. There hasn’t been any improvement even after the fuel subsidy was eliminated. It’s still difficult. So why take on yet more burden?

The oil tycoon also voiced concern that the President must have been duped by some individuals.

“Some people only want to cause additional issues; they don’t care about Mr. President or what he’s going through. “Those are my genuine thoughts on the subject,” he continued.

According to reports, Tinubu approved the new pricing and ordered its immediate enforcement in a letter dated October 21, 2025, to the Nigerian Midstream and Downstream Petroleum Regulatory Authority and the FIRS.

Official estimates indicate that the 15% import tariff might raise the landing cost of gasoline by roughly ₦99.72 per litre, pushing pump prices in Lagos to roughly ₦964.72 per litre, which is still less than regional norms.

According to government sources, the policy is a part of initiatives to encourage the Dangote Refinery and modular facilities in the states of Edo, Rivers, and Imo to increase production and lessen Nigeria’s reliance on fuel imports, which still supply around 67% of the country’s fuel needs.

Industry analysts caution that without matching relief measures, the increased charge might put additional strain on people already struggling with the consequences of inflation and the elimination of fuel subsidies.

Rear Admiral Idi Abbas, the new Chief of Naval Staff, took office on Thursday and promised to step up efforts to combat maritime crimes endangering Nigeria’s economy, such as illicit bunkering and the theft of crude oil.

Speaking at the handover ceremony at the Navy Headquarters in Abuja, the 23rd Chief of Naval Staff acknowledged that despite significant progress, drug trafficking, illegal fishing, crude oil theft, sea robbery, and other maritime crimes that endanger national security and economic prosperity continue to threaten Nigeria’s maritime environment.

In order to tackle these issues, the naval chief announced his tenure’s top priorities, which include strengthening cooperation with other security agencies, prioritizing personnel welfare and training, boosting fleet capability through aggressive fleet renewal and increased use of technology, and improving maritime security.

“I am aware that a scourge of crude oil theft, sea robbery, illegal bunkering, illegal unreported and unregulated fishing, and drug trafficking continue to threaten our maritime environment,” he declared. The livelihoods of our coastal towns, the stability and prosperity of our beloved country’s economy, and energy security are all at risk due to these crimes.

“My tenure will be guided by a clear and actionable strategic approach to confront these challenges decisively. This approach will prioritize training and personnel welfare, strengthen maritime security and combat illegalities, enhance our fleet’s operational capability through aggressive fleet renewal use of technology, and foster inter-agency synergy, regional, and international collaboration.”
As the 23rd Chief of the Naval Staff, I stand before you today with humility and thanksgiving to God. “I will always be appreciative to Bola Ahmed Tinubu, the President and Commander-in-Chief, for believing that I am qualified to command the Nigerian Navy,” he declared.

The naval head praised Vice Admiral Emmanuel Nkechukwokala, his predecessor, for his “visionary leadership and service,” which he claimed had established a strong basis for the Navy’s ongoing advancement.

He emphasized that discipline and accountability will always be crucial and urged navy personnel to uphold the service’s essential characteristics of honesty, professionalism, and teamwork.

“I pledge to take the initiative and make sure that your well-being always comes first. reassuring Nigerians that the Navy will put up endless effort to protect the country’s seas and promote the expansion of the blue economy,” he stated.

According to reports, President Bola Tinubu named new service heads for the Army, Navy, and Air Force this week as part of a significant reorganization in the Armed Forces.

According to the All Progressives Congress (APC) Lagos State Chapter, President Bola Tinubu is bolstering institutions rather than appealing to sentimentality or social media antics.

According to reports, the statement comes after Phrank Shaibu, the Senior Special Assistant on Public Communications to former Vice President Atiku Abubakar, lashed out at Tinubu for what he called a “pardon U-turn.”

In response to the examination of the presidential pardon list, Shaibu stated that Nigerians are seeing an administration that considers its actions before acting.

Mogaji Seye Oladejo, the spokesperson for the APC Lagos Chapter, responded by calling the comment a “cocktail of ignorance, frustration, and political bitterness from a camp desperate for attention” in a statement released on Thursday.

Oladejo urged Atiku’s side to refrain from using ignorance as a weapon, pointing out that Tinubu’s leadership is based on the law rather than feelings.

Oladejo stated that Nigeria is progressing under Tinubu’s leadership and that no amount of political outbursts will alter the situation, while advising Nigerians to disregard Atiku’s camp.

“President Tinubu’s decisions are driven by due process, rule of law, and national interest, in contrast to the impetuous and ignorant commentary that has become the trademark of the opposition,” the statement said.

“Informed review and reconsideration are indicators of credible leadership and institutional maturity, not weakness, in advanced democracies.”

Consultation and constitutional improvement only result in a U-turn in the narrowest recesses of the opposition’s consciousness.

“The Nigerian people are tired of this childish, resentful politics in which wise governing choices are criticized for the purpose of making noise.

“Instead than appealing to sentiment or social media theatrics, President Tinubu is bolstering institutions. Petty politicians shout while responsible leaders construct.

“We implore Nigerians to disregard the most recent media outbursts from the side of a defeated politician.” Instead of the resentment and bewilderment that have come to characterize individuals who have been frequently defeated at the polls, President Tinubu will continue to lead with constitutional discipline, courage, and clarity of purpose.

“No amount of political outbursts will change the fact that Nigeria is progressing.”

A 15% ad-valorem import charge on gasoline and diesel imports entering Nigeria has been approved by President Bola Tinubu.

Although the program is intended to stabilize the downstream market and safeguard regional refineries, pump prices will probably increase as a result.

Tinubu instructed the Federal Inland Revenue Service and the Nigerian Midstream and Downstream Petroleum Regulatory Authority to implement the tariff immediately as part of what the government referred to as a “market-responsive import tariff framework” in a letter dated October 21, 2025, which was made public on October 30, 2025.

The letter, which our correspondent got on Wednesday and was signed by his private secretary, Damilotun Aderemi, expressed the President’s acceptance of a suggestion made by Zacch Adedeji, the Executive Chairman of the FIRS.

In order to bring import costs into line with domestic market realities, the proposal called for the imposition of a 15% tariff on the cost, insurance, and freight value of imported gasoline and diesel.

In his message to the President, Adedeji clarified that the action was a component of ongoing reforms to support local refining, maintain price stability, and fortify the naira-based oil economy in accordance with the administration’s Renewed Hope Agenda for fiscal sustainability and energy security.

“Operationalizing crude transactions in local currency, strengthening local refining capacity, and ensuring a stable, affordable supply of petroleum products across Nigeria are the core objectives of this initiative,” Adedeji said.

Additionally, the head of FIRS cautioned that market volatility has resulted from the current mismatch between locally refined products and import parity price.

He stated, “Price instability persists, partly due to the misalignment between local refiners and marketers, even though domestic petrol refining has begun to increase and diesel sufficiency has been achieved.”

He pointed out that the standard for setting pump prices, import parity pricing, frequently falls short of local manufacturers’ cost recovery levels, especially during freight and foreign exchange fluctuations, placing pressure on newly established domestic refineries.

According to Adedeji, the government’s role is now “twofold, to ensure a level playing field for refiners to recover costs and attract investments, while protecting consumers and domestic producers from unfair pricing practices and collusion.”

He said that the new tariff structure will promote a fair and competitive downstream environment and deter duty-free gasoline imports from undermining domestic manufacturers.

The 15% import tariff could raise the landing cost of gasoline by an estimated N99.72 per liter, according to estimates in the letter.

This is an increase of about 99.72 per litre at current CIF levels, which pushes imported landed costs in the direction of local cost-recovery without restricting supply or raising consumer prices over acceptable limits. The predicted Lagos pump costs would still be substantially lower than regional averages like Senegal ($1.76 per litre), Cote d’Ivoire ($1.52 per litre), and Ghana ($1.37 per litre) even after this modification, remaining in the range of N964.72 per litre ($0.62).

The strategy is implemented as Nigeria steps up attempts to increase domestic refining and lessen reliance on imported petroleum products.

While modular refineries in the states of Edo, Rivers, and Imo have begun small-scale petrol refining, the 650,000 barrels-per-day Dangote Refinery in Lagos has started producing diesel and aviation fuel.

But even with these improvements, up to 67% of the country’s petrol needs are still met by imports.

The Federal Government, headed by President Bola Tinubu, has been urged by the House of Representatives to act quickly to bring back the former splendor of Nigeria’s first-generation universities, such as the University of Nigeria, Nsukka; the University of Ibadan; and Ahmadu Bello University, Zaria.

Aderemi Oseni (APC, Oyo) sponsored the motion that was adopted during Wednesday’s plenary session, which was followed by the resolution.

Legislators overwhelmingly supported the resolution, “Need to Upgrade First-Generation Universities and Investigate the Quality and Standards of TETFUND Projects Across Federal Universities in Nigeria.”

According to Oseni, the first-generation colleges, which were founded in the early 1960s, used to be the height of academic achievement, with top-notch facilities, highly skilled instructors, and an atmosphere that won praise from all over the world.

But their once-enviable status has been undermined by decades of neglect, insufficient support, and deteriorating infrastructure.

He bemoaned the state of these universities’ lecture halls, dorms, and auditoriums. On the other hand, once-thriving establishments like university zoos, which were previously popular tourist destinations, are either nonexistent or abandoned.

The member also voiced concern over the subpar Tertiary Education Trust Fund intervention projects, claiming that, in contrast to buildings constructed more than 60 years ago, many recently finished projects already exhibit signs of deterioration.

In response, in order to guarantee value for money and accountability in the use of public funds, the House decided to carry out a thorough examination of the caliber and standard of TETFund projects carried out in federal universities.

Additionally, lawmakers called on development partners, the National Universities Commission, the Federal Ministries of Education and Finance, and TETFund to work together on ways to improve and rehabilitate first-generation universities.

The House also ordered its Committees on University Education, TETFund, and other pertinent organizations to look into finished and continuing projects in the nation’s tertiary institutions, make sure that standards are being followed, and report back within four weeks for additional legislative action.

According to reports, the universities, which include ABU, UI, UNN, and others, are among Nigeria’s oldest and most esteemed federal establishments. They were mostly founded during the period of independence in the early 1960s.

At first, they were the standard for intellectual excellence in Africa, drawing students and scholars from other countries.

These institutions have endured “decades of neglect, poor funding, and infrastructural decay,” as the motion makes clear.

Their “once enviable status” has been lost as a result of this ongoing decline, which has also lowered their stature internationally and made it harder for them to compete.

President Bola Ahmed Tinubu has been commended by Allen Onyema, Chairman and CEO of Air Peace Limited, for giving the policy backing that enabled the airline’s historic Abuja–London Heathrow trip.

He said that foreign airfares were reduced from up to $13,000 to roughly $3,000 thanks to the president’s intervention.

In an interview with ARISE News on Wednesday, Onyema called the achievement a turning point for Nigeria’s aviation industry and evidence of what can be accomplished when the public and private sectors work together effectively.

“I would want to congratulate President Bola Ahmed Tinubu for accomplishing this. This is an illustration of how the government can facilitate the growth of the private sector.

“The private sector is essential to the development of any nation because it embodies and carries out the government’s goals and objectives.”

“President Tinubu made the right decision for this nation.” Foreign airlines were compelled by his action to dramatically lower their ticket costs. From Abuja to Heathrow, the cost has dropped from $13,000 to $3,000, according to Onyema.

His remarks followed the launch of a direct route from Nnamdi Azikiwe International Airport in Abuja to London Heathrow Airport by Air Peace Limited on Sunday.

“The flight took off this morning, Sunday, October 26, 2025, and is expected to arrive this evening in London, marking a major milestone for Nigeria’s aviation industry,” the Minister of Aviation and Aerospace Development, Mr. Festus Keyamo, stated in a statement issued through his assistant.

The trip has “saved Nigerians money and made flying affordable again,” according to Onyema. The arrival of competition made even the Brits on our flights delighted.

The head of Air Peace disclosed that the airline currently runs 14 weekly flights between Nigeria and the UK, including routes from Abuja to London Heathrow and Lagos to London Gatwick. This is a first for any Nigerian airline.

He claimed that foreign airlines were compelled to reassess their prices as a result of entering the lucrative UK route, which was advantageous to all travelers.

The Lagos–London Gatwick and Abuja–London Heathrow routes will be operated concurrently by a Nigerian airline for the first time.

It has made the corridor accessible to all of the world, not just Europe. With our reasonable tickets, many of our passengers are traveling to America, Canada, and Asia via London, saving a significant amount of money.

“You can now fly other airlines at reduced fares even if you don’t fly Air Peace,” he continued.

“At least Nigerians now have a choice, even though Air Peace cannot fly everyone,” he stated.

Onyema gave Keyamo credit for spearheading the president’s aviation strategy, pointing out that after more than 15 years of restrictions, Nigerian airlines now have access to international leasing choices under Tinubu’s government.

“I can’t stop commending Festus Keyamo.” He is fully carrying out the President’s vision and mandate. Nigerian airlines will now offer leasing alternatives for the first time.

“The industry was blacklisted for more than 15 years, but this administration changed everything.” The Cape Town Convention Practice Direction, which permits large leasing firms to enter Nigeria, was signed by them.

“Nigerian aviation has been revitalized by the government,” he declared.

Additionally, Onyema praised the government’s decision to remove the 4% FOB tax on imported aviation parts, claiming that such accommodating measures had increased investor confidence.

“We only want supporting policies, not financial assistance. The president promptly eliminated the charge when we voiced our concerns. A government that listens does just that.

However, Onyema issued a warning against bureaucratic animosity toward local businesses.

“A pull-him-down syndrome still affects certain people. Destroying a business like Air Peace, which employs more than 10,000 Nigerians, is bad for the country. Insecurity increases when people are unemployed.

He reiterated Air Peace’s dedication to promoting Nigeria internationally, emphasizing that the nation, not only the airline’s founder, is responsible for its success.

“Air Peace is about Nigeria, not Allen Onyema.” “Every time we fly our flag in London, we demonstrate what Nigerians can accomplish when the public and private sectors collaborate,” he continued.

According to reports, Kayemo stated in June 2025 that the historic flight is the result of the Federal Government’s persistent diplomatic efforts to enforce reciprocity in international air travel agreements.

The breakthrough, according to the minister, was the outcome of a letter sent by the ministry to Rt. Hon. Louise Haigh, the UK Secretary of State for Transport, on August 1, 2024.

President Bola Ahmed Tinubu’s request to adopt a new external borrowing plan costing ₦1.84 trillion (about $1.23 billion) as recorded in the 2025 Appropriations Act to assist finance the nation’s growing budget deficit has been approved by the House of Representatives.

The House Committee on Aids, Loans and Debt Management, led by Abubakar Hassan Nalaraba, considered and approved a report during a plenary session on Wednesday.

The committee claims that the ₦9.27 trillion deficit in the 2025 fiscal framework will be partially addressed by the additional borrowing.

The House also approved the refinancing of a $1.12 billion Eurobond (7.625% USD1.118 billion due November 2025) in an effort to lessen repayment pressure and stabilize Nigeria’s financial position.

According to the resolution, Nigeria would be able to avoid a debt servicing constraint and lower the risk of volatility in its external commitments by refinancing the maturing Eurobond.

Legislators also approved the federal government’s plan to obtain an extra $2.35 billion through various international financial instruments in addition to the loan and Eurobond refinancing.

These include the issue of Eurobonds, loan syndications, bridge financing arrangements, and other external borrowings from international financial organizations.

The resolution states that this financing window will disperse borrowing risks and offer flexibility for government finance needs.

The House also approved the issuance of a $500 million debut stand-alone Sovereign Sukuk on the global capital market in an effort to diversify Nigeria’s debt instruments and draw in Islamic-compliant investors.

The lawmakers clarified that in order to boost competition and guarantee investor confidence, the Sukuk may be issued with or without credit enhancement.

In addition to its domestic Sukuk program, which has been utilized to finance infrastructure and road projects, this is Nigeria’s first independent sovereign Sukuk on the global market.

The House resolution states that the new borrowing plan is consistent with President Tinubu’s fiscal strategy, which aims to:

bolstering Nigeria’s foreign reserves, keeping the currency stable, financing vital infrastructure projects, and controlling the nation’s mounting debt commitments.
The strategy, according to lawmakers, was intended to ease financial strain on the government, draw in a variety of investment sources, and guarantee a long-term equilibrium between debt repayment and national advancement.

According to reports, Nigeria’s overall public debt has been rising, and experts have cautioned about the nation’s growing reliance on foreign borrowing to cover budget deficits.

The plan’s proponents, however, maintain that borrowing is still required to finance capital projects, promote growth, and reassure investors of Nigeria’s fiscal stability.

The House resolution emphasized the importance of prudent debt management and openness in the use of borrowed money.

Nigeria’s economy is changing as a result of a number of challenging but essential changes, and Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, deserves a large portion of the credit for this development. Under his leadership, the country has started to transition from years of budgetary hardship and policy ambiguity to a more stable, open, and growth-oriented framework that is winning back trust both domestically and internationally.

Nigeria’s economic recovery is no coincidence. As Minister of Finance and Coordinating Minister of the Economy, Wale Edun has painstakingly and carefully guided an ambitious, well-organized agenda of reforms and institution creation. The cumulative impact of complementing policy actions that collectively have decreased distortions, enhanced openness, and reopened corridors of international confidence is what is remarkable rather than a single noteworthy accomplishment.

Edun’s strategy has blended political acumen with technological precision. In addition to safeguarding priority spending, bolstering revenue management, and reestablishing the integrity of financial institutions, he has emphasized on regaining fiscal credibility. When combined, these actions have started to alter how partners and markets view Nigeria and are already producing quantifiable, albeit gradual, results. Although they are helpful indicators of that development, recent international evaluations and market responses are not the whole picture.

International organizations and investors are already observing the effects of this change. Nigeria’s GDP growth prediction for 2025 was recently upgraded by the International Monetary Fund from 3.4% to 3.9%. The IMF claims that increased oil output, increased investor confidence, and a more robust fiscal policy environment are all reflected in this revision. Such advancements are not coincidental. They are the result of the government’s unambiguous resolve, under Edun’s direction, to tighten coordination between fiscal and monetary authorities, improve debt sustainability, and restore macroeconomic discipline. The upgrading is an endorsement of Nigeria’s economic reforms as well as the legitimacy of its leadership group.

Nigeria’s official removal from the Financial Action Task Force’s (FATF) “grey list” in October 2025 marked another noteworthy milestone. The FATF is a global blacklist for nations that are being closely watched for inadequacies in their efforts to prevent money laundering and terrorism funding. Nigeria’s improved interagency collaboration and reform advancements were recognized by the FATF as being crucial to its ruling. The Nigerian Financial Intelligence Unit, the Central Bank of Nigeria, and other authorities collaborated closely with the Ministry of Finance under Edun’s direction to improve financial transaction transparency, modernize financial crime monitoring technologies, and fortify compliance frameworks.

The ramifications of this accomplishment are extensive. It is anticipated that Nigeria’s removal from the grey list will facilitate cross-border financial transactions, enhance correspondent-banking ties, and lower the cost of foreign capital. Investors see it as an indication of a safer, more regulated corporate climate. It translates into increased opportunities for economic inclusion, job creation, and investment inflows for residents. In summary, for a government looking to restore confidence in Nigeria’s economic governance, it is both a technical and symbolic achievement.

Edun’s ability to create and implement a cogent reform plan that balances economic restraint with transparency and creativity has been the key to his success. In order to provide better value for money, his ministry has prioritized expanding Nigeria’s income base through non-oil sectors, enhancing tax administration, and rationalizing governmental spending. The main objective is to make the economy more responsive to the demands of its citizens and less susceptible to shocks from the outside world.

Edun and his team described how a renewed sense of purpose centered on modernizing public financial management systems, bolstering institutional capacity, and encouraging accountability at every level is driving reforms in a recent reflection titled “Nigeria Turning Towards Prosperity” published by the Federal Ministry of Finance. This focus on systemic transformation is progressively fostering trust among investors and development partners as well as among regular Nigerians who are starting to notice signs of responsible government.
Even Nevertheless, Edun has frequently admitted that there are obstacles in the way of success. Infrastructure deficiencies continue to impede productivity, inflation is still a major issue, and the government needs to do more to guarantee that growth results in higher living standards. However, the government has set the groundwork for inclusive and long-lasting advancement by tackling these structural problems through uniform policy execution and cross-institutional cooperation.

What is happening is that Nigeria’s economic story is quietly but significantly changing. The nation is regaining its position as one of Africa’s top economies because to a mix of responsible financial management, improved institutions, and trustworthy interactions with foreign partners.

Wale Edun has shown both technical proficiency and political bravery in a time when economic policymaking need both. He has assisted in guiding Nigeria along a path of recovery and restored international trust by placing a high priority on fiscal credibility, transparency, and institutional change. Nigeria’s economy is stabilizing, investor morale is improving, and the promise of shared prosperity is once again within grasp, despite ongoing hurdles.

The goal of these reforms is to revive faith in Nigeria’s story—one of resiliency, reform, and renewal—rather than just focusing on statistics and forecasts. His leadership has demonstrated that the Nigerian economy can, in fact, turn the corner towards sustainable growth and long-term prosperity with the correct leadership, sensible policies, and transparent accountability.
After a period of persistent imbalances and diminished investor confidence, clear policy decisions, institution-building, and meticulous reform sequencing are being implemented. Improved international ratings, a more transparent macroeconomic framework, and a gradually expanding foundation for sustainable growth are the outcomes.

Dale In this process, Edun has served as a link between the political and the technical. Only when legislators handle communication and sequencing with the same attention as they do the substantive policy decisions will reform be successful. Edun has worked to modernize tax systems, fortify organizations in charge of maintaining financial integrity, and allow private investment in the economy while maintaining fiscal credibility. The end product is a reform architecture that gives institutional longevity and technical fixes equal weight. This combination has been essential to obtaining the IMF improvements, the FATF delisting, and revived investor interest, according to observers who monitor policy implementation.
The priorities are obvious when looking ahead. To maintain the FATF delisting, combine improvements in financial supervision and anti-money laundering. Expand the income base via modernizing taxes and customs. Reforms that encourage private investment in infrastructure should be accelerated because governmental resources are insufficient. Additionally, make sure social protection is properly targeted to promote inclusive growth. These responsibilities call for ongoing policy discipline, improved federal and state delivery capabilities, and constant engagement to the public and private sectors.

Nigeria’s current situation is the result of difficult decisions and thoughtful planning. Wale Edun has played a key role in both that design and the patient diplomacy required to convert technical innovations into legitimate national policy. While the FATF ruling and the IMF modification are significant indicators, they also point to a more significant result: Nigeria is reconstructing the framework of contemporary economic governance. Long-term economic benefits will result from the preservation and development of that architecture.

The following noteworthy areas sum up the reform’s achievements:

strengthening GDP growth and composition

Growth has returned to positive territory under Edun’s leadership thanks to strong reforms. For example, real GDP increased by 2.98 percent in the first quarter of 2024 compared to 2.31 percent in the first quarter of 2023. Nigeria then saw 3.13% growth in Q1 2025, indicating an upward trend. The underlying pattern is one of recovery from stagnation and renewed dynamism, even though annual growth in 2023 was 2.74%, up from 3.10% in 2022.

Beyond the headline rate, measures bolstering the industry and services sectors—like the progressive liberalization of downstream oil, tax reform, and institutional enhancements—are starting to change the output composition in favor of more contemporary sectors.

Reducing the pressure to inflate

Data show a distinct disinflationary trend, suggesting that policy frameworks are regaining traction even though inflation is still a problem. The National Bureau of Statistics reports that headline inflation decreased from 22.22 percent in June 2025 to 21.88 percent in July. More generally, according to trading-economics data, inflation was 18.02% in September 2025, a decrease from more than 20% the month before. In summary, there is policy room for interest-rate moderation and household relief as the inflation tidal seems to be slowly retreating.

bolstering reserves and external buffers

The recovery of Nigeria’s foreign exchange reserves and external buffer is an important, frequently overlooked reform under Edun’s purview. At the end of 2024, the Nigerian Central Bank recorded net foreign exchange reserves of US$23.11 billion, the largest amount in three years. In December 2024, gross external reserves increased from US$33.22 billion to around US$40.19 billion. More recently, reserves reached their highest point since December 2021 in August 2025, surpassing US$41 billion. These reserve gains boost investor confidence, strengthen Nigeria’s ability to withstand external shocks, and strengthen its currency defense capability.
Reform architecture, institutional fortification, and policy coherence

A cogent reform framework lies at the core of these advancements. Four interrelated pillars have been pursued by Edun and his team: (i) fiscal consolidation and the rationalization of subsidies; (ii) revenue mobilization and tax modernization (including mandatory e-invoicing for large taxpayers, digital tax systems); (iii) public financial management reform, debt-portfolio rationalization, and transparency improvements; and (iv) institutional and regulatory strengthening, particularly in financial-crime supervision, anti-money-laundering mechanisms, and liberalization of foreign exchange markets. For instance, these institutional changes served as the foundation for Nigeria’s delisting from the FATF gray list in October 2025.

These are not surface-level reforms. By design, they improve ratings, lower risk premia for investors, increase the legitimacy of the political environment, and provide room for private-sector investment that boosts GDP.

It’s not a lap of victory. This is a preliminary evaluation. However, as of right now, the signal is clear. Nigeria has started to translate policy bravery into institutional advancement and quantifiable economic results under Wale Edun’s leadership.

The next challenge is to increase the scope and durability of those benefits so that reform becomes a long-term route to shared prosperity rather than a one-time event.

It is impossible to overestimate the cumulative impact of these changes. Nigeria is repositioning itself for the next stage of economic transition with better growth, reduced inflation pressure, greater external buffers, and strengthened institutional frameworks. Nevertheless, there are still significant obstacles to overcome, such as closing infrastructure gaps, guaranteeing that the common citizen benefits from reform, and maintaining the momentum of income and investment mobilization.

Edun has compared his work to that of a conductor coordinating several reforms while maintaining harmony and rhythm across institutional, monetary, and fiscal tools. Building the framework for long-lasting transformation is just as important to his success as headline numbers. The FATF delisting and the IMF growth updates are significant turning points, but the real effort lies in restoring trust, implementing systems, and layering changes.
Let’s say Nigeria may now use this platform to achieve inclusive growth, draw in long-term investments, and strengthen structural reforms. In that scenario, the accomplishments thus far will signal the start of what may turn out to be a long-term period of revitalization. Nigeria has established the groundwork under Wale Edun’s leadership; the next challenge is to build upon it and establish reform-led growth as the new standard.