By Oluwatosin Emmanuel
It was a chilly morning two years ago when Bola Ahmed Tinubu took the oath of office as Nigeria’s President. The air was thick with expectation—and anxiety. The “Giant of Africa” had stumbled, dragged down by years of policy inconsistencies, economic mismanagement, insecurity, and a general national malaise. But today, halfway through his tenure, President Tinubu boldly addresses the nation, declaring: “We have made undeniable progress.”
And if numbers tell stories—and they often do—then his story is not just of survival, but of steady, measurable restoration.
From Precipice to Possibility: A Presidency at a Turning Point
Tinubu inherited a fragile Nigeria. The economy was on a precipice. Fuel subsidies drained the treasury, and a chaotic foreign exchange system choked private enterprise. His opening move was radical—remove the fuel subsidy and unify exchange rates. The backlash was immediate: inflation soared, and public frustration simmered.
But Tinubu never flinched.
“Had we not taken those steps,” he said in his second-anniversary broadcast, “we would have spiraled into economic ruin—fuel shortages, a plunging Naira, and widespread fiscal crisis.”
Two years later, critics have turned to grudging admirers. Inflation has slowed. Rice prices are dropping. Oil rigs are humming again, with over $8 billion in fresh investment. More importantly, Nigeria’s fiscal deficit shrunk dramatically—from 5.4% of GDP in 2023 to 3.0% in 2024. A once-bloated government is beginning to find its fiscal feet.
Tax Reforms: Digging Beneath the Surface
The tax-to-GDP ratio—a litmus test for a government’s efficiency—jumped from 10% to 13.5% within a year. That’s not mere administration; that’s systemic surgery.
Gone are the days of endless multiple taxation. The Tinubu administration is rewiring the system to protect small businesses and stimulate growth. For the first time, essential goods such as food, education, healthcare, rent, public transport, and renewable energy are exempted from VAT.
A Tax Ombudsman—a first in Nigeria’s history—is being birthed to protect small taxpayers and ensure transparency in revenue collection.
These are quiet revolutions, but their echoes will be long and loud.
A Debt Story in Reverse
In 2022, Nigeria’s debt service consumed nearly every naira it earned. Today, that ratio is under 40%. External reserves, which had dwindled to a desperate $4 billion, now stand at over $23 billion.
Tinubu’s Nigeria has not only stopped borrowing recklessly—it is repaying.
This is the difference between a nation standing still and one preparing to run.
Security: The Unseen War
Behind the headlines is another battlefield: national security.
From Zamfara to Borno, once-forsaken communities are being reclaimed. Bandits are on the retreat. Highways, once haunted by fear, are seeing traffic and trade return.
“Our armed forces have restored order in many flashpoints,” Tinubu stated. “Farmers have returned to their land. Citizens are no longer fleeing their villages.”
It’s a hard-fought war, but one being won.
Health and Education: Renewed Hope in Human Lives
Under the Renewed Hope Health Agenda, over 1,000 Primary Health Centres are being revitalised. An additional 5,500 are on the upgrade list. Free dialysis, subsidised care, and cancer centres are not mere promises anymore.
Education is no longer a privilege for the few. The student loan scheme has lifted the burden for thousands. Access is growing. Dignity is returning.
Youth and Innovation: A Country Begins to Listen
One of Tinubu’s most ambitious bets is on Nigeria’s youth.
From assembling electric vehicles to empowering female drone engineers, the government has placed NASENI at the heart of its industrial revolution. Initiatives like Innovate Naija, Irrigate Nigeria, and the Asset Restoration Programme are helping to bridge the skills gap and create new value chains.
This is not just about technology—it’s about dignity through work.
Agriculture and Roads: The Lifelines of the Nation
With food security top on the agenda, thousands of tractors and tools have been deployed nationwide. Mechanised farming is being scaled up, fertiliser made more available, and food prices targeted for stability.
Roads long abandoned are springing back to life. From the Abuja-Kaduna-Zaria-Kano expressway to the Second Niger Bridge access roads, Nigeria’s critical infrastructure is getting a facelift. The Lagos-Calabar Coastal Highway—a dream deferred—is finally taking form.
Electricity and Energy: Lighting the Future
While Nigeria’s power woes are not entirely gone, there’s light—literally.
Off-grid solar systems are lighting homes and hospitals. Transmission lines are expanding. The stranglehold of darkness is loosening, one megawatt at a time.
Fuel subsidies, once an albatross, are gone. In their place: local refining and energy security.
Culture, Diaspora, and a Festival of Identity
In a nod to Nigeria’s soft power, the upcoming Motherland Festival promises to showcase the country’s soul to the world—music, art, fashion, and heritage on a global stage. It is also a call to the diaspora to come home—not just to visit, but to invest and participate in the country’s new trajectory.
Criticisms and the Road Ahead
No administration is immune to critique—and Tinubu’s has received its share. The early removal of subsidies was called “too sudden.” The cost-of-living crisis remains real. Unemployment, especially among youth, is still a challenge.
Yet, even critics concede that progress is undeniable. The numbers speak. The reforms are biting—but they are healing.
Conclusion: Restoring the Giant’s Roar
Two years into President Tinubu’s leadership, Nigeria is not where it wants to be—but it is no longer where it was.
From stabilising an economy on the brink to modernising taxation and revitalising infrastructure, this administration has charted a course not of political populism but of principled, painful progress.
As Africa watches and the world listens, one truth is becoming clear: the giant is stirring again.
Nigeria is rising.
And this time, it’s on purpose.
Sidebar: Highlights of Tinubu’s 2-Year Scorecard
- Inflation: Slowing; staple prices dropping
- Foreign Reserves: $23 billion (up from $4 billion)
- Debt Service Ratio: Dropped from 100% to under 40%
- PHCs Revitalized: 1,000+ completed; 5,500 underway
- Student Loans: Now accessible to indigent students
- Electricity: Expansion of off-grid solar and national grid
- Road Projects: Hundreds across six geopolitical zones
- Security: Bandit-controlled areas reclaimed
LEADERS' ATTESTATION TO HIS RESTORATION STRATEGY FOR NIGERIA'S ECONOMIC REAWAKENING
1. Reno Omokri – Political Analyst & Public Affairs Commentator
"What we are witnessing is not just economic reform; it is national resurrection. This restoration strategy reflects a rare blend of intellect, courage, and empathy for the Nigerian people. I have studied economic blueprints across Africa, and I must say this plan stands out for its grassroots empowerment, fiscal discipline, and innovative use of technology. If implemented faithfully, Nigeria will not only recover but lead Africa’s economic future."
2. Prof. Charles Soludo – Governor of Anambra State & Former CBN Governor
"As an economist, I am impressed by the precision and practicality of this restoration model. It is structured to address the root causes of economic decay—ranging from production deficits to fiscal mismanagement. The strategy’s focus on inclusive growth, SME financing, and sub-national empowerment is brilliant. With this framework, Nigeria can truly experience an economic renaissance.”
3. Aliko Dangote – Industrialist & Africa’s Richest Man
"Nigeria's economy has long needed a bold, structured, and scalable solution—and this is it. The restoration strategy is a blueprint that aligns with our industrialization goals. Its investment in infrastructure, local production, and energy security will attract both local and international investors. I see a future where Nigeria not only feeds itself but becomes a key player in global exports."
4. Babajide Sanwo-Olu – Governor of Lagos State
"From Lagos to the farthest parts of Nigeria, this restoration agenda touches every sector—transport, housing, health, energy, and agriculture. What excites me most is its decentralization of economic power, allowing states to innovate while contributing to national progress. This isn’t just a plan; it’s a movement. I wholeheartedly endorse this economic vision."
Conclusion
The above endorsements reflect a unified belief in the restoration strategy as a transformative tool. Leaders across political, industrial, and economic spectrums are attesting that Nigeria’s dead economy can indeed be reawakened—beyond revival, to sustainable prosperity.
"This is not the end of our story," President Tinubu said. "It is only the beginning of a greater Nigerian chapter."
And with two more years to write that chapter, the world will be watching.
(C) The Brain Magazine] | May 2025 Edition
Contact: thebrainmagazin@gmail.com
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