Nigeria: President Tinubu's three years in office marked by bold reforms and economic hardship
via Punch Nigeria5 min read
President Bola Tinubu, who assumed office on May 29, 2023, has completed three years as Nigeria's president. His tenure has been characterized by significant policy decisions, including the removal of fuel subsidies, foreign exchange reforms, and tax adjustments, which supporters view as courageous steps to address long-standing issues. The administration highlights progress in infrastructure projects, increased government revenues, and efforts to attract foreign investment, arguing that these reforms are essential for long-term economic stability. However, critics point to worsening hardship for citizens, marked by high inflation, rising food and transport costs, and declining purchasing power. Insecurity remains a major concern across the country, with ongoing challenges from killings, kidnappings, and banditry, despite efforts by security forces. Electricity supply also continues to be a persistent frustration, with frequent grid collapses and tariff increases without corresponding improvements in service. The political landscape is divided, with the ruling All Progressives Congress defending the reforms as necessary and visionary, while opposition figures emphasize the increased suffering of the populace. As the 2027 general elections approach, the debate over Tinubu's legacy has intensified. Nigerians expect stronger action on insecurity, tangible measures to ease economic hardship, and improved electricity supply in the remaining year of his first term. The administrati
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Must ReadThe African Development Bank AfDB reported that Nigerian banks lend only 9.4 percent of the country’s Gross Domestic Product GDP to the private sector, indicating a limited role of the financial system in supporting business growth. This places Nigeria among the weakest performers in private sector credit provision compared to other major African economies like Kenya 31.6 percent, Egypt 28.3 percent, and Côte d’Ivoire 21.4 percent, and significantly below emerging lower-middle-income market economies such as Vietnam 121.6 percent. The AfDB’s African Economic Outlook 2026 report noted that Africa’s domestic credit to the private sector averaged 34.6 percent of GDP between 2020 and 2024, a decline from the previous decade and the lowest globally. The report attributes this weak credit environment to poor financial intermediation, low domestic savings mobilization, and regulatory weaknesses. Africa’s gross domestic savings averaged 16.6 percent of GDP between 2021 and 2024, well below the global average of 27.3 percent. The AfDB also pointed out that commercial banks across Africa hold significant government securities, reducing resources for business lending. For Nigeria, the AfDB described the financial system as shallow, with stock market capitalization averaging 11.8 percent of GDP between 2020 and 2024. The bank recommended deeper financial market reforms and greater use of financing instruments like green bonds and public-private partnerships to expand access to long-term
Must ReadThe Chief of the Air Staff, Air Marshal Sunday Aneke, stated that allegations of civilian casualties from military air operations significantly impact mission legitimacy, public confidence, and the Nigerian Air Force's reputation. Speaking at a seminar on Civilian Harm Mitigation and Response for Strategic Level Officers in Abuja, Aneke emphasized the need for stronger institutional understanding and application of civilian protection principles. He noted that operational success in contemporary warfare should encompass the protection of civilian lives and property, not just tactical achievements. Aneke highlighted that maintaining citizen trust is crucial for lasting operational success and that the Nigerian Air Force is working to institutionalize civilian harm mitigation mechanisms. He clarified that civilian harm mitigation enhances precision and decision-making rather than limiting operations. Aneke urged military personnel to improve target verification, assess operational outcomes, and respond professionally when harm occurs. The Nigerian military has faced criticism regarding civilian casualties during counterinsurgency operations, particularly in the North-East and North-West, with rights groups advocating for greater accountability.
Senator Austin Akobundu, representing the Abia Central Senatorial District, stated that the South East stands to benefit significantly if former Vice President Atiku Abubakar wins the next presidential election. Senator Akobundu expressed enthusiasm for the public support shown, interpreting it as a sign of trust and confidence in the political direction championed by Atiku and his supporters. He described Atiku as one of Nigeria's most experienced politicians, possessing extensive knowledge of governance, national unity, and economic management, which he believes are crucial for repositioning the country. According to Akobundu, the former Vice President understands Nigeria's challenges and has the political wisdom and national perspective needed to restore stability and development. He also suggested that an Atiku-led administration would bring greater inclusion and opportunities for the South East, emphasizing the region's need for a leader who values equity, fairness, and national integration. Akobundu referenced Atiku's role during former President Olusegun Obasanjo's administration, where he helped coordinate an economic team that fostered reforms and economic growth. The senator further noted that the strong turnout for Atiku in the recently concluded ADC presidential primary indicates that party members and supporters remain optimistic about his prospects.
Stephen Mangongo, the new coach of Nigeria's national men's cricket team and High Performance Manager of the Nigeria Cricket Federation, has invited 35 players to a 14-day training camp. This camp is in preparation for the 2026 Namibia Tri-Series. Mangongo, who recently signed a three-year deal with the NCF, will lead the team in his first assignment at the Tri-Series, scheduled from June 18 to 29 in Windhoek. He is working with former Female Yellow Greens head coach Leke Oyede and fitness coach Seye Olympio. The 35-man squad, selected from the recent Nigeria Super League, includes a mix of experienced players and new talents. Regulars include captain Sylvester Okpe, Nigeria Super League MVP Isaac Danladi, and Super League-winning captain Sulaimon Runsewe. Other established players are Isaac Okpe, Kenneth Boniface, Prosper Useni, Ridwan Kareem, Rahmon Ali, Peter Aho, Saturday Elijah, Sesan Adedeji, Solomon Chilemanya, Taiwo Mohammed, Vincent Adewoye, Selim Salau, Chiemelie Udekwe, David Ankrah, and Elijah Olaleye. Newcomers feature Oyo State star Chima Akachukwu, Eghosa Aghedo, Elochukwu Ndubudem, Eweka Ogbemudia, Gideon Durotoye, Ifeanyi Uboh, Ismail Abdullahi, Jimoh Abdulrahman, Miracle Akhigbe, Muheez Animashaun, Odion Isesele, Okasha Isiyaku, Reigneth Osagie, Samuel Mba Okwara, Victor Ipoli, Wareez Azeez, and Abolarin Abdulrasheed. The squad will be reduced to 16 players before the tournament, where Nigeria will compete against Namibia and Hong Kong, China, in a T20I tri-