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  • August 19th, 2026

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Nigeria's president Bola Tinubu attends a panel discussion during the Africa CEO forum under the theme “The Scale Imperative: Why Africa Must Embrace Shared Ownership,” at the Kigali Convention Centre in Kigali, Rwanda, May 14, 2026. Jean Bizimana/
Nigeria's president Bola Tinubu attends a panel discussion during the Africa CEO forum under the theme “The Scale Imperative: Why Africa Must Embrace Shared Ownership,” at the Kigali Convention Centre in Kigali, Rwanda, May 14, 2026. Jean Bizimana/
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Nigeria reforms helped to avert economic collapse, finance minister says

August 19th, 2026 | 13:15 PM WORLD Africa 1

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By Camillus Eboh

President Bola Tinubu's overhaul of Nigeria's economy, including scrapping a costly fuel subsidy and devaluing ​the currency, has helped to stabilise public finances, lift ‌foreign reserves and attract investment, Finance Minister Taiwo Oyedele said on Wednesday.

Tinubu's 2023 reforms have won backing from investors and international ​lenders, but for ordinary Nigerians they have been painful, and ​at least in the short term have exacerbated ⁠a cost-of-living crisis.

($1 = 1,349.8400 naira)

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