When President Bola Ahmed Tinubu assumed office on 29 May 2023, he met an economy on the precipice of a sovereign debt crisis. Rather than kick the can down the road, President Tinubu executed the most courageous and comprehensive macroeconomic restructuring in Nigeria’s modern history. Driven by the “Renewed Hope” philosophy, the administration decisively dismantled the twin pillars of economic stagnation: the regressive petrol subsidy and the artificially pegged foreign exchange (FX) regime.
Three years into this administration, the evidence of success is irrefutable. The reforms have spectacularly improved Nigeria’s fiscal capacity, slashed the debt-service-to-revenue ratio from a perilous 97% to below 50%, and catapulted external reserves from under $4 billion in unencumbered funds to over $50 billion by mid-2026. By signing the historic Tax Reform Bills in 2025, the administration eliminated taxes for small businesses and paved the way for robust, private-sector-led growth. This dossier serves as the definitive, evidence-led record of how the Tinubu administration rescued the Nigerian economy and laid an unshakeable foundation for a trillion-dollar future.
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