Reno and President Tinubu
By Abayomi Susan
Reno Omokri’s recent commentary on President Bola Tinubu’s first two years in office reads like a victory lap, with a bold claim that the administration has racked up twenty‑one distinct economic achievements. The former presidential aide argues that the numbers tell a story of a nation finally getting its house in order, and he backs each point with data from the Ministry of Finance, the Central Bank and the National Bureau of Statistics. In a tone that mixes pride with a dash of caution, Omokri says the record is “a testament to what a focused government can achieve when it pairs political will with sound policy.”
First among the highlights is the steady climb of Nigeria’s gross domestic product, which has posted growth rates hovering around four percent for three consecutive quarters. Coupled with that, foreign exchange reserves have surged past the $45 billion mark, the highest level in six years, giving the country a much‑needed buffer against external shocks. Inflation, while still above the single‑digit target, has shown a clear downward trend, dropping from a peak of 24 percent to just under 18 percent, a relief for households that have felt the pinch of soaring food prices.
The energy sector, long the Achilles’ heel of the economy, has seen a dramatic turnaround. Crude oil production has risen to an average of 1.6 million barrels per day, helped by new offshore fields and a reduction in pipeline sabotage. At the same time, the government’s push for renewable energy has begun to bear fruit: solar farms in the north and hydro projects in the middle belt have added roughly 2,000 megawatts of clean capacity, cutting the country’s reliance on imported fuel and saving billions in foreign currency.
Infrastructure development has been another bright spot. Massive road projects, such as the Illela‑Sokoto‑Badagry superhighway and the Lagos‑Calabar coastal road, are already easing congestion and opening up rural markets. Rail transport has experienced a renaissance, with freight volumes up by more than forty percent and passenger services restored on key corridors. Ports have been modernised with automated cranes and digital tracking systems, slashing turnaround times and boosting export competitiveness.
On the fiscal front, the Tinubu administration has made strides in shoring up the nation’s finances. The debt‑to‑revenue ratio has fallen from a precarious 97 percent to a more manageable 68 percent, thanks to a combination of higher tax collections and a disciplined borrowing strategy. Non‑oil revenue has jumped by over forty percent, driven by reforms that have broadened the tax base and cracked down on evasion. The controversial removal of fuel subsidies, while painful in the short term, has freed up resources for capital spending and social programmes.
Social safety nets have been expanded in line with the economic gains. The government has created roughly 240,000 jobs through a mix of micro‑enterprise grants and public works, and the new national minimum wage of 70,000 naira has been signed into law, giving millions of workers a much‑needed boost. A student loan scheme has disbursed close to 100 billion naira to tertiary students, and a targeted cash‑transfer programme has reached over five million vulnerable households, helping to cushion the impact of the subsidy reforms.
In wrapping up his assessment, Omokri acknowledges that the achievements are not without challenges—unemployment remains high, power outages persist, and the global economic climate is uncertain. Nonetheless, he contends that the twenty‑one milestones represent a solid foundation on which to build. “If we stay the course,” he says, “the next few years could see Nigeria not just stabilising but truly thriving.” The question now is whether the momentum can be sustained long enough to translate these gains into lasting prosperity for the average Nigerian.
