As President Bola Ahmed Tinubu marks his second anniversary in office today, May 29, 2025, Nigeria stands at a critical threshold of history. The past two years have been defined by bold reforms, ambitious promises, and undeniable challenges.
Under the “Renewed Hope” agenda, Tinubu’s administration has pursued transformative policies to recalibrate Nigeria’s economy, elevate its global standing, and tackle longstanding domestic issues. Daybreak Nigeria’s editorial team evaluates the government’s performance across six key areas: economy, foreign direct investment (FDI), security, infrastructure, foreign policy, and anti-corruption, offering a balanced assessment of achievements, shortcomings, and the road ahead.
Economy:
President Tinubu assumed office vowing to revitalize Nigeria’s economy through bold reforms. The centerpiece was the removal of the fuel subsidy, costing $15 billion annually in 2022, per the World Bank assessment. Announced on inauguration day, this policy aimed to redirect fiscal resources to infrastructure, healthcare, and education.
Following the announcement, petrol prices surged from N185 to over N1,000 per litre, driving inflation to 33.69% in April 2024 before easing to 23.71% by April 2025, according to the National Bureau of Statistics. Food inflation hit 40.53% in April 2024, and soaring transport costs deepened multidimensional poverty, affecting 63% of Nigerians.
To mitigate the impact, the administration disbursed N7 billion to each state for development projects and N2 billion for subsidy relief. Cash transfers reached 3.5 million indigent Nigerians, and a compressed natural gas (CNG) initiative was floated to lower transport costs. Critics, however, argue these palliatives were insufficient and poorly targeted, leaving many households grappling with basic needs.
The unification of the foreign exchange market marked another bold reform, aimed at eliminating currency arbitrage and restoring investor confidence. By adopting a free-float naira policy, the administration cleared backlogs of international payment delays, enabling businesses to repatriate profits. The naira’s value plummeted by approximately 40%, but this liberalization attracted $50 billion in foreign direct investment commitments, as reported by the CBN, though actual inflows remain lower due to lingering security and policy concerns.
The policy also spurred a recovery in the stock market, with the Nigerian Exchange Limited reporting increased foreign participation by Q1 2025. However, the devaluation fueled imported inflation, contributing to the high cost of goods and services, particularly in urban centers like Lagos and Abuja.
The oil sector, Nigeria’s economic lifeline, has seen significant progress under president Tinubu. Crude production climbed from under 1 million to 1.8 million barrels per day by 2025, driven by enhanced security in the Niger Delta through Operation Delta Safe, which dismantled 1,978 illegal refineries. The revival of the Port Harcourt and Warri refineries, coupled with the Dangote Refinery reduced Nigeria’s $23 billion annual fuel import bill, saving an estimated $5 billion in 2024. However the operational status of both the PortHarccourt and Warri refinaries have remained controversial and uncertain.
However these gains, supported by the Petroleum Industry Act’s implementation, have increased government revenues, enabling investments in projects like the N15 trillion Lagos-Calabar Coastal Highway. However, fuel smuggling across Nigeria’s porous borders and high domestic prices continue to limit the benefits for citizens, with pump prices in rural areas like Borno often exceeding those in urban areas.
Fiscal and tax reforms have been critical in diversifying Nigeria’s revenue base. The Presidential Committee on Fiscal Policy and Tax Reforms, chaired by Taiwo Oyedele, introduced four executive bills in 2024 to streamline the tax system, consolidating 11 laws into a unified framework.
These reforms raised the tax exemption threshold to N800,000 annually for low-income earners, reduced corporate tax rates to 25% for larger firms, and exempted small businesses with turnovers below N50 million from Companies Income Tax.
The Nigeria Tax Administration Bill established a Tax Ombudsman to address taxpayer grievances, enhancing trust in the system. These measures are expected to boost non-oil revenue
The securitization of N30 trillion in ways and means debt into 40-year bonds with a three-year moratorium eased fiscal pressures, while the repayment of a $3.4 billion IMF loan in 2025 underscored improved financial discipline. Nevertheless, Nigeria’s debt service-to-revenue ratio, at 73.5% in 2025, remains a concern, diverting funds from critical sectors like health and education.
Economic indicators reflect cautious progress. GDP growth reached 3.86% in Q4 2024, the highest in three years, driven by agriculture (maize and rice exports rose 15%), services, and manufacturing. Unemployment dropped from 33% to 29% by 2025, partly due to social programs like the Nigerian Education Loan Fund (NELFUND), which has supported over 300,000 students, and the Consumer Credit Scheme (CREDICORP), which has enhanced purchasing power for 500,000 workers. The National Single Window initiative, launched in 2024, has reduced trade clearance times by 30%, boosting exports of non-oil products like sesame seeds and cocoa.
These efforts align with Tinubu’s $1 trillion economy goal by 2030, though achieving the required 6% annual growth remains challenging amid global commodity price volatility and domestic insecurity.
The economic reforms have come at a steep cost. The subsidy removal and naira devaluation sparked a cost-of-living crisis, with rural poverty at 75.5% and urban households spending 60% of income on food. The delayed implementation of the N70,000 minimum wage until mid-2024 offered limited relief, and palliative distribution has been criticized for inefficiencies, with reports of hoarding in states like Ogun and Kaduna.
Foreign Direct Investment:
Tinubu’s administration has aggressively courted foreign investors through economic diplomacy. The liberalized forex market enabled profit repatriation and cleared historic liabilities, securing $50 billion in FDI commitments. Notable deals include $2 billion in MoUs with Chinese firms and $4 billion in letters of intent across technology, automotive, and infrastructure sectors.
However, Nigeria’s FDI inflows remain below potential. Foreign investment in the stock exchange dropped from 58% in 2014 to 16% in 2022, and while 2025 data is incomplete, the trend suggests persistent investor caution due to security concerns and currency volatility. The failure to secure BRICS membership underlines Nigeria’s struggle to regain its global economic stature. To translate commitments into tangible investments, the administration must address infrastructural deficits and ensure policy consistency.
While diplomatic efforts by this administration have sparked investor interest, converting pledges into reality requires addressing structural bottlenecks and restoring confidence in Nigeria’s stability.
Security:
Under National Security Adviser Nuhu Ribadu, Tinubu’s administration has made strides in addressing Nigeria’s multifaceted security challenges. In the Niger Delta, Operation Delta Safe dismantled 1,978 illegal refineries, boosting crude oil production to 1.8 million barrels per day and enabling the resumption of production in Ogoniland after three decades.
In the Southeast, the grip of IPOB’s sit-at-home orders has weakened, with 50 police stations reopened. Cyberspace security has also advanced, with the National Digital Forensic Laboratory tackling crypto-linked economic sabotage, as seen in the Binance case.
Yet, insecurity persists. Militia herdsmen attacks in Benue, Plateau, Ebonyi, Ondo, Enugu, and Taraba have killed hundreds, destroyed properties worth millions, and displaced communities to IDP camps. Boko Haram, ISWAP, bandits, and emerging terror groups continue kidnappings and destabilization in the Northeast, Northwest, and North-Central, with fatalities among security forces and civilians. The Sahel’s jihadist threat and illegal arms flows remain challenges.
Ribadu’s intelligence-driven approach shows promise, but addressing poverty and unemployment is crucial for lasting stability.
Infrastructure:
Since assuming office, President Tinubu has positioned infrastructure development as a cornerstone of his “Renewed Hope” agenda, aiming to bridge Nigeria’s colossal infrastructure deficit and catalyze economic growth.
With an estimated $3 trillion needed over 30 years to close this gap, according to a World Bank analysis, the administration has prioritized transformative projects across transportation, energy, healthcare, and education.
Over the past two years, Tinubu’s government has committed significant resources totaling approximately N16.56 trillion to infrastructure, leveraging a mix of budgetary allocations, public-private partnerships (PPPs), and innovative funding mechanisms like the Renewed Hope Infrastructure Development Fund (RHIDF).
The administration’s infrastructure drive has been most visible in the road transport sector. A flagship project is the Lagos-Calabar Coastal Highway, a 700-kilometer artery connecting Lagos to the oil-rich Niger Delta. Estimated at N15 trillion, this project aims to unlock coastal economic potential and enhance regional connectivity.
Another major initiative is the 1,000-kilometer Sokoto-Badagry Superhighway designed to boost trade and agricultural logistics in the Northwest and Southwest. The Federal Executive Council (FEC) approved over N750 billion for this and other road projects in 2025, including the N19.4 billion Akure-Eta-Ogbese-Ekiti border to Ikere-Ado-Ekiti road, a 15-kilometer stretch in Ondo and Ekiti states. The Abuja-Kaduna-Zaria-Kano dual carriageway, a critical northern corridor connecting 12 states, received nearly N1 trillion in funding, with an 11-kilometer extension to Aminu Kano International Airport.
In energy infrastructure, Tinubu’s administration has revitalized the Presidential Power Initiative, a Nigeria-Germany collaboration launched in 2018, with a target to add 4,000 MW to the national grid by 2026.
Transmission projects completed in 2024 increased wheeling capacity by 700 MW, benefiting industrial clusters and urban centers. The shift to Compressed Natural Gas (CNG), supported by conversion centers established by the National Institute of Transport Technology, aligns with environmental goals and reduces reliance on costly fuel imports. However, the national grid’s 12 collapses in 2024 and stagnant generation at 5,000 MW show systemic weaknesses, with electricity tariffs rising under new consumption bands, straining households and institutions.
Also, the high cost of projects like the Lagos-Calabar Highway has fueled allegations of inflated contracts and cronyism. The power sector’s persistent failures, with grid collapses and inadequate generation, have frustrated citizens.
Foreign Policy:
Tinubu’s “4D” foreign policy: Democracy, Development, Demography, and Diaspora aims to reposition Nigeria as a regional and global leader. His election as ECOWAS Chairman in 2023 and active diplomacy, including trips to China, India, and Brazil, have secured investment commitments and strengthened bilateral ties. Nigeria’s hosting of an African counter-terrorism meeting in 2024 and advocacy for global financial reforms at the UN General Assembly reflect an Afrocentric, proactive stance.
Yet, Nigeria’s regional influence has waned. The initial forceful response to the Niger coup drew criticism, and the failure to join BRICS highlights gaps in Nigeria’s global posturing. Frequent foreign trips, one in every four days in his first year have sparked domestic backlash amid economic hardship. To regain its stature, Nigeria must align its foreign policy with domestic realities, ensuring diplomacy translates into tangible economic benefits. Tinubu’s foreign policy is ambitious but requires coherence and domestic synergy to restore Nigeria’s regional and global influence.
Anti-Corruption:
Since assuming office, President Tinubu has positioned the fight against corruption as a central pillar of his “Renewed Hope” agenda, describing it as a “cancer” that undermines Nigeria’s progress. With corruption estimated to have cost Nigeria over $400 billion since independence, the stakes are high for an administration promising transformative governance.
Two years into his tenure, the administration has recorded notable successes, including high-profile asset recoveries and structural innovations within the Economic and Financial Crimes Commission (EFCC).
A standout success is the recovery of over 750 properties from Godwin Emefiele, the former chairman of the Economic and Financial Crimes Commission (EFCC), a feat celebrated by the president as evidence of his commitment to dismantling entrenched corruption networks. The commission’s focus on high-profile cases has also seen the reopening of investigations into 13 former governors and numerous ministers, signaling a departure from the perceived leniency of past administrations.
For instance, the probe into the Ministry of Humanitarian Affairs, Disaster Management, and Social Development uncovered financial irregularities, leading to the suspension of Minister Betta Edu in January 2024 over the transfer of N585 million into a private account. The investigation also revealed N44 billion misappropriated from the National Social Investment Programme Agency (NSIPA).
The establishment of the Fraud Risk Assessment and Control (FRAC) department within the EFCC marks a strategic shift toward prevention over prosecution. Launched in 2024, FRAC focuses on identifying vulnerabilities in government ministries, departments, and agencies (MDAs), particularly in procurement and contract processes, which have long been breeding grounds for corruption.
By requiring MDAs, including the Presidency and National Assembly, to submit anti-corruption plans, FRAC aims to embed transparency in public sector operations. This proactive approach has been praised by anti-corruption experts like Femi Falana, who described it as a step toward reclaiming Nigeria’s “soul” from corruption’s grip. The EFCC’s efforts in combating internet fraud have also been effective, with Olukoyede reporting a significant reduction in cybercrime activities, challenging the global stereotype of Nigeria as a hub for “Nigerian scams.”
Despite these successes, the administration’s anti-corruption record is not without criticism. Transparency International’s 2024 Corruption Perceptions Index indicates minimal progress, with Nigeria’s ranking stagnating, reflecting public skepticism about systemic change. Allegations of selective justice persist, particularly with high profile persons. The EFCC has been accused of looking the other way in the naira abuse case involving ex-militant leader, Oweizidei Thomas Ekpemupolo AKA Tompolo. The commission has also been accused of shielding corrupt politicians of the ruling All Progressives Congress (APC).
However the question remains: is Nigeria a Nation on the Brink of Renewal?
Evidently, President Tinubu’s first two years have been a high-stakes experiment in governance. His administration has laid a foundation for long-term growth through infrastructure, security, and economic reforms, but the immediate costs have tested Nigerians’ resilience.
The “Renewed Hope” agenda has delivered visible wins—revived refineries, increased oil production, and global investment commitments—but the persistent cost-of-living crisis, insecurity, and governance challenges cast a long shadow.
As Nigeria moves into the second half of Tinubu’s term, the administration must prioritize tangible relief for citizens, diversify the economy, and strengthen institutions. The legacy of these years will depend on whether Tinubu can translate bold promises into prosperity that reaches every Nigerian. For now, the nation walks a tightrope between hope and hardship, with the jury still out on whether “Renewed Hope” will become a reality or remain a slogan.
[28/05, 2:17 pm] 08034004204: NAF FULFILS PROMISE AS GOVERNOR SULE COMMISSIONS COMMUNITY CLINIC IN RUKUBI
The Nigerian Air Force (NAF) has fulfilled its promise to the people of Rukubi, Nasarawa State, with the commissioning of a befitting community clinic constructed as part of efforts to atone for the tragic accidental airstrike of 24 January 2023. The newly built healthcare facility was officially inaugurated by the Executive Governor of Nasarawa State, Engr Abdullahi Sule, on behalf of the NAF, during a solemn ceremony that underscored a commitment to accountability, healing, and renewed partnership.
The Chief of the Air Staff, Air Marshal Hasan Abubakar, represented by AVM Ibikunle Daramola, described the clinic project in Rukubi as a meaningful act of restitution to improve local lives and enhance civil-military relations. He reaffirmed the NAF’s commitment to protecting Nigeria’s territorial integrity while remaining mindful of its responsibility to host communities.
Governor Abdullahi Sule praised the NAF for its humility and commitment to rebuilding trust, noting that while the loss of lives cannot be reversed, the clinic serves as a powerful symbol of healing, accountability, and renewed partnership with the people of Nasarawa State.
The ceremony concluded with prayers for continued peace, improved civil-military relations, and strengthened commitment to protecting civilian lives. As the clinic opens its doors to the public, it stands not only as a memorial to the past but also as a promise for a more compassionate and responsible future.
Leave a Reply