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Tinubu reforms shift Nigeria from fragility to growth as global pressures mount(Photos)
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Nigeria’s economic reform programme under President Bola
Tinubu is steadily moving the country away from a cycle of economic vulnerability toward a more stable and growth driven path.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, stated this during a press briefing at the Spring Meetings of the World Bank and the International Monetary Fund in Washington D.C.
He explained that the policy measures introduced since mid 2023 were designed not as temporary fixes but as structural changes that can sustain themselves over time while strengthening the economy against external shocks.
Edun noted that the global environment in which the meetings are taking place remains highly uncertain, with export tensions, trade disruptions and tightening financial conditions continuing to weigh on economies across the world.
Within this context, he said Nigeria’s approach is anchored on credible and disciplined macroeconomic management aimed at building lasting prosperity.
According to him, key reforms including the move to a market reflective foreign exchange system and the deregulation of fuel pricing are beginning to restore balance and reduce long standing distortions in the economy.

He added that these measures are already improving Nigeria’s capacity to absorb shocks that originate from outside its borders.
On inflation, Edun acknowledged that pressures remain, largely driven by energy costs, food prices and logistics challenges. However, he pointed out that government is responding through targeted social protection programmes and ongoing agricultural interventions to cushion the impact on citizens.
The Minister stressed that fiscal discipline remains central to the reform effort, with a clear departure from inefficient subsidy regimes and a renewed focus on prudent resource management.
Providing an update on key indicators, Edun said economic growth has exceeded four per cent, external reserves have risen to about 50 billion dollars and inflation is beginning to ease gradually. He added that public debt remains within sustainable limits.
Beyond the numbers, he said the reforms are unlocking domestic production and restoring confidence within the private sector.
The Minister cited major investments such as the Dangote Refinery as tangible evidence of renewed investor confidence, while noting that small and medium enterprises are benefiting from improved incentives.
He stated that Nigeria is now moving from stabilisation to a phase of accelerated growth and job creation, with power, agriculture, infrastructure and digital innovation expected to drive expansion.
Edun also disclosed that development partners at the meetings reaffirmed their support for Nigeria’s reform priorities, while investor interest continues to grow across energy, agribusiness and infrastructure sectors.
According to him, Nigeria is also pushing for reforms at the global level to reduce the cost of capital for developing countries, which remains a major constraint to growth.
The Minister expressed confidence that the country’s standing in the global economy is improving as its reform efforts gain recognition, adding that the policies will ultimately deliver sustainable growth and reduce poverty.
He further commended members of the Nigerian delegation and reaffirmed the Federal Government’s commitment to attracting investment and strengthening development partnerships.
In the same vein, the Governor of the Central Bank of Nigeria, Olayemi Cardoso, said the country remains firmly committed to sustaining reforms and preserving macroeconomic stability.
He explained that the meetings provided an opportunity to review Nigeria’s progress and reinforce institutional capacity needed to support long term economic resilience.
Cardoso noted that despite persistent global challenges, including geopolitical tensions and inflationary pressures, Nigeria has been able to contain external shocks through improved exchange rate stability and stronger reserves.
The Central Bank Governor emphasised that consistency in reform implementation is critical to building long term investor confidence.
Highlighting developments in the financial sector, he said the ongoing banking sector recapitalisation has mobilised 4.65 trillion naira in new capital.
As at the March 31 deadline, 33 banks had met the new capital requirements, significantly strengthening the resilience of the financial system and its ability to support economic growth.
He added that the exercise attracted strong participation from both domestic and international investors, reflecting sustained confidence in Nigeria’s banking sector.
Cardoso expressed optimism that continued reforms will reinforce stability, sustain growth and attract further investment into the economy.
News
OPay Rubbishes Viral Shutdown Rumour, Warns Against Fake Publication
By Our Correspondent.
Leading fintech company, OPay Digital Services, has dismissed as false and malicious a viral social media publication claiming that the company would embark on a prolonged break from September 1, 2026, urging its customers to withdraw or move their funds.
The fabricated publication, which gained traction across social media platforms on Sunday, purportedly warned OPay customers that the fintech would shut down its operations for an extended period beginning September 1.
However, OPay, in an official response published across its verified social media platforms, described the claim as false, assuring customers that the company remains fully operational.
In a statement titled, “This is FALSE!”, the fintech said: “OPay is not going on break by September. We’re here, and we’re going nowhere! 💚”
The company further urged its customers and members of the public to scrutinise the viral publication for inconsistencies and rely only on its verified communication channels for authentic information.
“True OPay users know how to identify our official communications. Take a closer look at the viral post and you’ll spot the red flags.
“Always verify before you share. Filter the noise! Follow our official pages for authentic OPay updates,” the company stated, ending the message with the hashtag, #OPayIsOkay.
Also reacting to the development, the Vice President, Public and Government Affairs, OPay Digital Services, Dr. Maxwell Loko, described the viral publication as “false, malicious and misleading.”
Loko said OPay was not shutting down and cautioned customers against taking any action based on the fabricated information.
“This post is false, malicious and misleading. OPay is not shutting down, and customers should not be misled into withdrawing their funds based on fabricated information,” he said.
He urged members of the public to disregard the publication and depend exclusively on OPay’s verified platforms for official announcements.
“We urge the public to disregard this post and rely only on OPay’s verified communication channels for official information,” Loko added.
The OPay executive further warned that deliberate attempts to spread false information capable of creating panic or undermining confidence in a financial institution could attract legal consequences.
“The deliberate spread of false information designed to cause panic or undermine confidence in a financial institution is a serious matter and may have legal consequences,” he said.
The development has also raised concerns over the growing use of fabricated digital content to damage the reputation of financial technology companies and potentially trigger unnecessary panic among customers.
While speculation has circulated in some quarters that the publication could be linked to competitive interests seeking to undermine OPay’s growing market position, no evidence has been publicly established to substantiate such claims.
OPay therefore advised its customers to exercise caution and verify financial or operational announcements through its authenticated communication channels before acting on them.
The company’s clarification effectively puts to rest the viral claim that it would cease or suspend operations from September 1, 2026, with OPay reaffirming that its services remain available to customers.
News
70-year-old granpa nabbed for sexual assault of 8-year-old girl in Bauchi
The Bauchi State Police Command has arrested a 70-year-old man, Usman Abubakar, over the alleged defilement of an eight-year-old girl in the Tsakanin Bayara area of Bauchi metropolis.
According to a statement issued by the Command’s Police Public Relations Officer, Superintendent of Police (SP) Nafiu Habib, the suspect was arrested following a complaint lodged at the ‘E’ Division, Yelwa, by the victim’s 48-year-old father on Wednesday, August 26, 2026.
According to the police, the father alleged that the suspect, who resides in the same area, lured his daughter to an uncompleted building on Sunday, August 24, where he allegedly sexually assaulted her.
The Command said its operatives immediately commenced action after receiving the report and arrested the suspect.
The police further stated that the suspect allegedly confessed to the offence during interrogation.
Following the incident, the victim was taken to the Police Clinic for medical examination and necessary care.
The Commissioner of Police, CP Sani-Omolori Aliyu, condemned the alleged offence and assured members of the public that the matter would be thoroughly investigated.
The case has been transferred to the State Criminal Investigation Department (SCID), Bauchi, for discreet investigation and prosecution, according to the Command.
The police reiterated their zero tolerance for sexual violence and child abuse, while urging parents, guardians and members of the public to remain vigilant and report suspicious activities to the nearest police station.
News
Peter Obi sympathizes with victims of Abuja market fire
Nigeria Democratic Congress, NDC presidential candidate, Peter Obi, has expressed sympathy with traders and business owners affected by the fire that gutted Eda Plaza in Jabi, Abuja, on Sunday.
Obi, in a statement posted on his X handle on Sunday, said the incident highlighted the need to strengthen Nigeria’s emergency-response systems, particularly the capacity of fire services.
A fire outbreak destroyed shops and goods reportedly worth millions of naira at the plaza, a building materials market opposite Chida Hotel in Jabi.
An eyewitness told the Nigerian Television Authority that the alarm was raised around 3am after a trader received a distress call about the fire.
The eyewitness said the fire destroyed one of his brother-in-law’s two shops and a packing store, with roofing materials worth more than N20m reportedly lost in the blaze.
There were no reported casualties.
Reacting to the incident, Obi said his “heart goes out to the traders, artisans, workers, families and business owners whose goods, investments and livelihoods may have been affected by this unfortunate incident.”
He noted that the losses suffered by the traders represented more than merchandise, noting that they included years of savings, borrowing and sacrifice.
“As a country, we cannot continue to lose businesses and livelihoods repeatedly to preventable disasters. Each time this happens, we gradually lose our productive capacity,” he said.
The former Anambra State governor said small businesses were “the backbone of our economy” and that losses suffered by traders could affect their families, workers and communities.
Obi urged authorities to strengthen emergency-response systems, particularly by ensuring that fire services were properly equipped and adequately staffed.
“As we grieve what has happened at Jabi Market, let us not wait for another market to burn before we act. Let this tragedy become a reason to strengthen our emergency-response systems, especially by ensuring that our fire service is properly equipped, adequately staffed and capable of responding swiftly to emergencies.”
“We must protect our small businesses and ensure that Abuja, and indeed Nigeria, becomes a safer place to live, work and invest,” he added.
Obi also prayed for those affected by the incident and emergency responders.
“May God comfort every person affected by this disaster, restore the livelihoods that have been lost, and grant our emergency responders the strength and wisdom required at this difficult moment,” he said.
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