Two years after the administration of President Bola Tinubu, Nigeria is at a crossroads. While the government highlights economic reforms, infrastructure profits and growing investments, many citizens are still loaded by inflation, insecurity and difficulties. The correspondent of the state's house, Leon Usigbe, in this piece, examines progress, pain and the way ahead.
Two years after the mandate of President Bola Ahmed Tinubu, his administration is marking his second anniversary with what he describes as “bold reforms to restore the economy and restore the global economic credibility of Nigeria.” With a wave of infographics, official statements and celebration events, the government paints an image of progress, resistance and renewal. But in the streets of Lagos, Kano, Port Harcourt and Makurdi, many Nigerians talk about pain, hunger and growing frustration.
The Tinubu doctrine: reform as a rescue
Tinubu assumed the position on May 29, 2023, with a dramatic statement that sent waves through each sector: “The subsidy has left.” That movement alone, in many ways, established the guideline for a presidency defined for its willingness to tear the old orthodoxies in search of economic review. In rapid succession a series of reforms arose: unification of currencies, tax adjustments, deregulation of the oil sector and the liberalization of energy generation laws.
The administration states that these reforms have borne fruit. According to official data:
• More than 900,000 small companies accessed the presidential loan and subsidy scheme.
• More than 300,000 students are beneficiaries of the National Student Loans.
• Nigeria's GDP grew by 3.84% in the fourth quarter of 2024, the fastest in three years.
• Foreign reserves increased from $ 3.99 billion in 2023 to more than $ 23 billion in 2024.
• Nigeria attracted more than $ 50 billion in new direct investment commitments (FDI).
• According to reports, 13,500 terrorists were eliminated through sustained military campaigns.
• A new N70,000 minimum salary was implemented in September 2024.
In the center of this impulse is the belief of administration in private capital, fiscal prudence and structural reform as a path to long -term prosperity. But it is the short -term consequences that continue to advance.
Reform and difficulties: a history of two realities
While the Tinubu government promotes achievements in infrastructure, security and investment entries, critics argue that their reforms have disproportionately harmed common Nigerians.
“The statistics sound impressive,” says Dr. Olufemi Banjoko, economist at the University of Ibadan. “But they don't tell him that inflation remains in two digits, or that food prices have tripled since subsidy elimination.”
In fact, the elimination of the fuel subsidy led to an increase in transport costs and food prices. A bread bar now costs almost twice what he did in May 2023. Despite the distribution of emergency food grains and fiscal vacations in basic foods, hunger levels have worsened, with urban and rural homes forced to the hard coping mechanisms.
The administration of Tinubu has responded with a variety of interventions: the Pulaku initiative for conflict resolution, the Food Security Emergency declaration, fertilizer donations and cash support. However, the public feeling is still fragile.
Infrastructure, industrial hopes and the vision of “renewed hope”
If the presidency of Tinubu must be judged by impulse, its high -scored administration. A key project review shows:
• More than 440 road projects throughout the country, including the Sokoto -Badagry SuperTAGy of 1,068 km.
• Launch of the renewed Hope Cities housing program.
• Resumption of operations in the Port Harcourt refinery.
• INTERVISION OF THE LIGHT Rail Abuja and the beginning of the Lagos -Calabar Coastal Highway.
• Updates in military and naval capacities, with new patrols and induced helicopters.
• Training expansion in digital skills under the program of 3 million technical talents (3MTT).
The government also has new regional development commissions and technology -centered projects such as the Tinubu technological innovation complex. In energy, the CNG presidential initiative is underway, and Nigeria registered its highest daily energy generation of 6.003MW.
However, the implementation capacity and transparency concerns are still many of these programs. Critics care that innovators and striking pitches may not translate into a sustained impact.
Foreign policy and regional position
In the International Front, Tinubu has assumed an active role. He was elected president of Ecowas, directed the delegation of Nigeria to the G20 Summit in Brazil, and organized global leaders such as Narendra Modi and Frank-Walter Steinmeier. His government signed the energy and historical infrastructure with the agreements of Qatar, Brazil and China, while pushing regional integration through the AFCFTA digital trade protocol.
But these global commitments came with controversy. The position of the Cecoas of the hard line of Nigeria on military blows in West Africa caused criticism for perceived overreach. At home, frequent foreign trips of Tinubu have caused leadership accusations in absence in times of crisis.
Security: some profits, but insecurity persists
The government says that 13,500 terrorists have been neutralized and several military operations have led to improve territorial control. However, the attacks of bandits, kidnappers and insurgents persist in many parts of the country. For many Nigerians, especially in the northwest and medium belt, life remains precarious.
The verdict so far: bold, hematoma and unfinished
Two years later, Tinubu's presidency is at a crossroads. He has delivered an ambitious reform agenda, no doubt. The numbers (foreign reserves, GDP growth, FDI, infrastructure milestones) have a strong case. But his critics argue that this is a history of technocratic success with little social cushioning for the masses.
As the government celebrates its milestones, it must also deal with a fragile public mood. Labor unions have made multiple protests, and a new minimum wage, although welcome, has not yet coincided with inflationary pressures. Trust in government remains low, and social discontent is applied under the surface.
Looking to the future
President Tinubu still has time to close the gap between reform and relief. That would require translate macroeconomic gains into lower food prices, better access to health and jobs for Nigeria's restless youth. Programs such as the Nigerian Youth Academy, skills artisans and Nigeria's outsourcing are steps in that direction, but expanding them and guaranteeing inclusion will be critical.
As the nation reflects on its first two years, the question remains: is the legacy of Tinubu as the painful beginning of Nigeria's economic rebirth or a lost opportunity marked by elite optimism and popular despair?
The next 12 months will probably say it.
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