Nigeria Sees Inflation Drop and Reserves Rise as Government Signals Economic Recovery

Nigeria’s economy is showing signs of recovery and renewed stability, according to President Bola Tinubu’s media adviser, Sunday Dare, who says the country is firmly on a path toward prosperity under the current administration.

Speaking at the 23rd Dare said President Tinubu inherited a structurally weak economy marked by fiscal indiscipline, policy distortions, and long-standing inefficiencies. However, he noted that recent reforms are beginning to yield measurable results.

Dare highlighted key indicators of progress, including a decline in inflation, rising gross domestic product, increased oil production, and stronger external reserves. He also pointed to major policy shifts such as the removal of fuel subsidies, improvements in fiscal transparency, and Nigeria’s successful exit from the Financial Action Task Force (FATF) grey list as evidence of renewed investor confidence and economic discipline.

According to Dare, these reforms have laid the groundwork for long term economic stability and growth, positioning Nigeria to better withstand global economic pressures while rebuilding domestic confidence.

Other speakers at the dialogue called for a frank assessment of Nigeria’s Fourth Republic, acknowledging gradual economic and governance improvements while warning that persistent insecurity remains a significant obstacle to sustainable development.

Despite the challenges, the consensus among participants was that Nigeria’s economic trajectory is improving, with reform momentum offering cautious optimism for the country’s future.