Bola Ahmed Tinubu promised to repair Nigeria’s damaged economic system and restore a way of safety. Now, as we attain the halfway level of his time period, hundreds of thousands of Nigerians are weighing these guarantees towards a brand new actuality one marked by rising costs, coverage shocks, and an unsure future.
Right here’s a comparative overview of Nigeria’s key financial indicators from 2023 to 2025 below President Bola Tinubu’s administration, exhibiting the impacts of main reforms akin to gas subsidy elimination and naira devaluation.
Key Financial Indicators: 2023 vs. 2025
| Indicator | 2023 | 2025 (Projected) |
| Actual GDP Development | 2.9% | 4.17% |
| Inflation Fee | 24.5% | 23.71% (April 2025) |
| Alternate Fee (₦/USD) | ₦671 (Dec 2023) | ₦1,555 (Jan 2025) |
| Fiscal Deficit (% GDP) | 5.1% | 3.0% |
| Oil Manufacturing (bpd) | ~1.5 million | Projected 2.3 million |
| Unemployment Fee | 33.3% | 22.6% (Q1 2025 est.) |
Evaluation
Financial Development:
Nigeria’s GDP progress slowed to 2.9% in 2023 attributable to excessive inflation and international financial challenges. Nevertheless, projections for 2025 point out a rebound to 4.17%, pushed by ongoing reforms and elevated funding.
Inflation:
Inflation surged to 24.5% in 2023, primarily attributable to gas subsidy elimination and naira devaluation. By April 2025, it barely decreased to 23.71%, reflecting gradual stabilization
Alternate Fee:
The naira depreciated from ₦671/USD in December 2023 to ₦1,555/USD by January 2025, following the unification of alternate charges and market liberalization.
Fiscal Deficit:
The fiscal deficit narrowed from 5.1% of GDP in 2023 to three.0% in 2024, attributed to subsidy removals and improved income assortment.
Oil Manufacturing:
Oil output elevated from roughly 1.5 million barrels per day in 2023 to a projected 2.3 million by mid-2025, attributable to enhanced safety and infrastructure.
Unemployment:
The unemployment price was 33.3% in 2023. Estimates for Q1 2025 counsel a lower to 22.6%, indicating potential enhancements in job creation.
Between 2023 and 2025, Nigeria’s economic system skilled reforms resulting in short-term challenges like excessive inflation and foreign money depreciation. Nevertheless, these measures have set the stage for potential financial stabilization and progress, with enhancements in GDP progress, fiscal steadiness, and employment indicators projected for 2025.