Nigeria President Tinubu’s Fiscal Reforms Spark Debate

An open letter to Dr. Chidi Amuta critiques the structural economic challenges facing Nigeria under President Bola Ahmed Tinubu. It notes that over 90 % of national revenue has been consumed by debt servicing and a costly petrol subsidy that siphons trillions of naira into non‑state actors, starving schools, hospitals and roads.

The letter also highlights the inefficiencies of Nigeria’s multi‑tiered foreign‑exchange system, which favours speculation over genuine manufacturing. Tinubu’s administration has moved to end the petrol subsidy and unify the foreign‑exchange windows, actions the author says will cause short‑term inflation pain but are intended to reverse decades of fiscal decay. The author warns that beneficiaries of the former system may mount media campaigns against the reforms.