Nigeria’s Tinubu reforms stabilize economy, boost investment and launch lithium plant

President Bola Tinubu’s economic reforms, including the removal of fuel subsidies and fiscal consolidation, have averted a near‑collapse of Nigeria’s economy, according to Finance Minister Taiwo Oyedele. The reforms restored macro‑stability, enabled a target of 7% real GDP growth and lowered inflation, while protecting small businesses and low‑income earners.

The reforms are also being credited with reviving investor confidence. Minister of Budget and Economic Planning Abubakar Bagudu said they have made Nigeria Africa’s most attractive investment destination, citing new partnerships and a memorandum of understanding on hydrogen development. Vice‑President Kashim Shettima echoed these points at the Jigawa State Investment Summit, noting streamlined business registration, the Business Facilitation Act and a unified foreign‑exchange market.

In the power sector, Minister of Power Joseph Tegbe outlined a plan to stabilise electricity supply, improve metering, curb theft and publish performance scorecards for generators and distributors. He pledged tangible improvements before year‑end and highlighted ongoing mini‑grid projects serving 50,000 people.

President Tinubu also commissioned West Africa’s largest lithium‑processing plant in Nasarawa State, a facility with a daily capacity of 6,000 tonnes. The plant is expected to create more than 1,000 direct jobs and position Nigeria in the global minerals economy, underscoring the administration’s focus on turning raw resources into value‑added production.