[REVISION HISTORY]

Nigeria Tinubu reforms and development

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2026-08-26 11:55 UTC → 2026-09-02 15:57 UTC · added ~~removed~~

In early May 2026, a Quartus Economics report showed Nigeria’s economy accelerating, with 8.34% cumulative GDP growth over 2024–25 and rising business confidence, while the naira posted its strongest weekly gain in months. The administration attributed the turnaround to President Bola Tinubu’s reform agenda. By July, the focus shifted to visible infrastructure and service delivery. President Tinubu inaugurated the renovated Abuja City Gate and a 198-km water pipeline for the Federal Capital Territory, and approved major road projects including extensions of the Fourth Legacy Highway and the Lagos–Calabar Coastal Highway. Simultaneously, the Rural Electrification Agency launched dozens of solar-hybrid mini-grids across several states, targeting over a million households. Agricultural support expanded with multiple fertilizer distribution programmes and a federal 10-million-bag scheme. In late July, Power Minister Joseph Tegbe announced a “Resetting the Sector” agenda to address ₦3.3 trillion in legacy debt. Financial markets remained highly active in August. The Nigerian Stock Exchange (NGX) saw significant activity, with the benchmark index posting a 67% rise in U.S.-dollar terms during the first half of 2026, outpacing South Korea’s KOSPI. Billionaire Femi Otedola continued his aggressive expansion in First HoldCo Plc, describing his investment of over ₦600 billion as a “generational bet.” ~~His total 2026 investment of approximately $300 million raised his stake to 26.1%, contributing to his rise as Africa’s fastest-growing billionaire.~~ Infrastructure efforts expanded in August with the launch of the ₦178 billion Kaduna–Birnin Gwari road reconstruction and the flagging off of the Ibadan–Ijebu-Ode road project. ~~Meanwhile,~~ In late August, the Central Bank of Nigeria ~~managed liquidity through massive Open Market Operations, which led to~~ (CBN) conducted its second and final Nigerian Treasury Bills auction for the ~~cancellation of a~~ month, offering ₦700 billion ~~Treasury bills~~ across 91-day, 182-day, and 364-day tenors. By early September, the CBN held its first auction ~~on August 5. Foreign exchange turnover also surged, reaching $3.73 billion in~~ of the ~~week ending August 7, driven by increased spot transactions.~~ month, offering ₦750 billion. This auction saw aggregate subscriptions of approximately ₦3.35 trillion.

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