Can Tinubu Fix Nigeria’s Economy Before 2027?

As President Bola Ahmed Tinubu clocks two years in office, Nigerians all over the country have been pondering and clueless on whether he can truly fix Nigeria’s economy before his first term ends in 2027.

While there’s no shortage of opinions, a common thread among economists and policy experts is clear progress has been made, but it’s not nearly enough.

Foundations have been laid but what next?

The President’s administration came in with bold reforms. Removing fuel and forex subsidies, pushing through tax bills, initiating credit schemes, and rolling out major infrastructure projects were not easy decisions.

They stirred hardship in the short term, especially for ordinary Nigerians, but many analysts agree they were necessary first steps. Still, those steps now need to lead somewhere.

Experts say the next two years must be about building on these reforms to deliver real, inclusive growth. That means a shift from survival-mode policymaking to a more coordinated, deliberate economic strategy, one that lowers the cost of living, tames inflation, and drives investment into industries that matter.

The cost of living is the core crisis

No economic recovery is credible if it doesn’t address the pain of daily life for millions. From staple foods to transport and education, prices remain high and wages remain stagnant.

Economist Dr. Muda Yusuf believes the President must focus on making essential goods and services more affordable. This goes beyond monetary tightening, it requires structural solutions: ramping up food production, ensuring steady power supply, improving transport systems, and reducing over-reliance on imports.

And none of this will happen without first tackling insecurity. Farmers can’t farm, investors can’t invest, and goods can’t move if people don’t feel safe.

Coordination is Key

While the Central Bank has made progress in stabilising monetary policy, experts insist it can’t work in isolation. Nigeria needs tighter coordination between fiscal and monetary authorities. Inflation, interest rates, and forex challenges must be addressed with a unified voice.

What’s more, revenue must be better managed. The savings from subsidy removal should be clearly seen in education, healthcare, and agriculture not just in speeches or projections. Transparency is crucial to rebuilding public trust.

Focus on Industrial Growth and MSMEs

The calls are growing louder for Nigeria to embrace a clear industrial policy. Without one, we’re like a ship sailing with no map. Segun Ajayi-Kadir of the Manufacturers Association of Nigeria highlights the urgent need to finish power projects like the Ajaokuta-Kaduna-Kano gas pipeline. 

It’s expected to boost electricity by 3.6 GW enough to ease manufacturers off diesel and reduce production costs.

Supporting micro, small, and medium enterprises (MSMEs) is another major pillar. Simplifying taxes, streamlining regulations, and improving access to finance are key steps the government must take if it wants to create jobs and grow local industries.

Tapping into the Capital Market

Finance experts like Dr. Faruk Umar believe Tinubu’s government can do more with the domestic capital market. There’s room to raise funds through project-linked bonds, a move that could speed up infrastructure development while involving more Nigerians in wealth creation.

This approach, however, requires trust, clear plans, and accountability things that are often in short supply in Nigerian governance.

Is the road to 2027 hope or hype?

There’s cautious optimism in the air. Many analysts believe the government still has time to shift the tide, but it needs to act decisively and fast.

The next two years will be crucial. If Tinubu wants to be remembered as the president who rescued the economy, not just reformed it, he must go beyond the headlines and deliver results people can feel. That means food on the table, electricity in homes, affordable transport, and a sense of stability for families and businesses.