The Democracy Watch Initiative (DWI) has endorsed President Bola Tinubu’s economic policies, pointing to recent reports from Bloomberg Economics and the World Bank as evidence of improved fiscal stability in Nigeria.
The organisation stated that these international assessments indicate positive shifts in the country’s investment climate and overall economic growth trajectories. According to the group, the data suggests that the current administration’s structural reforms are beginning to yield measurable results in terms of national fiscal performance.
While commending the federal government’s direction, the DWI also issued a call to state governments to manage their increased revenue allocations with greater accountability. The group urged governors to prioritise capital expenditure in critical sectors, specifically infrastructure, healthcare, education, agriculture, and job creation.
Strategic management of state revenue
The DWI’s endorsement comes as the Tinubu administration continues to implement macroeconomic adjustments. The group noted that the positive outlook shared by global financial institutions serves as a validation of the current fiscal trajectory, even as the nation manages the complexities of inflation and currency fluctuations.
In a statement regarding the administration’s economic direction, the DWI emphasised that the success of these federal reforms depends heavily on how well state-level governments implement supportive local policies.
The group argued that the increased revenue currently flowing to states must not be absorbed by administrative overheads or recurrent expenditure. They insisted that the funds should be directed into projects that provide long-term economic benefits, particularly in sectors like agriculture, which is vital for food security and rural employment.
The emphasis on healthcare and education spending reflects growing concerns regarding the social impact of recent economic shifts. The DWI noted that for macroeconomic growth to be sustainable, it must be accompanied by improvements in human capital and the basic quality of life for the citizenry.
The administration is currently working to stabilise the economy following the removal of the fuel subsidy and the unification of the foreign exchange market. While the DWI identifies improvements in the investment climate, the practical challenge remains ensuring that these macro-level gains translate into improved living standards at the grassroots level.
State governors have yet to issue a collective response to the DWI’s recommendations regarding the targeted use of increased revenue allocations for infrastructure and job creation.
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