By John Moses
As Nigeria’s political landscape begins to shift towards the 2027 general elections, a prominent policy-focused think tank is calling on President Bola Tinubu to maintain the momentum of his economic reform agenda, warning against the temptation to ease off ahead of the next electoral cycle.
The Independent Media and Policy Initiative (IMPI) made the appeal during a press briefing in Abuja on Tuesday, where its chairman, Omoniyi Akinsiju, praised the administration’s structural reforms and highlighted recent indicators of economic recovery.
“The president must resist the urge to slow down reform efforts as political pressures mount ahead of 2027,” said Akinsiju. “What matters now is ensuring that ordinary Nigerians—not just investors—begin to feel the real benefits of this economic overhaul.”
The group pointed to recent positive assessments by major international financial institutions. Moody’s Ratings, for instance, recently upgraded Nigeria’s credit score to B3 from Caa1, citing improvements in the nation’s external and fiscal dynamics. Similarly, Fitch Ratings elevated Nigeria’s sovereign credit outlook to B stable in April, reflecting a greater level of confidence in Tinubu’s reform agenda.
Akinsiju also referenced commendations from the World Bank, which in its “Nigeria Development Update” attributed the country’s improving fiscal position to rising federation revenue and ongoing policy changes. The bank forecasted a 3.4% full-year economic growth rate for 2024—the highest since 2014, excluding post-COVID rebounds.
According to the IMPI, Nigeria’s economy recorded a 4.6% year-on-year growth rate in Q4 of 2024, and there are growing indications of job creation, particularly in the services sector. While youth unemployment remains a concern, the organisation suggested that sector-driven policies are beginning to make an impact.
The Financial Times, Akinsiju added, had also taken note of Nigeria’s improving macroeconomic conditions, stating in a recent report that the country is in better economic shape now than it has been in the past decade.
However, the publication also acknowledged the hardships facing millions of Nigerians amid a cost-of-living crisis, reflecting the disconnect between economic indicators and public sentiment.
Despite these challenges, the IMPI urged the Tinubu administration to remain focused on implementing its “shock therapy” reforms, stating that short-term sacrifices would eventually yield long-term gains for the Nigerian population.
