Muda Yusuf, director and chief executive officer of the Centre for the Promotion of Private Enterprise (CPPE)
Nigeria’s bold economic reforms have succeeded in pulling the country back from the brink of a macroeconomic crisis, but the benefits have yet to reach millions of households grappling with high living costs, according to the Centre for the Promotion of Private Enterprise (CPPE).
Assessing the first three years of President Bola Tinubu’s administration, the private sector think tank said the government inherited an economy burdened by severe foreign exchange shortages, unsustainable fiscal practices, widespread market distortions and weakening investor confidence.
According to the CPPE, the administration’s decision to remove fuel subsidies and unify exchange rates represented the most significant economic reforms undertaken in decades, helping to restore macroeconomic stability after years of mounting vulnerabilities.
“When the administration took office, the economy was approaching a tipping point as the fiscal, monetary and structural
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