The Centre for the Promotion of Private Enterprise (CPPE) has said that while the economic reforms implemented by President Bola Tinubu’s administration over the past three years have succeeded in restoring macroeconomic stability and averting a deeper economic crisis, the benefits have yet to translate into significant improvements in the living conditions of ordinary Nigerians.
Muda Yusuf, Chief Executive Officer of CPPE, observed in an assessment of the administration’s three years in office, noting that a fair evaluation of the government must take into account the severe economic challenges it inherited in May 2023.
According to Yusuf, the administration assumed office amid acute foreign exchange illiquidity, multiple exchange rates, declining investor confidence, mounting fiscal pressures and an unsustainable fuel subsidy regime that had become a major drain on public finances.
He said the government’s decision to remove fuel subsidies and unify exchange rates constituted the cornerstone of its economic stabilisation
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