Deloitte Backs Tinubu’s Reforms, Sees Nigeria on Recovery Path
Global consulting firm Deloitte has thrown its weight behind President Bola Tinubu’s economic reform agenda, saying the government’s bold policy decisions are beginning to steer Nigeria towards economic recovery and renewed investor confidence.
Speaking at Deloitte’s Economic Dialogue in Lagos, the firm’s West Africa Chief Economist, Yemi Kale, said recent reforms have started correcting long-standing structural weaknesses that had constrained the country’s growth for years.
According to Kale, key policies such as the removal of fuel subsidies, the unification of the foreign exchange market, and tighter fiscal management are already yielding positive results, including improved foreign exchange liquidity and increased confidence among local and international investors.
“The reforms have come with short-term pain, but they are addressing deep-rooted distortions in the economy,” Kale said, stressing that consistent implementation remains crucial to delivering sustainable economic growth.
Deloitte noted that Nigeria’s macroeconomic outlook has improved in recent months, pointing to stronger foreign reserves, signs of easing inflationary pressure, and a gradual rebound in economic activity.
The firm also highlighted encouraging performance across sectors including telecommunications, financial services, and manufacturing, describing them as key drivers of future growth if supported by stable policies and improved infrastructure.
Despite acknowledging the economic hardship many Nigerians continue to face, Deloitte maintained that the reforms are creating the conditions for a more resilient, competitive, and diversified economy.
Kale urged the Federal Government to complement its reform agenda with stronger social safety nets, increased support for small and medium-sized enterprises, and targeted investments that will enhance productivity and job creation.
He also emphasised the need for policy consistency, institutional reforms, and greater transparency to sustain investor confidence and attract long-term capital into the country.
Since assuming office in 2023, President Tinubu has pursued sweeping economic reforms aimed at restoring fiscal stability, boosting government revenues, and repositioning Nigeria for long-term growth. While institutions such as the International Monetary Fund (IMF) and the World Bank have acknowledged progress in the reform programme, they have also advised the government to strengthen measures that cushion vulnerable Nigerians from the effects of higher living costs.
