The Federal Government has assured Nigerians that the benefits of ongoing economic reforms will soon become more evident in their daily lives, citing improvements in inflation, foreign reserves, investment and economic growth.
Special Adviser to the President on Economic Affairs, Dr. Tope Fasua, gave the assurance during an interview with the News Agency of Nigeria (NAN) on the sidelines of the International Monetary Fund (IMF) and World Bank Annual Meetings in Thailand.
Fasua acknowledged that many Nigerians were yet to experience meaningful relief despite improvements in the country’s economic indicators. He, however, maintained that the government’s reforms were beginning to produce results that would eventually translate into better living conditions.
According to him, Nigeria’s inflation rate declined to approximately 14.63 per cent in September 2026, with expectations of a further reduction towards 10 per cent in the coming months, barring unforeseen developments.
He also identified improvements in foreign reserves, easing interest rates and economic growth as encouraging signs, noting that Nigeria’s economic performance had attracted renewed interest from international investors.
Fasua disclosed that Nigeria’s investment engagements in Thailand featured 65 transactions and attracted private capital commitments exceeding $6 billion.
Addressing concerns about the continued hardship faced by households, the presidential aide explained that improvements in the wider economy were necessary to achieve sustainable progress in citizens’ living standards.
He likened the reform process to constructing a building, stressing that a stable economic foundation must first be established before its benefits can be fully realised by ordinary Nigerians.
Fasua further stated that President Bola Tinubu had indicated that the period of economic sacrifice was approaching its end, with the administration now concentrating on consolidating the gains recorded so far.
He nevertheless acknowledged that rising fuel prices continued to place considerable pressure on households and businesses, despite encouraging developments in sectors such as real estate, oil and gas, entertainment and electronic commerce.
On measures to cushion economic hardship, Fasua disclosed that the Federal Government was developing a social protection package targeted at vulnerable Nigerians, particularly elderly persons, children and individuals unable to support themselves.
He explained that the government was working on a system to identify eligible beneficiaries and ensure that assistance reached those who genuinely needed it, including through direct financial support where necessary.
The presidential aide also reaffirmed the government’s commitment to sustaining its economic policies, insisting that reversing the reforms at this stage could undermine the progress already recorded.
He said the administration was targeting an increase in economic growth from 4.43 per cent to six per cent, with the possibility of reaching seven per cent in subsequent years.
While expressing optimism about the country’s economic outlook, Fasua acknowledged the need for the government to ensure that improvements in national economic indicators translate into tangible benefits for Nigerians.
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