Tinubu Administration Records 21 Economic Gains, Reno Omokri Says in New Performance Assessment

A former presidential aide, Reno Omokri, has outlined 21 economic indicators which he says show material progress under President Bola Tinubu’s administration, citing improvements across reserves, production output, capital markets, infrastructure delivery, and macroeconomic stability. The remarks, shared on his official X account on Tuesday, were reported by The Guardian and mark a continued shift from Omokri’s previously critical stance toward the current government.

Stronger External Position and Output Growth

Omokri stated that Nigeria’s foreign reserves have strengthened significantly, surpassing the $45 billion threshold for the first time in six years. He argued that this reserve build-up has reinforced the country’s external buffers and contributed to more stable macroeconomic conditions.

According to his assessment, Nigeria’s economy delivered 3.93% growth in the most recent quarter, following 4.23% growth in Q2 2025 momentum he attributes to improved fiscal and monetary coordination.

Energy and Oil Sector Improvements

The former aide highlighted what he described as material progress in the energy sector. He noted that Nigeria, historically one of Africa’s largest importers of refined fuel, has within two years transitioned into a net exporter within West Africa.

He added that crude production has exceeded the country’s OPEC quota for three consecutive months, averaging 1.71 million barrels per day, a performance he said Nigeria has not achieved in over a decade.

Omokri also referenced a significant decline in oil theft, stating that losses have fallen to below 10,000 barrels per day, the lowest in sixteen years.

Fiscal Performance and Revenue Growth

According to Omokri, federal revenue collection has surpassed historical benchmarks. Nigeria reportedly met its full-year revenue target by August, marking the first time such an outcome has been recorded.

He added that non-oil tax revenue reached ₦20.59 trillion between January and August 2025, compared with ₦14.6 trillion in the corresponding period of 2024 a 40.5% increase.

Financial Markets and Currency Stability

Nigeria’s equities market has continued to expand, with the All-Share Index crossing the 130,000-point mark for the first time. Omokri highlighted MTN Nigeria’s valuation climb to ₦10 trillion, the first time a local company has reached that milestone.

On currency stability, he noted that the naira has remained below ₦1,500/$, a trend ratings agencies have described as one of the most improved currency performances globally this year.

He added that the Central Bank of Nigeria has cut the benchmark lending rate by 50 basis points to 27%, its first rate reduction since the pandemic.

Inflation, Fuel Prices, and Consumer Relief

Omokri stated that headline inflation has eased to 16.05%, down from 20.12% in August 2025, driven in part by a decline in food prices and improved supply conditions.

He referenced reductions in pump prices by selected private refiners and marketers, with retail prices reportedly falling below ₦1,000/litre, contributing to relative consumer relief.

Infrastructure Expansion and Transport Growth

The administration’s transport infrastructure programme featured prominently in Omokri’s assessment. He said rail transport volume grew by 43.08% in Q2 2025, while road transport expanded by 24.50%, supported by ongoing major projects such as:

• The ₦13 trillion Illela–Sokoto–Badagry Superhighway, and

• The ₦15 trillion Lagos–Calabar Coastal Highway.

He argued that these large-scale investments are beginning to support economic integration and improve internal trade flows.

Trade Performance and Global Ratings

According to Omokri, Nigeria’s trade surplus rose by 44.3% in Q2 2025, reaching ₦7.46 trillion, compared with ₦5.17 trillion in the previous quarter.

He added that global ratings agencies Fitch and S&P Global have revised Nigeria’s outlook to Stable, reflecting what they described as progress in macroeconomic reforms and improved revenue mobilisation.

Expert Endorsements

Omokri referenced public statements from leading economists, including Dr Ngozi Okonjo-Iweala and Dr Chukwuma Soludo, who he said have acknowledged improvements in economic coordination and stabilisation efforts under the Tinubu administration.

Broader Economic Context

While Omokri’s assessment highlights tangible improvements in several sectors, analysts note that economic recovery remains uneven, with pressure points still visible in consumer spending, SME liquidity, and labour market conditions. Structural bottlenecks in electricity distribution, logistics, and production capacity continue to influence the pace of growth.

Conclusion

Omokri’s latest remarks reflect a notable shift in his evaluation of the administration, emphasising data points that he says demonstrate progress in stabilising the economy and restoring market confidence. As Nigeria continues to implement reforms across monetary policy, fiscal discipline, and infrastructure expansion, investors and policymakers will be watching for sustained improvements in living standards, productivity, and long-term competitiveness.