Nigeria’s Economic Reforms Target Growth Expansion Amid Social Protection Focus

Tope Fasua, the president’s special adviser on economic affairs from the Vice President’s Office, stated during an interview at the IMF/World Bank Annual Meetings in Thailand that the government remains committed to maintaining economic reforms while implementing social protection measures to alleviate hardship for vulnerable populations.

Fasua compared economic reforms to laying a solid foundation for a building, emphasizing that sustainable household welfare improvements depend on a stable macroeconomic environment.

He also stressed the necessity of balancing domestic and foreign investment to expand economic activities and enhance living standards, adding that the government is mindful of fulfilling promises to citizens as the election year approaches. President Bola Tinubu has signaled that the period of economic sacrifice is ending, with the focus shifting to consolidating reform gains.