Fiscal discipline restored. The fiscal deficit has fallen from 5.4% of GDP in 2023 to 3.0% in 2024. Ways and Means deficit financing — a primary driver of inflation — has been discontinued. Debt service, which once consumed nearly 100% of government revenue, now stands below 40%, freeing resources for public investment.

Foreign reserves strengthened. Reserves have risen from $32 billion to over $49 billion — a 53% increase. The gap between official and parallel exchange rates, once above 30%, has been compressed to less than 2%. Over $10 billion in foreign exchange backlogs owed to businesses have been cleared.

Inflation declining. Headline inflation has fallen for eight consecutive months, from a peak above 34% to 15.15% by December 2025. Food inflation has come down from over 40% to 10.84%.

Tax reform enacted. Legislation signed in June 2025 consolidates over 60 taxes into fewer than 10. Nigerians earning ₦800,000 or less per year pay zero income tax. Small businesses under ₦50 million in turnover are exempt from company tax. Employers receive a 50% deduction for new hires and for raising wages, structured incentives for job creation and growth.

Revenue growing. Government revenue has more than doubled. FAAC allocations to states have grown by 60%, putting more resources into local roads, healthcare, and education.