Oye Urges Tinubu to Turn $53.11bn Reserves Into Cheaper Food, More Jobs
Oye urges FG to turn economic gains into household benefits
Dele Oye, Chairman of Alliance for Economic Research and Ethics Ltd/GTE, has urged President Bola Tinubu’s administration to translate Nigeria’s recent economic gains into lower food prices, more productive jobs and improved living standards.
Oye acknowledged the government’s economic reforms, including petrol subsidy removal, foreign exchange reforms, tighter monetary policy and efforts to rebuild the country’s external reserves. However, he argued that macroeconomic stability should ultimately be measured by its impact on households and businesses.
According to The Sun, Oye made the remarks in a statement titled “The Economy Is Stabilising. Now Let the People Feel It.”
Nigeria’s External Reserves Reach $53.11bn
Oye pointed to Nigeria’s foreign exchange reserves as one of the indicators of improving economic stability.
The country’s external reserves reached $53.11 billion as of August 24, 2026, representing a 17-year high, according to figures cited in the report.
The stronger reserve position provides a larger external buffer for the economy and could support greater confidence in Nigeria’s foreign exchange market.
However, Oye argued that stronger macroeconomic indicators should not remain limited to financial and monetary statistics.
He said the benefits should become visible through improved purchasing power, stronger employment opportunities and better living conditions.