Oye to Tinubu: Turn $53.11bn FX reserves, 4.43% growth into cheaper food, more jobs
Chairman, Alliance for Economic Research and Ethics LTD/GTE, Dele Oye, has urged President Bola Tinubu’s administration to turn recent economic gains into lower food prices, more productive jobs and better living standards for Nigerians.
Oye said the government deserved credit for taking difficult economic decisions over the past three years, including the removal of petrol subsidy, foreign exchange reforms, the end of monetary financing of fiscal deficits, rebuilding of external reserves and tighter monetary policy.
However, he said macroeconomic stability was only the beginning, stressing that the success of the reforms should ultimately be judged by their impact on ordinary Nigerians.
In a statement titled, “The Economy Is Stabilising. Now Let the People Feel It,” Oye said Nigeria’s recent economic figures showed signs of improvement. He cited foreign exchange reserves, which reached a 17-year high of $53.11 billion as of August 24, 2026, as evidence of stronger external buffers.
He also pointed to the National Bureau of Statistics’ report that Nigeria’s economy grew by 4.43 per cent year-on-year in the second quarter of 2026, up from 3.89 per cent in the previous quarter, with both the oil and non-oil sectors recording stronger growth.