By Samson O. Oderinde
On 29th May 2023, the administration of President Bola Ahmed Tinubu, GCFR inherited an economy and a nation gasping for breath. The urgency of the moment demanded immediate and bold action, hence the far-reaching reforms that followed and their consequential outcomes.
Anchored on the Federal Government’s “Reform Scorecard: Benefits, Costs and Harms Prevented” and the 2026 Democracy Day briefings (May 2023 – May 2026), the ensuing analysis seeks to objectively evaluate the administration’s stewardship. It highlights achievements, interrogates the trade-offs, and provides contextual commentary.
NIGERIA’S PERFORMANCE SCORECARD
REFORMS EMBARKED BENEFITS DELIVERED COSTS & PAINS AVERTED
1.Fiscal &Subsidy Removal N15.8 Trillion income generated.
From this:
Fed.Gov. earned: N5.4
Trillion Incremental rev: N3.1Trillion
State combined earning: #22.3 Trillion.
Higher FAAC to states.
States can now pay Salaries & carryout dev. Activities easily.
Ended Fuel Subsidy Fraud & boosted Fed. Revenue.
Paid Wage Awards;
Increased Minimum Wage implementation
Ogun state funded Gateway projects with higher allocation.
Reduced corrupt practices substantially.
Fiscal Collapse
State Unable to pay Salaries.
Continuous subsidy fraud
2.Foreign Exchange Reform. FX gap narrowed to about 5%
Reserves increased to $42B
The Federal Gov. ended arbitrage, attracted $50B FDI commitments
In Ogun State:
$1B + Investment through Ogun Invest,
Manufacturers in Agbara/Sagamu stabilised. FX scarcity and round tripping.
Manufacturers shutting down.
Capital flight.
3.Tax & Revenue Reform Tax to-GDP moved-up to 13.5%
0% VAT on food, health & Education
Nigeria Tax Act 2025 passed
Tax exemption for low-income earners &small businesses.
Ogun State: IGR hit #246B in 2024
OGIRS digitization.
MSME tax relief in Lafenwa / Sango Unsustainable 97% debt service ratio.
Over reliance on Oil revenue.IGR Collapse
4.Infrastructure 440 Federal road projects.
. Renewed Hope Housing.
. Lagos-Calabar Expressway
. Sokoto-Badagry Expressway.
Ogun State: Old Lagos-Abeokuta Expressway Rehabilitation
Kobape Renewed Hope Estate.
Agro-Cargo Airport
SMB Duplexes & co. . Total decay of Economic corridors.
Worsening housing deficit.
. Trade gridlock
Lagos-Ogun.
5.Social Welfare . 9.2 M on Hope – CT Cash Transfer
. NELFUND #95,6B for Students
. Minimum Wage: 3ok-70k.
. Students Loan Scheme
. Pension arrears settled & Allowance now paid promptly.
Ogun State:
. 60,000 Vulnerable household on Cash transfer.
. Ogun Students top NELFUND beneficiaries.
. 3 MTT tech. Training in Abeokuta/Sagamu.
. Mass students drop-outs.
. Widespread hunger without safety nets.
. Eroded purchasing power.
6.Health . 1000 PHCs revitalized.
. 3 new Cancer Centers operated.
. FG National PHC Upgraded programme.
Ogun State: .PHCs upgraded under Ogun Health Insurance Scheme.
. New Maternal Centers in Ijebu – Ode/Sagamu
Collapse of primary Healthcare.
No access to PHC
in rural communities.
7.Security .Security budget.
. Increased from #2.98t to #4.9t.
.50,000 Police recruited.
.13,000 Terrorists nuetralised.
. Increased Funding & Equipment.
Ogun State:
. Amotekun & Police units Operations.
. Reduced kidnappings in Lagos-Ibadan & Sagamu-Benin Expressways.
. OP-MESA support in Idiroko.
. Breakdown of Law & Order.
. Terrorists’ territorial expansion.
. Border areas being unsafe.
1. Efficacy of the steps taken: The reforms have produced measurable results in revenue, investment, and service delivery, proving that the tough decisions were necessary and effective.
2. Appropriateness of feedback: Government has listened and responded with wage awards, cash transfers, student loans, and targeted tax relief to cushion the pains.
3. Accountability: With higher FAAC, digitized revenue systems, and published project data, citizens can now track how public funds are used.
4. Right to information: The electorate deserves to be informed and kept abreast of the situation in the country, since they are part of the government.
5. Continuity & Growth: These foundations must be sustained to ensure steady growth, stability, and long-term prosperity for Nigeria.
In sum, the data from the Reform Scorecard indicate that while the reforms have imposed significant short-term costs, they have also averted a deeper economic collapse and created fiscal space for investment in critical infrastructure and social programmes.
The evidence points to gains in revenue generation, external reserves, and investor confidence. Government’s feedback mechanisms are visible in targeted interventions, while accountability is being reinforced through improved transparency in revenue and project tracking.
What is now required is consolidation. To translate the foundation that has been laid into prosperity, improved well-being and life abundance for all Nigerians, citizens are enjoined to sustain their support and vote massively for President Bola Ahmed Tinubu, GCFR, as well as the APC Governorship candidates and legislators at all levels.
Samson O. Oderonde, JP is former Executive Chairman, Yewa North LG & Former SSA to Dep. Gov. in Ogun State, Writes in from Igbogila-Yewa.
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