Bola Ahmed Tinubu promised to fix Nigeria’s broken economic system and restore a sense of security. Now, as we attain the halfway point of his time-frame, millions of Nigerians are weighing those guarantees against a unique fact one marked by rising costs, protection shocks, and an unsure future.
Here’s a comparative overview of Nigeria’s key economic indicators from 2023 to 2025 below President Bola Tinubu’s administration, displaying the impacts of main reforms akin to gas subsidy removal and naira devaluation.
Key Economic Indicators: 2023 vs. 2025
| Indicator | 2023 | 2025 (Projected) |
| Precise GDP Enhance | 2.9% | 4.17% |
| Inflation Price | 24.5% | 23.71% (April 2025) |
| Switch Price (₦/USD) | ₦671 (Dec 2023) | ₦1,555 (Jan 2025) |
| Fiscal Deficit (% GDP) | 5.1% | 3.0% |
| Oil Manufacturing (bpd) | ~1.5 million | Projected 2.3 million |
| Unemployment Price | 33.3% | 22.6% (Q1 2025 est.) |
Analysis
Economic Enhance:
Nigeria’s GDP growth slowed to 2.9% in 2023 due to excessive inflation and world economic challenges. Nonetheless, projections for 2025 expose a rebound to 4.17%, driven by ongoing reforms and elevated investment.
Inflation:
Inflation surged to 24.5% in 2023, basically due to gas subsidy removal and naira devaluation. By April 2025, it a minute diminished to 23.71%, reflecting boring stabilization
Switch Price:
The naira depreciated from ₦671/USD in December 2023 to ₦1,555/USD by January 2025, following the unification of commerce charges and market liberalization.
Fiscal Deficit:
The fiscal deficit narrowed from 5.1% of GDP in 2023 to 3.0% in 2024, attributed to subsidy removals and improved earnings collection.
Oil Manufacturing:
Oil output elevated from approximately 1.5 million barrels per day in 2023 to a projected 2.3 million by mid-2025, due to enhanced security and infrastructure.
Unemployment:
The unemployment rate became once 33.3% in 2023. Estimates for Q1 2025 counsel a lower to 22.6%, indicating doubtless improvements in job introduction.
Between 2023 and 2025, Nigeria’s economic system experienced reforms leading to transient challenges indulge in excessive inflation and foreign money depreciation. Nonetheless, these measures agree with build the stage for doubtless economic stabilization and growth, with improvements in GDP growth, fiscal balance, and employment indicators projected for 2025.
