An economic expert and former International Monetary Fund (IMF) and World Bank official, Dr. Ifediora Amobi, has commended the economic reforms of the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, describing the government’s policy direction as important to Nigeria’s fiscal sustainability.
Amobi’s endorsement comes amid ongoing debates over the impact of the Federal Government’s economic reforms, particularly petrol subsidy removal, foreign exchange market liberalisation and changes to the tax system.
Oyedele, who previously chaired the Presidential Fiscal Policy and Tax Reforms Committee, has been at the forefront of efforts to improve revenue generation, strengthen tax administration and establish a more sustainable fiscal framework.
Figures presented by the minister indicated that ?15.8 trillion accrued to the Federation Account as subsidy-removal proceeds between June 2023 and December 2025. The Federal Government received ?5.4 trillion, while state and local governments received ?10.4 trillion.
The government has maintained that the reforms are intended to reduce fiscal pressures, improve public revenue and create room for investment in infrastructure and essential services.
However, the policies have also attracted criticism over rising living costs, inflation and the pressure on households and businesses.
Amobi urged the government to sustain the reform process while ensuring that the gains translate into improved living conditions for Nigerians.
He stressed the need for accountability in the management of public revenue, improved public services and targeted interventions to protect vulnerable households from the effects of economic adjustment.
The economist also emphasised the importance of policy consistency, stronger investment and an enabling business environment in achieving sustainable economic growth.
Oyedele has similarly argued that the next phase of Nigeria’s economic reforms should focus on translating macroeconomic improvements into stronger growth, increased private investment and better living standards.
For the government, the challenge remains ensuring that improved public finances and increased revenue translate into tangible benefits for citizens.