By Olawale Lamina
The Social Advocacy Forum, SAF, has described the ongoing reforms of the President Bola Tinubu’s administration as a foundation for long-term prosperity for Nigeria.
In a statement signed by its Chairman, Tahir Ibrahim Tahir and the Secretary, Shehu Atta, SAF argued that the reforms were paving the way for a more productivity-based economy.
SAF noted that since assuming office, President Bola Tinubu has advanced what he termed the Renewed Hope agenda—an ambitious reform programme designed to reposition Nigeria’s economy for long-term stability, inclusive growth, and the attainment of a $1 trillion economy by 2030.
The group also emphasized that, “Anchored on a whole-of-society approach, the administration has mobilised federal, state, and local governments—alongside private sector and citizen participation—to reset the macroeconomic fundamentals and lay the groundwork for sustainable development.
“We acknowledge that the deregulation of the oil & gas sector is the cornerstone of the reforms especially as it put an end to a subsidy regime that has for decades cost Nigeria trillions of naira annually, encouraged inefficiency, fuelled rent-seeking, and distorted fiscal planning.
“Though the initial impact saw a sharp rise in PMS prices, transportation costs, and inflationary pressures, the long-term structural gains are gradually becoming evident.
“The dismantling of the subsidy architecture eliminated entrenched corruption networks and freed substantial public revenues for capital expenditure, infrastructure development, and statutory allocations to the three tiers of government.
“Recent data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) indicate that within nine months of 2025 alone, Nigeria saved approximately ₦6 trillion previously lost to fuel importation inefficiencies.
“The downstream sector is gradually transitioning from a fiscal drain to a contributor to foreign exchange conservation and domestic value creation.”
SAF also noted that in spite of the initial hardships faced by the people, the reforms are now yielding visible benefits.
“While the reforms required difficult and politically sensitive decisions, they represent a deliberate shift from consumption-driven economics to productivity-led growth.
“By removing distortions, stabilising the macroeconomic framework, improving fiscal transparency, and prioritising infrastructure and domestic production, President Tinubu’s administration is laying the structural foundation for sustainable development.
“We further highlight the gains of these policy reforms as: improved reserves, higher subnational revenues, energy diversification, downstream sector competitiveness, and enhanced fiscal coordination—suggest that Nigeria is gradually transitioning from an era of systemic leakages to one of disciplined economic stewardship.
“We have seen enough to conclude that the Renewed Hope reforms are not merely policy adjustments; they are structural recalibrations aimed at securing long-term prosperity, institutional integrity, and economic resilience for future generations of Nigerians.
“We acknowledged that a major outcome of the reforms has been the enhanced revenue flows to states and local governments. With subsidy savings and improved revenue mobilisation—including efforts to curb oil theft and broaden the tax base—federation allocations have significantly increased.
“This fiscal strengthening has reinforced subnational autonomy, enabling governors and local councils to execute infrastructure, healthcare, education, and grassroots development projects with greater financial independence and accountability.
“Also, the Renewed Hope agenda places infrastructure at the centre of economic transformation with investments across transportation corridors, power generation, digital connectivity, housing, and irrigation being prioritised as catalysts for productivity and inclusive growth,” the group stressed
SAF also outlined how the reforms revitalised the federal government’s social investment schemes, noting that, “Recognising the short-term hardship induced by structural reforms, the administration has revitalised social investment programmes through the Federal Ministry of Humanitarian Affairs.
“Updated social registers and targeted interventions are supporting vulnerable households, youth entrepreneurs, women-led enterprises, and small businesses.
“These measures are designed not merely as palliatives but as strategic human capital investments—ensuring that macroeconomic stabilisation translates into tangible socio-economic empowerment.”
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