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Economic Reforms Yielding Consistent Growth – Tinubu
President Bola Tinubu on Wednesday said Nigeria’s economy was making significant foundational progress despite the challenges associated with the reforms his administration has implemented over the past three years.
The President also received commendation from the leadership of Deloitte Africa for the financial and fiscal reforms undertaken by his administration over the period.
The Special Adviser to the President on Information and Strategy, Bayo Onanuga, disclosed this in a statement issued on Wednesday titled, “Our Economy Is On Steady Growth, Says President Tinubu To Deloitte Africa.”
Tinubu made the remarks while receiving a delegation from Deloitte Africa, led by its Chief Executive Officer for Africa, Ruwayda Redfearn, at the State House, Abuja.
The meeting was attended by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, and the Chairman of the Nigeria Revenue Service, Zacch Adedeji.
The President defended the pace and direction of the reforms while acknowledging the challenges associated with them. He said, “Yes, reforms are difficult. It has not been a McDonald’s customer relationship but a harvester of good things, if implemented well, and that is what we are about.
“The reforms on revenue will continue to stimulate growth. And the effect of the reform? Yes, some issues are difficult, taking the bitter medicine, but it is working well. For the economy, Nigeria is making serious foundational progress.”
Tinubu said the reforms had stimulated economic growth, strengthened the fiscal and revenue systems, repositioned financial institutions and prepared Nigeria to become more globally relevant and competitive.
He also reflected on his professional background, describing his early years in accountancy as being connected to the Deloitte tradition. “The family of Deloitte, you just reminded me of my cradle years in accountancy and where I cut my childhood accounting teeth in Chicago. Deloitte has a good training programme, and I believe you will continue to reflect that,” he said.
The President urged the firm to deepen its impact in Nigeria by expanding training and recruitment opportunities for the country’s large youth population, describing the move as an investment in the human capital needed to sustain Nigeria’s long-term competitiveness.
Redfearn said the firm, which employs more than 500,000 people globally, including over 6,000 across Africa, and recorded revenue of $74bn in 2025, was ready to deploy its expertise in support of the administration.
“We are before you to say that we want to serve. We have a local team on the ground that is ready, as well as the global firm, to support you and support your administration as you lead the country,” she said.
The Chief Executive Officer of Deloitte West Africa, Yomi Olugbenro, said the firm believed the groundwork laid by the administration’s reforms was solid, but stressed that the priority should now be translating those gains into tangible benefits for ordinary Nigerians.
“We do what we do because of the philosophy that our African CEOs talk about, making an impact that matters. Where we are at the moment, we believe that the ground has been solidly laid. There is a need to truly extract more value and deliver the dividends of democracy to ordinary Nigerians on the street.
“The bigger work is really about how to cascade some of those big reforms further down,” he said.
Olugbenro assured the President of the firm’s readiness to draw on its global experience in supporting national economic transformation. He said, “We have use cases, examples, and experiences of how we supported nations all around the world, so Nigeria will definitely benefit from those experiences.
“That is why we are here, and we welcome the invitation as to where exactly you want us to support you.”
Oyedele, who spoke on the administration’s reform record and its macroeconomic impact, echoed the President’s call by urging Deloitte’s leadership to prioritise youth capacity building as one of the most impactful investments the firm could make in Nigeria’s future.
