…Infrastructure gains slowed by financing gaps, bureaucratic delays
By Obasola Olatunde
As Nigeria prepares to celebrate 65 years of independence tomorrow, President Bola Ahmed Tinubu’s two years in office present a striking picture of ambition and strain. His sweeping economic reforms are praised by experts as bold, yet condemned by workers and citizens who insist the policies have left them poorer and increasingly disillusioned.
Since taking office in May 2023, Tinubu has pursued reforms intended to stabilise Africa’s largest economy. Fuel subsidy removal, exchange rate unification and renewed efforts in infrastructure development have defined his early tenure. While his administration maintains that these decisions are laying a foundation for growth, reactions from across society reveal a more tangled balance of progress and hardship.
Dr Muda Yusuf, Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), offered one of the clearest assessments, describing Tinubu’s presidency as “a reformist regime that has taken painful but necessary steps to reset the economy.”
For Yusuf, the removal of fuel subsidies and the merging of exchange rates were unavoidable given Nigeria’s fiscal circumstances. “These policies have opened up fiscal space and reduced distortions in the economy,” he explained. “However, the challenge lies in the weak social cushioning. Inflation has spiked, households are groaning, and many small businesses are struggling to stay afloat.”
He observed that the reforms could deliver long term benefits if government strengthens safety nets more rapidly, such as mass transit schemes, food security measures, and targeted support for MSMEs. “Reforms without effective cushioning will be socially and politically unsustainable,” he cautioned.
Labour unions, however, remain unconvinced. The Nigeria Labour Congress (NLC) contends that the administration has failed to protect workers and the poor from the harshest effects. “Policies that are meant to save the economy should not impoverish citizens in the process,” an NLC statement declared.
In the infrastructure sector, the government has commissioned major road and rail projects while seeking to deepen public–private partnerships. Engineer Chidi Izuwah, a former head of the Infrastructure Concession Regulatory Commission, acknowledged visible progress in transport corridors and power projects, but added that “financing bottlenecks and bureaucratic delays still threaten delivery timelines.”
Civil society leaders echo similar concerns. Auwal Musa Rafsanjani of Transparency International (Nigeria) said Tinubu’s government has made commitments to anti-corruption and institutional reforms, but stressed that “implementation remains the real test.”
Policy analyst Jide Ojo described the administration as “reformist but struggling with communication,” suggesting that stronger engagement with stakeholders could ease public resistance.
As Nigeria turns 65, a common thread runs through expert and civil society opinion: Tinubu’s presidency is defined by tough choices and structural reforms whose outcomes are yet to be fully seen. Whether these choices bring lasting prosperity or deepen public discontent will hinge on how the next phase of implementation is managed.