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Cardoso says Tinubu’s Tough Reforms Are Showing Positive Results For Nigeria
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, says the economic reforms introduced by President Bola Tinubu’s administration in the past eighteen months are tough but already yielding positive results.
Cardoso made this known in excerpts released after the 2025 IMF and World Bank Spring Meetings in Washington D.C. He said Nigeria’s delegation attended the meetings to showcase the economic steps taken under Tinubu’s leadership.
According to him, the country has strengthened its monetary buffers and is now in a better position to withstand external shocks. He assured Nigerians that although the reforms are not easy, they are pushing the economy from a place of weakness toward one of growing strength.
Since 2023, Tinubu’s government has rolled out major reforms like liberalising the foreign exchange market and removing fuel subsidies. Under Cardoso’s leadership, new measures like the FX code, the Electronic Foreign Exchange System (EFEMS), and the recapitalisation of the financial system were also introduced.
Meanwhile, Nigeria’s inflation dropped to 23.18 percent in March 2025, while the interest rate stood at 27.50 percent in February, even as the cost of living remained high.
Nigerian news analyst, Mahmud Jega, has shared his opinion on the recent airstrike carried out by the United States in Nigeria, stating that Nigerians should not blame President Bola Tinubu for the incident.
Jega made this statement during a recent interview, where he said he does not believe many people will hold the Tinubu administration responsible, as Donald Trump had issued threats against Nigeria long before Tinubu’s administration.
“No, I don’t think many people will blame the Tinubu administration for what is happening now because President Donald Trump, when he first made the threats, it was clearly not in coordination with the Tinubu administration or the government of Nigeria,” Jega said.
It has been reported that the United States carried out an airstrike targeting ISIS in the northwest region of Nigeria. The order was reportedly given by former U.S. President Donald Trump.
“Tonight, at my direction as Commander in Chief, the United States launched a powerful and deadly strike against ISIS terrorist elements in northwest Nigeria,” Trump said.
He added, “I have previously warned these terrorists that if they did not stop the slaughtering of Christians, there would be hell to pay, and tonight, there was.”
The Federal Government of Nigeria has officially declared the holiday dates for the festive season.
Thursday, December 25 will be observed as Christmas Day, December 26 as Boxing Day, and Thursday, January 1 as New Year’s Day.
The declaration was made by the Permanent Secretary of the Ministry of Interior, Dr. Magdalene Ajani. He also added that Nigerians should celebrate the holidays in faith and pray for the nation.
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