Tinubu Says Nigeria Making ‘Serious Foundational Progress’
President Bola Tinubu says Nigeria is making “serious foundational progress” as his administration’s economic reforms take hold, arguing that the tough choices on fiscal, revenue, and tax policies are stabilizing the economy and laying the groundwork for sustained growth.
The President made the remarks while receiving a delegation from Deloitte Africa at the State House in Abuja, led by its Chief Executive Officer, Ruwayda Redfearn. He praised the firm’s global reputation and training culture, drawing on his early career in accountancy to underscore the value of strong institutional foundations and professional capacity-building.
Tinubu defended the reform program as necessary and ultimately beneficial, even if challenging in the short term. He described the policies as “bitter medicine” designed to correct structural weaknesses, stimulate growth, and improve Nigeria’s competitiveness. According to him, the measures have started to strengthen fiscal and revenue systems, reposition financial institutions, and create a more resilient economic environment.
Emphasizing human capital as central to the country’s long-term success, the President encouraged Deloitte to expand its footprint in youth training and employment. He highlighted Nigeria’s large, dynamic young population as a key asset and urged deeper private-sector engagement to unlock opportunities, improve skills, and accelerate job creation.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, also urged Deloitte to prioritize capacity building for Nigerian youths as part of its collaboration with the government, noting that technical expertise and practical training are vital for translating macroeconomic reforms into widespread, inclusive benefits.
Ruwayda Redfearn commended the administration’s commitment to economic transformation and reaffirmed Deloitte’s readiness to support Nigeria’s priorities. She noted the firm’s global scale—reporting $74 billion in revenue in 2025 and employing more than half a million people worldwide, including thousands across Africa—as a resource that can be mobilized to assist government and private-sector partners. Redfearn pledged support for investment facilitation, youth development, and job creation initiatives.
Yomi Olugbenro, a senior Deloitte Africa executive, said the firm’s goal is to help ensure that the impact of ongoing reforms reaches everyday Nigerians. He stressed the importance of “cascading” large policy changes into tangible outcomes—better services, stronger enterprises, and more jobs—while leveraging Deloitte’s global experience supporting reform programs in other countries.
Throughout the meeting, both sides pointed to the need for sustained collaboration. The government framed reforms as the foundation for a more productive economy, while Deloitte signaled its intent to bring advisory expertise, training, and implementation support to help translate policy into measurable results. The shared focus on skills, institutional strengthening, and youth employment underlined a common agenda: building a more competitive, inclusive Nigerian economy that can convert near-term adjustments into long-term prosperity.
