Tinubu Courts Investors, Highlights Reform Gains in France

President Bola Tinubu met with global investors in France on Tuesday, seeking to attract capital and highlight Nigeria’s ongoing reforms.

Tinubu said his administration’s program aims to remove distortions and stabilise macroeconomic indicators.

“Subsidy that was a burden to the entire country was removed, and ever since we have achieved foreign exchange stability,” he told investors.

He stressed commitments to transparency in the oil sector, decentralised policing, and disrupting terrorist financing, adding that policy stability and execution remain the government’s focus.

Nigeria’s reforms, including subsidy removal and relaxed currency controls, initially triggered inflation and a severe cost-of-living crisis.

But the naira has since stabilised, and inflation slowed from over 30% to about 15% in March 2026.

Finance Minister Taiwo Oyedele ruled out a return to subsidies or price controls.

“We will not bring back subsidies because they create distortions… We believe in markets while ensuring regulation is responsible,” Oyedele said.

He highlighted Nigeria’s 11.2% GDP growth in dollar terms in 2025, reinforcing ambitions for a $1 trillion economy. He pledged quarterly financial disclosures to boost transparency.

Debt Management Office chief Patience Oniha assured investors of responsible debt management.

The meeting included representatives from Citibank, Amundi, BlueCrest, Ninety One, PGIM, Mesarete Capital, and others, many of whom praised Nigeria’s reforms.

Asked about his post-2027 agenda, Tinubu promised to strengthen fiscal discipline, transparency, and policy consistency, underscoring his long-term reform vision.