President Bola Tinubu on Thursday declared that his administration’s economic reforms are delivering positive outcomes. Speaking at the All Progressives Congress (APC) National Summit held at the State House banquet hall in Abuja, Tinubu affirmed that the ruling party has not failed. “Two years ago, we embarked on this journey, propelled by a bus of hope and abiding faith in Nigeria. Together, we pledged to confront Nigeria’s challenges head-on by rebuilding the trust, fostering prosperity. “Today, I am proud to affirm that our economic reforms are working. There’s nothing good that comes easily. The subsidy is gone and was gone for the good of this country,” he said. After assuming office in May 2023, President Tinubu launched an ambitious economic reform agenda, which both his administration and international financial institutions deemed essential to stabilise the finances of Africa’s most populous nation. However, these reforms—such as the removal of fuel subsidies and the liberalisation of the struggling naira—have taken a toll on everyday Nigerians, many of whom are enduring the worst cost-of-living crisis in decades. According to the World Bank, years of persistent inflation and weak economic growth have worsened poverty and hardship, with nearly half of the population living in poverty by 2024. The International Monetary Fund (IMF) noted last month that, so far, the government’s stringent reforms have yet to translate into tangible benefits for the average citizen.