By Reno Omokri
There are hardly any economic indices in Nigeria today that have not improved since President Tinubu assumed office on Monday, May 29, 2023. Below, I have listed ten, just in case you are misled by disgruntled politicians into thinking you are worse off today than you were in 2023.
All Shares Index: On May 29, 2023, the All Shares Index of the Nigerian Stock Exchange was 55,769.28 points, while the market capitalisation was ₦28.845 trillion. However, on Thursday, July 24, 2025, the Nigerian Stock Exchange rose above the 130,000 All-Share Index for the first time ever, with a total market capitalisation of ₦84.262 trillion.
Corruption: In 2023, Nigeria ranked 145 out of 180 countries in the annual Corruption Perception Index published by Transparency International, meaning we outranked only 35 countries. In the 2025 ranking, we are placed 140 out of 180 nations, a remarkable improvement.
Foreign Reserves: On May 29, 2023, our foreign reserves were $33.23 billion (although JP Morgan later claimed that the previous administration actually left Nigeria with a net reserve of $3.7 billion, rather than $33 billion). But today, our foreign reserves stand at $46.7 billion.
Gross Domestic Product: Our economy expanded by $67 billion in just two years, moving Nigeria’s GDP from a ₦269.29 trillion economy on May 29, 2023, when Asiwaju became President, to ₦372.8 trillion today.
Inflation Rate: On May 29, 2023, Nigeria’s headline inflation rate was 22.41%. Today, our inflation rate is 16.05%.
Life Expectancy: Nigeria’s life expectancy in 2023 was 54.5 years, according to Macrotrends. However, today it has risen to 56.36, a 2.92% increase from 2023, indicating that the reforms of the Tinubu administration are delivering real-life results.
Oil Production: On Monday, May 29, 2023, Nigeria’s average daily crude oil production was estimated at 1.18 million barrels per day (BPD). Today, under President Tinubu, and for the first time in over a decade, Nigeria has overshot its OPEC quota for three consecutive months and is set to do so for a fourth, producing an average of 1.71 million barrels per day.
Passport Ranking: On May 29, 2023, Nigeria’s passport was ranked the 97th strongest in the world according to the Henley Passport Index. Today, our passport ranks 88th most powerful in the world, according to the latest Henley Passport Index.
Petrol Imports: On May 29, 2023, Nigeria was Africa’s biggest importer of refined petroleum products, according to the research consultancy, CITAC. Today, South Africa has overtaken Nigeria as the continent’s top fuel importer, and in a remarkable twist, Nigeria is now the largest exporter of petroleum products in West Africa.
Power Generation: Nigeria’s daily electricity generation on Monday, May 29, 2023, was approximately 3,704.26 megawatts (MW). However, in the Tinubu era, Nigeria broke its power generation record, reaching a peak of 5,801.84MW on Tuesday, March 4, 2025, and a maximum daily energy output of 128,370.75 megawatt-hours (MWh), the highest ever attained in the history of the electricity industry in Nigeria.
From the above, you can judge for yourself whether or not the economy and your personal financial position have improved under President Tinubu. All of these improvements in Nigeria’s polity and your personal well-being will be in jeopardy if Nigeria falls into the hands of desperate politicians who, when they were governors, spent public funds building breweries instead of building schools, and who deposited government monies in banks that they held significant shares in, rather than build infrastructure to serve the public good.
