Former CBN Deputy Governor Credits Tinubu’s Economic Reforms for Stabilising Nigeria’s Economy
Dr. Tunde Lemo, a former deputy governor of the Central Bank of Nigeria (CBN), has credited President Bola Tinubu’s economic reforms with preventing Nigeria from sliding into bankruptcy.
Speaking on Frontline, a current affairs programme on Eagle 102.5 FM, Ilese Ijebu, Lemo described the country’s economy as gradually stabilising and said Nigerians are “beginning to see light at the end of the tunnel” following a period of difficult but necessary policy interventions.
The veteran banker highlighted several positive indicators, including declining inflation rates, improved exchange rate stability, and easing food price pressures towards the end of 2025. “We thank God because we are beginning to see light at the end of the tunnel. The economy is resilient,” he said.
While acknowledging that prices remain high, Lemo noted a consistent downward trend in both headline and food inflation. He pointed to December 2025 as a significant milestone, noting that Nigerians no longer had to queue for basic food items. He attributed this improvement partly to the removal of the fuel subsidy, which, according to him, contributed to a more efficient market.
“For the first time in December, we didn’t need to queue up for food. Those who bought at the right time will tell you prices were about 20 percent cheaper than the previous year,” Lemo explained.
The former CBN official’s remarks underscore the government’s message that the short-term sacrifices associated with economic reforms are beginning to yield tangible benefits for Nigerians.
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