Beyond the economic figures: Three years on, Nigerians still await reform’s promise

By Yusuf Musa

The timing also demands scrutiny. With the 2027 general elections approaching, the government must ensure that the 90-day plan is judged by its results rather than its announcement. This does not establish that the plan is politically motivated; it makes transparency and sustained implementation all the more important.

When the Federal Government removed the petrol subsidy in May 2023, Nigerians were told that the decision would free up public resources for development and enable the government to invest in measures that would improve their living conditions. More than three years later, the central question remains: how much of that promised relief has reached ordinary Nigerians?

The government has since pursued wide-ranging economic reforms, reporting improvements in revenue, foreign reserves and economic growth. Yet for many households, the struggle to afford food, pay for transport and meet basic needs remains a daily reality. The gap between reported economic progress and the experience of ordinary citizens raises a question that cannot be answered by headline figures alone: what tangible difference have these reforms made to people’s lives?

The National Economic Council’s endorsement of a new 90-day economic action plan on October 22, 2026, brings this question into sharper focus. The plan prioritises food affordability, tax harmonisation, the completion of high-impact projects, the removal of investment barriers and targeted household support. It also proposes a national dashboard to track projects and improve transparency in the use of subsidy-removal proceeds. These are worthwhile priorities. But why, after more than three years of economic reforms, does the government still need another short-term plan to address the hardship those reforms were expected to help ease?

The question is not whether targeted interventions are necessary. The concern is whether they are part of a coherent, sustained strategy or increasingly serve as temporary responses to mounting public complaints. Recent fuel-price relief measures raise a similar question: can short-term discounts provide meaningful, lasting relief if the underlying pressures on household budgets remain unresolved?

The government’s own figures provide a basis for examining what has happened to the resources generated since the reforms began. The Federal Ministry of Finance’s reform scorecard published in August 2026, estimates subsidy savings across the federation at N15.8 trillion. It puts the Federal Government’s share at N5.43 trillion, while also accounting for additional revenue and borrowing. The scorecard reports substantial increases in allocations to state and local governments as well. These figures matter, but accounting for resources is not the same as demonstrating their impact. Higher allocations can expand governments’ capacity to fund infrastructure and public services; they do not, by themselves, prove that citizens’ welfare has improved. The essential question is what these resources have delivered in measurable improvements to livelihoods, and whether the benefits justify the hardship Nigerians have endured.

There are signs of economic progress. The World Bank’s October 2026 assessment reported that Nigeria’s economy grew by 4.2 per cent in the first half of 2026, compared with 3.9 per cent in the corresponding period of 2025. It also reported that poverty had stabilised for the first time since 2019. These developments should be acknowledged. However, stabilisation is not the same as a broad improvement in living standards, and economic growth does not automatically translate into greater purchasing power.

The National Bureau of Statistics also reported headline inflation of 14.63 per cent in September 2026, down from 15.39 per cent in August, while food inflation stood at 19.59 per cent year-on-year. A falling inflation rate means prices are increasing more slowly; it does not mean that the prices households already struggle to pay have fallen. For citizens, the real test is whether food, transport and other necessities are becoming more affordable relative to their incomes.

This is where the new plan must be held to account. If it is intended to complement the broader reform programme, the government should clearly explain how its short-term targets connect to long-term outcomes. If it is a response to persistent hardship, it should demonstrate why previous interventions have not delivered sufficient relief and what will be different this time. The plan needs specific targets, responsible agencies, transparent funding arrangements and regular public reporting. Nigerians should be able to track whether food costs are easing, whether household support is reaching its intended beneficiaries and whether completed projects are delivering the promised benefits. The proposed dashboard could help, but only if it reports outcomes—not merely expenditure, activities or announcements.

The timing also demands scrutiny. With the 2027 general elections approaching, the government must ensure that the 90-day plan is judged by its results rather than its announcement. This does not establish that the plan is politically motivated; it makes transparency and sustained implementation all the more important.

What happens after the 90 days must be just as clear as what is promised during them. Nigeria does not lack economic reform announcements. What citizens need is a demonstrable connection between the resources freed, the policies implemented and the improvement of their living conditions. After more than three years, the government should be able to show not only that its economic indicators are improving, but also how ordinary Nigerians are benefiting. A 90-day plan may provide useful momentum, but it cannot substitute for the consistent delivery of reforms already underway. The real measure of success is not another set of targets or a more favourable economic headline. It is whether Nigerians can afford the necessities of life with less difficulty and see lasting improvements in their livelihoods.

The question, therefore, is not simply what the government can achieve in the next 90 days. It is why, after more than three years of reform, so many Nigerians are still waiting to feel its promised gains.

Yusuf Musa can be reached at yusufmusarigasa@gmail.com