Federal Government Lists 11 Major Economic Reforms Implemented Since May 2023
- Nigeria's Finance Minister Taiwo Oyedele presented a Reform Scorecard covering key economic changes made between May 2023 and December 2025
- The reforms span areas including petroleum subsidy removal, foreign exchange, taxation, banking, labour and capital markets
- The government launched an 11-day review to give Nigerians detailed information on each reform's objectives and progress
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Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Nigeria's Federal Government has disclosed 11 major economic and financial reforms rolled out between May 2023 and December 2025, saying the measures were designed to tackle deep-rooted structural problems and build a base for long-term economic growth.
Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, presented the reforms during a media briefing on the government's Reform Scorecard, covering areas such as fiscal policy, taxation, foreign exchange, labour, education, energy, infrastructure, banking and capital markets.
Source: Facebook
The 11 Reforms Listed by the Government*
The complete list of reforms as presented by the government is:
- Removal of the Petroleum Subsidy — Fiscal Reform
- Unification of the Foreign Exchange Market — Monetary and Exchange Rate Reform
- Tax Reform Acts, 2025 — Fiscal and Institutional Reform
- National Minimum Wage (Amendment) Act — Labour and Welfare Reform
- Crude Oil Theft Crackdown and Upstream Investment Revival — Energy Sector Reform
- Capital Market Reform and Return of Investor Confidence — Investment and Capital Markets
- Infrastructure Renewal through Public-Private Partnerships — Infrastructure Reform
- Bank Recapitalisation — Financial Sector Reform
- Naira-for-Crude Deal with Dangote Refinery — Energy Sector Reform
- Investment and Securities Act 2025 — Capital Markets Law Reform
Government's Position on Progress and Accountability
The government said the reforms had begun to produce measurable results, but was careful to note that much work remained ahead.
It framed economic reform as a continuous process that demands difficult choices, sustained political will and open reporting to the public, Vanguard reports.
The government said:
"Transparency and accountability remain central to the reform process. Nigerians deserve to understand what is being done, why it is being done, the results being achieved and the challenges that still lie ahead."
Source: UGC
Officials added that the overall goal was to reinforce the economy's foundations and create the conditions for shared, sustainable prosperity.
As part of the rollout, the government announced an 11-day Reform Scorecard review, during which detailed information on the objectives, implementation and impact of each reform will be made public.
The initiative is intended to improve public understanding of the government's economic direction and to address the challenges still confronting the reform agenda.
Expert praises FG for 30% debt relief
Earlier, Legit.ng reported that Muda Yusuf, the Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), has welcomed the federal government’s approval of a 30% discount on outstanding debts owed by Nigerian airlines.
Yusuf described the move as a timely intervention to ease financial pressure on operators in the aviation sector.
He added that the decision by President Bola Ahmed Tinubu provides short-term relief to airlines struggling with rising and unsustainable operating costs.
Source: Legit.ng
