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Marking two years in office, President Bola Tinubu told Nigerians that the worst is behind them and the country is improving. He recognized the hardships caused by his reforms and thanked citizens for their patience. “Our economic reforms are working,” he said.
On the day he took office in May 2023, he announced the end of a long-standing fuel subsidy - a move that caused a huge surge in prices, leaving many Nigerians unable to buy enough food to eat.
Nigeria's biggest opposition party, the Peoples Democratic Party (PDP) described Tinubu's two years in office as a "massive disappointment". In a statement released to mark Tinubu's second anniversary, the party which lost power in 2015 said the president had failed Nigerians.
But Tinubu said the situation was now improving: “Despite the bump in the cost of living, we have made undeniable progress. Inflation has begun to ease, with rice prices and other staples declining."
Inflation was 24% last month, according to the official figures, compared to 22% when he took over. This is an improvement from this time last year when it stood at 34%. Weeks later Nigerians took to the streets in a nationwide protest that left several people dead.
A fall in the rate of inflation does not mean that prices are falling - just that they are rising at a slower rate than before.
The World Bank predicts that Nigeria’s total output, or GDP, will grow by 4% this year - a faster rate than the 3% when Tinubu took over.
However, unemployment remains a major concern, with many graduates still complaining about not being able to find jobs.
Public affairs analyst professor Adeosun Olufemi The president, 73, won the 2023 election with 37% of the vote – defeating former Vice-President Atiku Abubakar and former governor Peter Obi in a three-way race.
There is massive speculation that some of the major political parties could form a coalition ahead of the next election in 2027 to challenge Tinubu, who is expected to seek a second term.
