Group Defends Tinubu’s Economic Reforms, Cites Private Sector Growth
Group Defends Tinubu’s Economic Reforms, Cites Private Sector Growth
Group Defends Tinubu’s Economic Reforms, Cites Private Sector Growth
The Independent Media and Policy Initiative (IMPI) has defended the economic reforms of President Bola Ahmed Tinubu, dismissing criticisms from opposition groups as lacking empirical backing.
In a statement issued by its Chairman, Omoniyi M Akinsiju, the group argued that recent economic indicators point to a steady recovery, particularly in Nigeria’s real sector, despite initial challenges associated with reform implementation.
IMPI noted that while policy changes introduced since 2023 initially triggered volatility, they have begun to yield positive outcomes, including increased revenues and profitability among private sector companies.
According to the group, an analysis of 20 blue-chip firms listed on the Nigerian Exchange Group (NGX) showed combined revenues of ₦27.8 trillion in 2025, representing a 28.7 per cent increase from ₦21.62 trillion recorded in 2024.
Among top performers, MTN Nigeria Communications Plc reported a profit before tax of ₦1.7 trillion in 2025, rebounding from a ₦550.3 billion loss in the previous year. Airtel Africa Plc also returned to profitability with a profit after tax of $328 million, while Guinness Nigeria Plc recorded ₦41 billion in profit after tax.
Similarly, Nigerian Breweries Plc reported a 68.9 per cent increase in revenue to ₦383.6 billion, while International Breweries Plc posted a pre-tax profit of ₦88.9 billion, reversing previous losses.
In the industrial sector, Dangote Cement Plc recorded ₦4.31 trillion in revenue, while Seplat Energy Plc announced ₦4.14 trillion in revenue, representing a significant increase from the previous year. Unilever Nigeria Plc also saw its net profit double to ₦32 billion.
The group further stated that the improved performance reflects stabilising macroeconomic conditions and a more predictable foreign exchange environment, which have contributed to strengthening the naira’s position among African currencies.
Beyond the formal sector, IMPI cited a 65 per cent increase in revenue within the informal sector, based on a 2025 survey, indicating broader economic recovery across different segments.
The group argued that the resurgence in corporate earnings could translate into increased employment, wealth creation, and higher Gross Domestic Product (GDP) growth.
IMPI also highlighted that listed companies paid out an estimated ₦1.7 trillion in dividends to shareholders, signalling renewed investor confidence.
While acknowledging the challenges associated with economic reforms, the group maintained that current trends demonstrate resilience and adaptation by businesses through improved efficiency, pricing strategies, and expansion into new revenue streams.
It concluded that the ongoing reforms are gradually positioning the Nigerian economy for sustained growth and long-term stability.
Group Defends Tinubu’s Economic Reforms, Cites Private Sector Growth
