Nigeria's Federal Government has disclosed 11 major economic and financial reforms rolled out between May 2023 and December 2025, according to Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, who presented the measures during a media briefing on the government's Reform Scorecard. The reforms span fiscal policy, taxation, foreign exchange, labour, education, energy, infrastructure, banking, and capital markets, and are designed to tackle deep-rooted structural problems and build a base for long-term economic growth.
Full List of 11 Reforms Presented by the Government
The complete list of reforms as presented by the government includes the Removal of the Petroleum Subsidy, classified as a Fiscal Reform; the Unification of the Foreign Exchange Market, a Monetary and Exchange Rate Reform; the Tax Reform Acts, 2025, a Fiscal and Institutional Reform; the National Minimum Wage (Amendment) Act, a Labour and Welfare Reform; the Crude Oil Theft Crackdown and Upstream Investment Revival, an Energy Sector Reform; the Capital Market Reform and Return of Investor Confidence, an Investment and Capital Markets reform; the Infrastructure Renewal through Public-Private Partnerships, an Infrastructure Reform; the Bank Recapitalisation, a Financial Sector Reform; the Naira-for-Crude Deal with Dangote Refinery, an Energy Sector Reform; and the Investment and Securities Act 2025, a Capital Markets Law Reform.
Government Stresses Transparency and Accountability
The government said the reforms had begun to produce measurable results but was careful to note that much work remained ahead. As reported by Vanguard, the government framed economic reform as a continuous process that demands difficult choices, sustained political will, and open reporting to the public. The government stated: "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." Officials added that the overall goal was to reinforce the economy's foundations and create the conditions for shared, sustainable prosperity.
11-Day Reform Scorecard Review Announced
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. The government also noted that fuel subsidy removal and FX market unification are among the major reforms highlighted in the scorecard.
