The Northern Christian Youth Alliance (NCYA) has publicly endorsed President Bola Ahmed Tinubu's economic reform agenda, describing the removal of the fuel subsidy and the restructuring of Nigeria's tax system as bold decisions that have placed the country on a more stable fiscal path.
In a statement released on Tuesday, August 11, 2026, and signed by Evangelist Benjamin Akoka, the group praised the administration's policies, with particular focus on Zacch Adedeji, Executive Chairman of the Nigeria Revenue Service (NRS). The alliance credited Adedeji with building a tax framework that draws more from wealthy Nigerians and large corporations while shielding lower-income households.
The endorsement comes amid ongoing national debate over the economic impact of the reforms, which have been central to President Tinubu's policy agenda since he took office.
NCYA's Case for Subsidy Removal
Akoka said the decision to end the fuel subsidy, which took effect on May 29, 2023, was not a political move but a fiscal necessity. He cited Adedeji's public defence of the policy, which included warnings that maintaining the subsidy could have led to an annual bill of about ₦53 trillion and pushed the exchange rate toward ₦3,500 to the dollar.
"The decision to end the fuel subsidy was not a political gamble but a necessary intervention that saved Nigeria from deeper fiscal ruin. Chairman Zacch Adedeji has consistently explained that subsidy was never true income but a system of borrowing to buy petrol at market rates and sell it far below cost," Akoka said.
The alliance also pointed to what it described as measurable results from the reforms, including higher Federation Account allocations to states and local governments, growth in Nigeria's external reserves, and an increase in domestic refining capacity.
Alliance Backs 'Tax Prosperity, Not Poverty' Approach
On taxation, the NCYA said Adedeji's approach of targeting income rather than investment activity was the right one. Under the current framework, Nigerians earning up to ₦800,000 annually are exempt from personal income tax, while essential goods and services benefit from VAT relief.
"The policy of taxing the fruit and not the seed, the return and not the investment, ensures that wealthy individuals and successful enterprises contribute fairly while low-income earners earning up to ₦800,000 annually remain exempt from personal income tax, and essential goods and services enjoy VAT relief. This is equity in action," the statement read.
The group said new tax laws consolidate older legislation, simplify compliance, and apply higher rates to top earners while protecting the poor.
Akoka called on other youth bodies, faith groups and civil society organisations to weigh the short-term hardship from the reforms against what he described as the alternative of national insolvency.
"The courage shown by President Tinubu and the professional diligence of Chairman Adedeji represent a solid foundation upon which a more resilient Nigerian economy can be built for generations to come," he said.
Tinubu's Economic Reforms Trigger Massive Wealth Creation
Recall that NGX Group CEO Temi Popoola told President Tinubu that economic reforms have minted hundreds of thousands of new millionaires. Popoola revealed that the total value of listed equities jumped from N30 trillion in 2023 to N160 trillion under Tinubu's watch.
The NGX chief projected that listed stock value could reach N230 trillion before the end of 2026, driven by new listings.
Meanwhile, Legit.ng also reported that President Tinubu said Nigeria's economy is beginning to recover from earlier challenges. Tinubu said economic reforms introduced by his administration have helped stabilise the country's finances, and he claimed that state governors are no longer borrowing from banks to pay workers' salaries.
