Nigeria Is Making Serious Foundational Progress, Says Tinubu

President Bola Tinubu has said that Nigeria is making “serious foundational progress” as his administration’s economic reforms continue to stabilise the economy.

Speaking while receiving a delegation from Deloitte Africa led by its Chief Executive Officer, Ruwayda Redfearn, at the State House in Abuja, the President defended the administration’s fiscal and revenue reforms, acknowledging that they had come with difficult decisions but insisting they were producing positive results.

“We are following the example of Deloitte’s greatness to change things from the foundation, building the necessary future for our people.

“Yes, reforms are difficult. It has not been a McDonald’s customer relationship but a harvester of good things, if implemented well, and that is what we are about,” Tinubu was quoted as saying on Wednesday.

“Thank you for your partnership in paying attention to what we are doing here, as we have heard from the Honourable Minister of Finance about the fiscal, revenue and tax reforms that have taken place and are moving the nation forward.

“The reforms on revenue will continue to stimulate growth. And the effect of the reform? Yes, some issues are difficult to take the bitter medicine, but it is working well. For the economy, Nigeria is making serious foundational progress,’’ the President said.

Tinubu said the reforms had strengthened the country’s fiscal and revenue systems, repositioned financial institutions and enhanced Nigeria’s global competitiveness.

He also urged Deloitte Africa to deepen its engagement in Nigeria by expanding opportunities for youth training and employment, noting the country’s large and dynamic young population.

“The family of Deloitte; you just reminded me of my cradle years in accountancy and where I cut my childhood accounting teeth in Chicago. Deloitte has a good training programme, and I believe you will continue to reflect that,’’ he stated.

Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, also encouraged the firm to prioritise capacity building for Nigerian youths as part of its partnership with the government.

Earlier, Deloitte Africa CEO Ruwayda Redfearn commended the administration’s reform efforts and reaffirmed the firm’s readiness to support Nigeria’s economic transformation.

Redfearn also pledged support for investments, youth development and job creation.

She said Deloitte, which generated $74 billion in revenue in 2025 and employs more than 500,000 people globally, including over 6,000 in Africa, was prepared to deploy its expertise in support of the government’s agenda.

“We are before you to say that we want to serve. We have a local team on the ground that is ready, as well as the global firm, to support you and support your administration as you lead the country,’’ she said.

Also speaking, Deloitte Africa Chief Executive Officer, Yomi Olugbenro, said the firm’s priority was to help ensure that the benefits of the government’s reforms reached ordinary Nigerians.

“We do what we do because of the philosophy that our Africa CEOs talk about – making an impact that matters. Where we are at the moment, we believe that the ground has been solidly laid. There is a need to truly extract more value and deliver the dividends of democracy to ordinary Nigerians on the street. The bigger work is really about how to cascade some of those big reforms further down.

“We do believe that with the capabilities that the firm has all over the world, with the half a million people that our CEO spoke about, we have use cases, examples, experiences of how we supported nations all around the world, so Nigeria will definitely benefit from those experiences.

“So that is why we are here, and we welcome the invitation that you may grant us as to where exactly you want us to support you,’’ he added.