President Tinubu has built a reputation for recruiting skilled technocrats into key roles since his Lagos State days. His track record of strategic appointments continues to shape Nigeria's economic landscape today.
During his tenure as Lagos governor, Tinubu appointed Olayemi Cardoso to lead economic planning and budgeting efforts. Cardoso served as the state's Commissioner of Economic Planning and Budget, functioning as the administration's primary think tank.
Cardoso spearheaded Lagos's independent tax reforms during that period. He received the Lagos State Good Governance Award for Innovative Thinking in recognition of his contributions.
In September 2023, Tinubu selected Cardoso as Nigeria's 12th Central Bank governor. Cardoso's confirmation followed on September 23, 2023.
Cardoso holds a Harvard education and boasts extensive banking credentials. He's a Fellow of the Chartered Institute of Stockbrokers and respected policy expert who previously worked at Chase Merchant Bank and Citibank, where he ultimately became chairman.
Recently, Tinubu appointed Dr Bala Mohammed Bello as special adviser on political economy. Bello holds a PhD in Leadership and Management and previously served as deputy governor for corporate services at the Central Bank.
Bello also sat on the bank's Monetary Policy Committee. This committee evaluates economic data and makes critical decisions about interest rates and money supply management.
Together, Tinubu and the CBN leadership have pursued macroeconomic improvements with measurable results. Economic stability and growth remain ongoing priorities despite lingering obstacles.
International observers have taken notice of these efforts. The International Monetary Fund acknowledged that reforms have substantially bolstered macroeconomic stability and strengthened Nigeria's defenses against external economic shocks.
Dr Christian Ebeke, the IMF's resident representative in Nigeria, praised these developments. According to him, the reforms help Nigeria weather global market volatility.
Ebeke noted something particularly significant about currency markets. He observed that naira trading in parallel markets now closely mirrors official exchange rates, a notable shift from earlier conditions.
This convergence signals real progress, Ebeke told reporters. It demonstrates that macroeconomic stability has been restored and Nigeria's economy can better resist external pressures.
Dr Ngozi Okonkwo-Iweala also weighed in on recent developments. The WTO director-general, formerly Nigeria's finance minister, commended Tinubu for achieving economic stability and indicated that growth now needed attention.
Growth appears to be materializing as well. Nigeria's GDP expanded 4.07 percent year-on-year in the fourth quarter of 2025, surpassing the prior year's 3.76 percent rate.
Full-year 2025 figures showed 3.87 percent growth compared to 3.38 percent in 2024. Projections anticipate 4.1 percent expansion in 2026, climbing further to 4.3 percent by 2027.
Currency performance has improved entering 2026. The naira has strengthened against the dollar since January began.
Inflation pressures have also eased considerably. The CBN achieved what the IMF commended as meaningful disinflation throughout the period.
