President Bola Tinubu says Nigeria has moved beyond the “emergency treatment” phase of his administration’s economic reforms and is now focused on delivering shared prosperity, a message aimed at voters ahead of January’s presidential election. In an Independence Day address, Tinubu argued that the economy’s foundations had been repaired after three years of sweeping policy changes. The reforms, however, have significantly increased living and operating costs for families and businesses, particularly after the removal of fuel subsidies sent prices soaring more than fivefold. And while Nigeria’s economy has continued to expand in recent quarters, its debt burden has also grown by 20% under Tinubu. His decision to extend implementation of last year’s budget has also raised questions about fiscal management and future debt-servicing pressures.