The Federal Government says President Bola Tinubu's economic reforms have produced what it called a reasonable degree of price stability and growth, even as it acknowledged that inflation remains uncomfortably high for most households.

Minister of State for Foreign Affairs, Ambassador Sola Enikanolaiye, made the claim on Sunday at a sensitisation workshop on the ECOWAS Trade Liberalisation Scheme held in Bauchi for the North-East geopolitical zone.

The economic reforms of President Bola Tinubu have achieved a great degree of stabilisation and growth.

Enikanolaiye said the country was moving progressively towards economic development, social development and prosperity. He conceded that inflation was still high, but argued that it was on a downward path and that other indicators had improved.

Trade scheme pitched at North-East businesses

The workshop was convened to walk businesses in the zone through the ECOWAS Trade Liberalisation Scheme, the regional arrangement that allows goods produced within member states to move across borders without the usual duties.

Officials said the scheme is meant to make legitimate regional trade easier and to deepen economic cooperation between member states — a pitch aimed squarely at manufacturers and agro-processors in a zone that has spent a decade dealing with insecurity.

Bauchi State Governor Bala Mohammed, represented by his deputy Auwal Jatau, told delegates the state would support local investment and work to widen business opportunities.

The ministry framed the engagement as part of the administration's so-called 4D foreign policy framework, which it says places Nigerian citizens at the centre of the country's external dealings.

The numbers behind the claim

The government's confidence rests on a run of figures that have moved in its favour this year. Headline inflation stood at 15.43 per cent in July, down from 15.91 per cent in June and well below the peak of above 34 per cent recorded in 2024. Gross domestic product grew by 4.43 per cent in the second quarter.

Whether households feel any of it is a separate question, and one the opposition has been pressing hard as the 2027 election cycle gathers pace.

Reporting by THISDAY. This summary was written by the TalkNaijaMedia desk.