A presidential adviser has said Nigeria’s economic reforms need more time to produce results that ordinary citizens can feel. He added that no country can build prosperity within a single term of office.

Tope Fasua, Special Adviser to the President on Economic Affairs in the Vice President’s Office, spoke to the News Agency of Nigeria (NAN) on the sidelines of the IMF/World Bank Annual Meetings in Thailand. He said Nigerians will begin to enjoy greater benefits of the reforms as the government consolidates recent gains in inflation, foreign reserves, economic growth and investment. He said meaningful development cannot be achieved in two, three or four years, and that it requires sustained effort, cooperation and patience.

Fasua said inflation fell to about 14.63 per cent in September. He expressed optimism that the downward trend would continue towards the 10 per cent range in the coming months, barring unforeseen circumstances. He said improved macroeconomic indicators have lifted Nigeria’s standing with international investors, adding that the country got a very good reception at the meetings.

The government is targeting growth of six per cent, up from the current 4.43 per cent, with a possible seven per cent in later years. Fasua said President Bola Tinubu has indicated that the period of economic sacrifice is approaching its end.

The adviser acknowledged that better headline numbers have yet to translate into relief for many households, and that rising fuel prices continue to squeeze families. He argued, however, that the macro-economy must be fixed first, because the micro-economy can only stand on it. He said the government would resist any attempt to reverse the reforms, describing now as the wrong time to abandon them.

To cushion the effects of hardship, Fasua said the Federal Government is developing a social protection package for the most vulnerable Nigerians. Officials are working on documentation to identify eligible beneficiaries so that assistance can reach them directly. He appealed for national unity, saying Nigerians have only one country and must work together.

His remarks come as the 2027 election campaign builds. Critics of the administration continue to point to the cost of living, while supporters say the reforms are laying the foundation for long-term growth.