The Federal Government says it plans to slow the pace of major economic reforms and concentrate more on addressing the rising cost-of-living challenges affecting millions of Nigerians.
Speaking in Kigali, officials explained that the new direction is aimed at ensuring that economic reforms already introduced begin to produce visible benefits for ordinary citizens struggling with inflation and rising living expenses.
According to Taiwo Oyedele, the government is now prioritising policies capable of delivering practical relief to households rather than introducing another round of painful economic adjustments.
The development comes nearly three years after the administration of President Bola Ahmed Tinubu introduced sweeping reforms, including fuel subsidy removal and foreign exchange changes, which significantly impacted prices of goods and services across the country.
While authorities maintain that the reforms were necessary to stabilise the economy, many Nigerians continue to face pressure from high transportation costs, food inflation, and declining purchasing power.
Government officials say the next phase will focus on translating macroeconomic gains into direct support and economic opportunities for citizens, particularly vulnerable groups and low-income households.
Analysts believe the move reflects growing concern over public hardship as economic realities continue to shape daily life for many Nigerians.
The administration is also expected to intensify interventions in sectors such as agriculture, transportation, and social support as part of efforts to ease pressure on households and support economic recovery.
Observers say the success of the strategy will depend on how quickly relief measures reach ordinary Nigerians already dealing with the effects of inflation and slow income growth.