Nigeria, June 17 -- Since President Bola Ahmed Tinubu took office on May 29, 2023, the Nigerian economy has been placed under what looks like economic life support. His team has spoken of "bold reforms" and a long-overdue rescue mission. But as it stands today, there is a lingering, unavoidable question: "Is the economy slowly recuperating or still gasping for breath in the Intensive Care Unit (ICU)?"

From Tinubu's corner, the narrative is one of strategic surgery, cutting off the fuel subsidy tumor, realigning the foreign exchange market, expanding the tax base, and opening up to foreign investment. Supporters brand these reforms as painful but necessary for long-term economic healing. They argue that the government is setting up a new ...