Nigeria’s economic landscape remains in a state of fiscal adjustment rather than consolidation. While the current administration has achieved structural gains—such as removing fuel subsidies and improving tax administration—the country continues to face significant challenges. Debt servicing remains a major constraint, consuming roughly 45% of federal revenue, and the government faces a difficult trade-off between currency policy and fiscal stability. A weaker naira boosts government revenue through converted oil earnings but fuels inflation, while a stronger naira could provide relief to households but risks creating substantial budget deficits. True fiscal stability, according to analysts, depends on increasing oil production and non-oil exports to reduce the current reliance on exchange-rate-driven revenues.