Finance Minister Taiwo Oyedele has credited the federal government’s economic reform agenda for averting a potential currency collapse and national bankruptcy. In a performance review, the ministry highlighted that foreign exchange reserves have climbed to $52.32 billion as of August 17, 2026, while the gap between official and parallel market rates has narrowed to under 5 percent.

Key fiscal improvements include a reduction in debt service-to-revenue ratios from nearly 100 percent in 2022 to approximately 50 percent in 2026. Furthermore, GDP growth reached 3.89 percent in the first quarter of 2026, and headline inflation moderated to 15.91 percent by June. The government underscored that these interventions have stabilized fiscal conditions for states, ending a period where many were unable to meet salary obligations.