For years, the phrase “Nigeria is finished” has echoed in conversations from Lagos to London, capturing the frustration of citizens weary of inflation, currency instability, and recurring power shortages. Yet, beneath the noise and cynicism, a quieter transformation is taking shape — one that suggests Africa’s most populous nation may be on the path to genuine recovery.
According to Jaouad Rahou, Chief Financial Officer and business leader with decades of financial management experience, the data tells a story of resilience and renewal. “Nigeria is rising again,” Rahou asserts, pointing to a range of economic and social indicators that reveal a country gradually regaining balance and momentum.
The first and most telling sign is the drop in inflation. After peaking at an alarming 33 percent in early 2024, Nigeria’s inflation rate has steadily declined to 18.02 percent by September 2025, marking five consecutive months of relief for consumers and businesses alike. This downward trend has brought a renewed sense of confidence in economic policy and has strengthened the purchasing power of ordinary Nigerians.
Equally significant is the performance of the naira, which has shown unexpected resilience following a series of currency reforms. For the first time in years, the balance of payments recorded a $6.83 billion surplus, signaling a shift from prolonged deficits to cautious optimism. Meanwhile, remittances from Nigerians in the diaspora have surpassed $20 billion, underscoring both the enduring faith and financial commitment of those living abroad.
Trade and commerce are also regaining vitality. At the country’s ports, cargo volumes have surged by more than thirty percent compared to last year — a clear indication that trade flows are recovering and supply chains are stabilizing. The Nigerian Exchange (NGX) Index has mirrored this momentum, rallying by over forty-five percent year-to-date and earning a place among the best-performing markets in Africa.
In the private sector, innovation is flourishing once more. Startups in fintech, logistics, and clean energy are attracting renewed investment, while the Dangote Refinery — one of Africa’s largest industrial projects — is reducing the country’s dependence on imported fuel and boosting domestic supply. At the same time, the nation’s power sector is experiencing incremental but meaningful progress, with new solar grids, private investment, and improved distribution translating into longer hours of electricity for households and businesses.
Government reforms are contributing to this renewed sense of stability. Over sixty outdated levies have been scrapped in a sweeping tax reform effort aimed at simplifying compliance and encouraging entrepreneurship. The manufacturing sector is also expanding, with “Made in Nigeria” products — from Aba’s renowned leather goods to Yaba’s thriving software scene — finding new markets both locally and abroad.
Cultural industries continue to thrive as well. The global rise of Afrobeats has transformed music into a formidable export, converting cultural influence into measurable economic value. Agriculture, too, is gaining momentum, as exports of cassava, cocoa, and sesame find greater demand in international markets. Meanwhile, Nigeria’s digital economy is booming, with transactions exceeding ₦600 trillion in 2025 — a forty percent growth that reflects the country’s rapid shift toward a cashless society.
In Rahou’s words, “Nigeria isn’t perfect. But it’s moving. The data shows it. The people drive it. And the spirit behind it never stops.” His statement captures the essence of the country’s current mood — a blend of realism, determination, and hope.
From the financial markets of Lagos to the farms of Kaduna, from the energy corridors of the Niger Delta to the tech hubs of Yaba, Nigeria’s story is being rewritten. It is not a tale of overnight transformation, but one of steady progress — powered by resilience, reform, and an unshakable belief that, as many Nigerians say, “E go better — by God’s grace.”
