A policy analyst, Tosin Olayinka, has defended President Bola Ahmed Tinubu’s foreign engagements, insisting that the March 2026 UK state visit has produced tangible economic benefits contrary to claims by Chatham House.
In a statement reposted by presidential spokesman Bayo Onanuga on his X platform, Olayinka criticised a commentary by Leena Koni Hoffmann, describing it as selective and lacking depth.
He argued that the claim that Tinubu’s high-profile diplomacy has yielded little for ordinary Nigerians was “inaccurate and incomplete,” noting that it overlooked improvements in macroeconomic stability, investor confidence, and Nigeria’s external financial position.
According to him, recent assessments by institutions such as the International Monetary Fund and the World Bank point to significant progress in Nigeria’s reform programme, including enhanced resilience and stabilisation of key economic indicators.
Olayinka maintained that the Tinubu administration has pursued domestic reforms alongside strategic foreign policy engagements aimed at attracting investment, strengthening trade ties, and improving security cooperation.
Highlighting specific gains, he cited Nigeria’s return to the Eurobond market, improved foreign exchange liquidity, rising external reserves, and positive sovereign rating outlooks from global agencies as evidence of policy credibility.
He also pointed to concrete outcomes from the UK visit, including a £746 million export finance agreement between Nigeria and the United Kingdom to upgrade the Lagos Port Complex and Tin Can Island Port Complex. He said the deal would boost trade efficiency and reduce logistics bottlenecks.
“Ports are not ceremonial ornaments. They are critical infrastructure that drive competitiveness and economic growth,” he stated.
While acknowledging that economic hardship persists for many Nigerians, Olayinka stressed that reforms such as fuel subsidy removal and foreign exchange adjustments were necessary to correct structural distortions.
He noted that international financial institutions have similarly acknowledged both the progress made and the need to cushion social impacts through inclusive policies.
The analyst further cited improvements in oil production levels and renewed investor interest in the sector as additional indicators of recovery momentum.
He concluded that although challenges remain, Nigeria is undergoing a gradual economic reset, with reforms beginning to yield measurable results.
According to him, the key task ahead is to translate macroeconomic gains into tangible improvements in living standards, job creation, and national security.
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