Nigeria’s economy recovering after painful reforms —NRS

ABUJA — The Nigeria Revenue Service, NRS, has said the Nigerian economy is showing strong signs of recovery and accelerated growth following a series of “painful” reforms implemented by President Bola Tinubu.
The revenue service, in an internal report, said the economy had moved “decisively from acute macroeconomic distress toward a more stable and increasingly resilient footing.”
According to the report, the improvement followed reforms introduced by the Tinubu administration.
The NRS said the administration inherited four major economic distortions: a fiscally unsustainable fuel subsidy regime, an opaque foreign exchange system that discouraged investment, a non-performing oil sec...