Once synonymous with volatility, Nigeria is quietly rewriting its economic story. The reforms of 2023–2025, including the removal of fuel subsidies, exchange-rate unification, and aggressive tax expansion, have reshaped Africa’s most populous economy into an investable proposition for long-term capital.
While the country’s tax-to-gross domestic product (GDP) ratio rose to 13.5 percent in 2024, foreign reserves stabilised above $42 billion, with the balance of payments recording a $6.8 billion surplus - the first in nearly a decade. Fitch Rat
