The works of the Fourth Republic.

2007 Major Reforms Public Procurement Act 2007 Created the Bureau of Public Procurement (BPP) and established due-process rules for federal contracts. Mandated open competitive bidding, contract thresholds, and Standing Tenders Boards. Completed 2007 Major Reforms National Identity Management Commission Act 2007 Created NIMC and the National Identification Number (NIN) framework. Foundation for every later digital-identity programme — SIM linking, BVN, PVC, eNaira, ID-as-a-service. Completed 2007 Rail ·$8.3bn (framework) Lagos-Kano narrow-gauge rail rehabilitation ($8.3bn signing) Oct 2006 contract with CCECC to rebuild the colonial 1,315 km Lagos-Kano line as standard-gauge — $8.3bn financed via Chinese EXIM. Set the precedent for every later FG-CCECC rail deal; mobilisation completed before handover. Completed 2007 Telecom & Digital ·$311m NigComSat-1 — first communications satellite Africa's first geostationary communications satellite, launched May 2007 from Xichang, China by Great Wall Industry Corp. Failed in 2008 (solar-array failure); replaced by NigComSat-1R under Jonathan. Completed 2007 Power & Energy ·~$8.6bn National Integrated Power Project (NIPP) — initiation Initiated 2004 to build 10 federal-government power stations totalling ~5,455 MW (Geregu, Omotosho, Olorunsogo, Calabar, Egbema, Alaoji, Ihovbor, Sapele, Gbarain, Benin). Financing locked through Excess Crude Account; Niger Delta Power Holding Company set up 2005 to deliver. Buildout completed under Jonathan (see jonathan-nipp-genco-buildout). Completed 2007 Aviation & Ports ·$200m (private) Murtala Muhammed Airport Terminal 2 (MMA2) Bi-Courtney Aviation Services concession; built and operated under BOT. Domestic terminal opened April 2007 — Nigeria's first major airport PPP. Completed 2007 Major Reforms National Economic Empowerment and Development Strategy (NEEDS) Multi-year economic blueprint launched 2003 by Economic Team (Okonjo-Iweala, Soludo, El-Rufai, Nasir Ahmad). Anchored the privatisation/deregulation agenda + macro stability that delivered 7%+ GDP growth. Completed 2006 Major Reforms ·$12.4bn paid / $18bn written off Paris Club $18bn debt forgiveness Nigeria paid $12.4bn over 2005-2006 in exchange for $18bn write-off from Paris Club creditors — exit from the Club. Unlocked sustained fiscal space for the next decade. Completed 2006 Rail 25-Year Strategic Rail Modernisation Plan Cabinet approval (Sep 2002) of a 25-year roadmap to convert the entire narrow-gauge network to standard gauge and add 7 new corridors. Foundation for every SGR project Nigeria has built since — Lagos-Ibadan, Abuja-Kaduna, Itakpe-Warri all trace back to this blueprint. Completed 2006 Telecom & Digital NITEL/M-Tel privatisation Privatisation of the state telecom monopoly NITEL + its mobile arm M-Tel. The sale to Transcorp (2006) collapsed; assets later reverted. The reform mattered more than the buyer — it locked in the competitive market the GSM licences had opened. Completed 2005 Major Reforms ·₦25bn min cap Banking Sector Consolidation (₦25bn minimum capital) CBN under Soludo raised minimum capital from ₦2bn to ₦25bn (Dec 2005 deadline). Reduced 89 banks to 25 mega-banks through M&A. Foundation for Nigeria's present-day banking system (GTBank, Zenith, Access, UBA scale). Completed 2005 Education & Social National Health Insurance Scheme (NHIS) Launched 2005 to deliver universal health coverage starting with federal civil servants. Reformed into the National Health Insurance Authority (NHIA) by Act 2022. Completed 2004 Education & Social Universal Basic Education (UBE) Act Made 9 years of basic education (6 primary + 3 junior secondary) free and compulsory. Created UBEC to administer matching grants to states. Completed 2004 Major Reforms ·₦20tn+ AUM today Pension Reform Act 2004 — Contributory Pension Scheme Created the Contributory Pension Scheme (CPS), the National Pension Commission (PenCom), and licensed Pension Fund Administrators. Replaced the unfunded defined-benefit system with portable individual accounts. Assets under management grew to ₦20tn+ by 2024. Completed 2003 Major Reforms ·~$11bn recovered (to 2007) Economic and Financial Crimes Commission (EFCC) Established 2003 (with full Act 2004) under Nuhu Ribadu to investigate financial crimes — money laundering, 419 fraud, public-fund theft. Recovered ~$11bn in assets by end-of-tenure 2007. Completed 2003 Telecom & Digital ·~$13m NigeriaSat-1 — first earth-observation satellite Built by Surrey Satellite Technology UK for the National Space Research and Development Agency (NASRDA); launched September 2003 from Plesetsk Cosmodrome. Completed 2003 Aviation & Ports Total Radar Coverage of Nigeria (TRACON) launch 2000 launch of the TRACON programme through NAMA — replaced piecemeal radar with continuous primary + secondary surveillance across Nigerian airspace. Completed 2010 under Yar'Adua/Jonathan; enabled commercial CAT-3 ILS at Lagos/Abuja. Completed 2002 Roads & Bridges Federal Roads Maintenance Agency (FERMA) Established by Act of National Assembly to take over routine maintenance of all federal roads (≈35,000 km) from the Federal Ministry of Works. Completed 2001 Telecom & Digital ·~$285m (licence proceeds) GSM Liberalisation NCC issued mobile licences to MTN, Econet (now Airtel), Globacom and Mtel, ending the NITEL monopoly. Active phone lines jumped from ~400,000 in 1999 to >30 million by 2007 — Nigeria's single largest economic-mobility reform. Completed 2000 Major Reforms Niger Delta Development Commission (NDDC) Established by Act 2000 to coordinate the development of the nine oil-producing states. Funded by 3% of total federal oil revenue plus 15% of statutory allocations to oil-producing states. Completed 2000 Major Reforms Independent Corrupt Practices Commission (ICPC) Established by Act 2000 as the first dedicated federal anti-corruption agency. Mandate covers investigation and prosecution of corruption-related offences across public service. Completed 1999 Aviation & Ports Federal Airports Authority of Nigeria reorganisation (FAAN Act) 1999 FAAN Act reorganisation — set up the modern FAAN to manage 22 federal airports as commercial undertakings rather than civil-service line items. Created the runway-charge / passenger-service-charge regime that funds airport operations today. Completed

2010 Major Reforms ·~₦5tn NPLs absorbed Asset Management Corporation of Nigeria (AMCON) Act 2010 Signed July 2010 (just before Yar'Adua's death). AMCON absorbed ~₦5tn of non-performing loans from the banking system through ~₦3.6tn of bond issuance. Saved the post-2009-crisis banking system from collapse. Completed 2010 Aviation & Ports CAT-3 ILS installation — Lagos & Abuja airports Yar'Adua-era 2008-2010 installation of Category-3 Instrument Landing Systems at Lagos and Abuja — allows landings in heavy harmattan-season fog/dust (down to 50 ft decision height). Cut Dec-Jan diversions by ~90% at both hubs. Completed 2009 Major Reforms Niger Delta Amnesty Programme Proclaimed June 2009 under Section 175 of the Constitution. DDR framework (Disarmament, Demobilisation, Reintegration). Allowed subsequent oil-pipeline rehabilitation and production recovery. Completed 2009 Major Reforms ·₦620bn injection Banking Crisis Rescue (Sanusi era) CBN under Sanusi Lamido Sanusi rescued 8 distressed banks (Aug 2009) following stress tests revealing toxic loans. Sacked 5 CEOs, injected ₦620bn, created the framework that became AMCON. Completed 2009 Rail Rail concession review + CCECC contract restructure Yar'Adua-era review of the 2006 $8.3bn Lagos-Kano deal; scope split into phased SGR segments to make Chinese financing viable. The compromise unlocked Abuja-Kaduna SGR (started 2011) and shaped the modular approach later presidents used. Completed 2008 Major Reforms Infrastructure Concession Regulatory Commission (ICRC) Governing Board inaugurated 27 Nov 2008 to provide PPP framework. Underpins later PPP projects — 2nd Niger Bridge, Lekki-Epe Expressway, Lagos-Calabar Highway. Completed 2007 Major Reforms Federal Inland Revenue Service (Establishment) Act 2007 Separated FIRS from the Federal Civil Service and created an autonomous tax authority. Set the stage for the rapid non-oil revenue growth post-2010. Completed

2015 Major Reforms ·₦180bn+ disbursed Subsidy Reinvestment and Empowerment Programme (SURE-P) Launched January 2012 after the partial petrol subsidy removal that triggered the Occupy Nigeria protests. Channelled ₦180bn into roads (East-West dualisation), Almajiri schools, maternal health, and youth employment. Wound down 2015. Completed 2015 Education & Social ·₦15bn (estimated) Almajiri / Tsangaya Education Programme (~165 schools) Federally-built model schools across northern Nigeria integrating Quranic and Western education. ~165 model schools commissioned during the tenure. Completed 2015 Aviation & Ports Remodelling of 22 federal airports Terminal upgrades + new international terminals at Lagos, Abuja, Kano, Port Harcourt (the latter completed under Buhari). Cargo terminals at Abuja and Lagos. Completed 2015 Power & Energy ·~$8.6bn ·↳ began under Obasanjo National Integrated Power Project (NIPP) — 10 GenCos built Federal-government-built generation plants totalling ~5,455 MW installed capacity (Olorunsogo, Omotosho, Calabar, Geregu, Egbema, Alaoji, Ihovbor, Sapele, Gbarain, Benin). Operated by NDPHC. Completed 2014 Major Reforms Nigeria Industrial Revolution Plan (NIRP) 2014 Government strategy to grow manufacturing as a share of GDP from 4% (2014) to 10% by 2017. Focused on agro-allied, metals, oil & gas, construction. Established sector-specific industrial parks. Completed 2014 Aviation & Ports ·$500m 4-Airport Terminal Modernisation — contract framework (Lagos, Abuja, Kano, PH) $500m China EXIM-financed framework contract awarded Aug 2013 by Aviation Minister Stella Oduah to build new international terminals at Lagos, Abuja, Kano and Port Harcourt — plus four new cargo terminals. Ground-breaking 2014. Individual airports commissioned 2018-2022 under Buhari (see buhari-abuja-new-terminal-2018, buhari-lagos-new-terminal-2022, etc.). Completed 2014 Rail Itakpe-Warri SGR revival (Ajaokuta rail link) Reactivation of the abandoned 1987 327 km Itakpe-Ajaokuta-Warri line — fresh contract awarded 2013 to complete civil works started 26 years earlier. Trial runs began Sept 2012; line commissioned under Buhari (2020). Completed 2014 Rail ·$874m Abuja-Kaduna SGR construction commences Ground-breaking Feb 2011 on the 186 km Abuja-Kaduna standard-gauge — Nigeria's first new SGR build. $874m loan signed Aug 2012 from China EXIM Bank. Civil works under CCECC; rail-laying complete by 2014. Completed 2013 Rail ·$1.487bn (commercial contract) Lagos-Ibadan SGR contract award ($1.487bn) Aug 2012 contract with CCECC for the 156 km Lagos-Ibadan SGR — the second SGR segment of the 25-year plan. Loan signed 2017; construction ran 2017-2021 under Buhari; commissioned June 2021. Completed 2013 Power & Energy ·$2.53bn (asset sale) Power Sector Privatisation (PHCN unbundling) PHCN unbundled into 6 GenCos + 11 DisCos + 1 Transmission Company (TCN). Total sale: $2.53bn ($1.27bn GenCos, $1.26bn DisCos). 47,000+ PHCN staff paid severance. The most ambitious sector privatisation in Nigerian history. Completed 2012 Major Reforms 2012 Petrol Subsidy Removal (partial) January 1, 2012: petrol pump price jumped from ₦65/L to ₦141/L overnight. Triggered the Occupy Nigeria protests; partial reversal to ₦97/L on Jan 16. Set the precedent that successive governments avoided until Tinubu in 2023. Completed 2012 Major Reforms ·$1bn seed, $2.3bn+ AUM today Sovereign Wealth Fund Act 2011 — NSIA Created the Nigeria Sovereign Investment Authority with $1bn initial capital. Three ring-fenced funds: Stabilisation, Future Generations, Nigeria Infrastructure Fund. AUM grew to $2.3bn+ by 2023. Completed 2011 Telecom & Digital ·$257m NigComSat-1R replacement satellite Replacement for the failed NigComSat-1 (lost 2008). Launched December 2011 by China Great Wall. Still operational. Completed 2013 Power & Energy ·$1.3bn Zungeru Hydropower Project (700 MW) — construction commenced May 2013 ground-breaking on the 700 MW Zungeru Hydropower plant on the Kaduna River, Niger State. Single largest hydro project in Nigeria. Civil works ran through Buhari; commissioned 2024 under Tinubu (see tinubu-zungeru-2024). Under way 2012 Power & Energy ·$5.79bn Mambilla Hydropower Project (3,050 MW) — re-awarded The 3,050 MW Mambilla hydro (Taraba State) was re-awarded in 2012 to CGGC/Sinohydro under a $5.79bn engineering contract. Still subject to dispute and not yet built — but the Jonathan-era re-award remains the live contractual basis. Under way 2006 Roads & Bridges ·₦1.06tn (estimated) East-West Road dualisation (Niger Delta) 657 km Calabar-Itu-Eket-Port Harcourt-Warri-Lagos corridor. Major dualisation work executed under Jonathan; sections still being completed under successors. Under way

2023 Major Reforms ·~104m enrolled National ID Number (NIN) — SIM linkage drive Mandatory NIN-to-SIM linkage from Dec 2020 drove the enrolment base from ~42m to ~104m people by 2023. Foundation for KYC across banking, telecom, government services. Completed 2023 Roads & Bridges ·₦742bn (Sukuk total) Sukuk-funded road network Five Sukuk bond issuances (2017, 2018, 2020, 2021, 2022) raised ~₦742bn to construct/reconstruct 71 federal roads totalling ~4,000 km across all 6 geopolitical zones. Completed 2023 Education & Social ·₦500bn+ disbursed National Social Investment Programmes (NSIP) 4-pillar programme (2016): N-Power (graduate jobs for 1m beneficiaries), Conditional Cash Transfer (₦5,000/month to poor households), Home-Grown School Feeding Programme (9.5m pupils fed daily), TraderMoni / GEEP (1m+ micro-loans). Largest African social-safety net by reach. Completed 2023 Roads & Bridges ·$1.5bn (PPP) Lekki Deep Sea Port — commissioned 2023 Nigeria's first deep-sea port. PPP with China Harbour Engineering Co + Tolaram Group. 16.5m draft accommodates Panamax/Post-Panamax ships. Commissioned Jan 2023, operational mid-2023. Completed 2023 Major Reforms ·₦1.07tn disbursed Anchor Borrowers' Programme (rice + agro lending) CBN programme launched November 2015 — single-digit-rate loans to smallholder farmers via anchor companies. Disbursed ₦1.07tn to 4.5m farmers across rice, maize, wheat, cotton, cassava. Made Nigeria the largest rice producer in Africa. Completed 2023 Roads & Bridges ·₦336bn ·↳ began under Jonathan Second Niger Bridge (1.6 km main + 10.3 km approach) Decades-old project finally delivered. Financed via Presidential Infrastructure Development Fund (PIDF). Commissioned May 2023 — opened just days before Buhari left office. Later named after Buhari. Completed 2023 Roads & Bridges ·₦310bn ·↳ began under Jonathan Lagos-Ibadan Expressway reconstruction (127 km) Major reconstruction of Nigeria's busiest highway corridor. Section II (Berger-Lotto, 44 km) commissioned March 2022; ~90% complete by end of Buhari tenure. Final 4 km near Lagos delayed by sub-soil replacement, finished under Tinubu (2024). Completed 2023 Oil & Gas ·$20bn (private) Dangote Refinery (650,000 bpd — world's largest single-train) Private refinery commissioned May 2023 in Lagos (Lekki Free Zone). Largest single-train refinery globally. Began processing in January 2024. Completed 2022 Telecom & Digital ·$273.6m per licence 5G spectrum auction (2021) NCC auctioned 3.5GHz 5G licences in December 2021. MTN + Mafab won at $273.6m each. Airtel later acquired a third licence (2022). First 5G commercial launch August 2022. Completed 2022 Aviation & Ports ·₦11bn Akanu Ibiam Intl Enugu — runway rebuild + reopening Aug 2022 reopening of Enugu airport after 12-month closure for runway reconstruction. ₦11bn rebuild to full international-flight standard; international flights resumed Sep 2023 (Ethiopian Airlines). Completed 2022 Major Reforms Finance Acts (2019, 2020, 2021, 2022) Annual omnibus tax bills modernised the Nigerian fiscal framework: VAT raised 5%→7.5%, small-business CIT exemption (<₦25m), digital-economy taxes, capital-gains reforms, tertiary-education tax band changes. Completed 2022 Aviation & Ports Murtala Muhammed Intl Lagos — new international terminal Mar 2022 commissioning of the new MMIA international terminal — 14m pax/yr capacity; 7 air-bridges. Built by CCECC under the same 2013 China EXIM framework as Abuja, Kano, Port Harcourt terminals (4-airport package). Completed 2022 Aviation & Ports Mallam Aminu Kano Intl — new international terminal Apr 2022 commissioning of the new Kano international terminal — 8m pax/yr capacity. Part of the 2013 China EXIM 4-airport package; serves Northern Nigeria + Hajj operations from Saudia. Completed 2021 Major Reforms eNaira — Central Bank Digital Currency Launched October 2021 by CBN. First African CBDC. Designed for retail + wholesale payments. Adoption underwhelming but the technical infrastructure was a first-mover regulatory framework that informed AfCFTA digital settlements. Completed 2021 Education & Social ·₦44bn raised CACOVID — private-sector COVID-19 response Coalition Against COVID-19 raised ₦44bn+ in private-sector donations (CBN, Aliko Dangote Foundation, MTN, Access Bank). Built 39 isolation centres + delivered medical supplies during 2020 lockdown. Completed 2021 Rail ·$1.5bn Lagos-Ibadan SGR commissioning June 2021 commercial commissioning of the 156 km double-track SGR between Apapa, Lagos and Moniya, Ibadan — including Apapa Port spur for container traffic. First Nigerian SGR with double-track and seaport connection. Completed 2021 Major Reforms Petroleum Industry Act (PIA) 2021 Signed Aug 2021 after 21 years of legislative delay. Restructured NNPC into NNPC Ltd (commercial), created NUPRC (upstream regulator) and NMDPRA (midstream/downstream regulator). Mandated 3% host-community fund + 30% NNPC frontier exploration fund. Completed 2020 Major Reforms African Continental Free Trade Area (AfCFTA) ratification Nigeria ratified AfCFTA in December 2020 (after 18 months of hesitation). Eliminates tariffs on 90% of goods across 54 African countries. Critical for non-oil export growth. Completed 2020 Major Reforms Economic Recovery & Growth Plan (ERGP) 2017–2020 Macroeconomic recovery plan after the 2016 recession. Targeted 7% GDP growth, single-digit inflation, $1bn export expansion. Foundation for the structural reforms later finalised under Tinubu. Completed 2020 Rail Itakpe-Warri Rail commissioning (Sept 2020) Sept 2020 commissioning of the 327 km Itakpe-Ajaokuta-Warri line — 33 years after construction began (1987). Nigeria's first standard-gauge line to enter commercial service end-to-end. Connects Warri port to Itakpe iron-ore mines. Completed 2020 Roads & Bridges ·₦35bn Loko-Oweto Bridge 2-km bridge across the River Benue, linking Nasarawa and Benue states. Commissioned 2020. Completed 2018 Aviation & Ports ·$500m Nnamdi Azikiwe Intl Abuja — new international terminal Dec 2018 commissioning of the new $500m Abuja international terminal — 15m pax/yr capacity (5× old terminal); 5 air-bridges, biometric immigration. Built by CCECC under $500m China EXIM loan signed 2013. Completed 2018 Aviation & Ports Port Harcourt Intl — new international terminal Oct 2018 commissioning of the new Port Harcourt international terminal — 7m pax/yr capacity. Completes the 2013 China EXIM 4-airport package (with Lagos, Abuja, Kano). Serves Niger Delta oil + business traffic. Completed 2017 Aviation & Ports ·₦5.8bn Nnamdi Azikiwe Intl Abuja — runway total rehabilitation (6-week closure) Mar-Apr 2017 — full closure of Abuja airport for 6 weeks for total runway rehabilitation; flights diverted to Kaduna. First Nigerian airport runway rebuilt to ICAO Code-F (A380-capable). Completed 19 days ahead of schedule. Completed 2016 Major Reforms ·₦527bn+ recovered Whistleblower Policy 2016 Federal Ministry of Finance policy promising 2.5–5% of recovered loot to whistleblowers. By 2019 had triggered ₦527bn+ in actual asset recoveries. Completed 2016 Major Reforms ·₦5tn+ revenue recovered Treasury Single Account (TSA) full implementation Buhari ordered (Aug 2015) all MDAs to remit revenue to a single CBN account, closing thousands of commercial-bank ledgers. Recovered ₦5tn+ of float capital. Eliminated idle cash sitting outside government oversight. Completed 2016 Rail ·$874m ·↳ began under Jonathan Abuja-Kaduna Rail commissioning First operational standard-gauge passenger line in Nigeria. Commissioned July 2016. 186 km, ~2 hr journey. Suspended briefly after the March 2022 attack; resumed December 2022. Completed 2021 Oil & Gas ·$2.9bn (combined) Port Harcourt / Warri / Kaduna refinery rehab contracts Maire Tecnimont (Italian) awarded $1.5bn contract for Port Harcourt; Saipem SPA awarded $1.4bn for Warri ($897m) + Kaduna ($586m). Phase 1 Port Harcourt operational restart Nov 2024 (under Tinubu). Under way 2021 Rail ·$1.96bn Kano–Maradi (Nigeria–Niger) Rail 284 km cross-border standard-gauge line connecting Kano to Maradi in Niger Republic. Flagged off Feb 2021. Strategic regional integration play. Construction continues; first ~30 km completed. Under way 2021 Rail ·$3.02bn Port Harcourt-Maiduguri Eastern Rail rehabilitation contract ($3.02bn) March 2021 award to CCECC to rehabilitate the 1,443 km PH-Aba-Enugu-Makurdi-Lafia-Maiduguri eastern narrow-gauge line. Includes Bonny deep-sea port spur. Largest single rail contract in Nigerian history; financing closed under Tinubu (2024). Under way 2020 Oil & Gas ·$2.59bn Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline (614 km) Largest gas pipeline project in West Africa. Flagged off June 2020. Designed to deliver 2 bcf/day for power + industrial use across northern Nigeria. Under way 2019 Power & Energy ·€1.6bn (Phase 1) Siemens Presidential Power Initiative German engineering partnership signed 2019 to expand grid from ~5,000 to 25,000 MW. Phase 1 (transformer + transmission upgrades) ongoing; Phase 1 delivered 10 substations + 30 transformers. Under way 2018 Roads & Bridges ·₦797bn Abuja-Kaduna-Zaria-Kano Expressway (375 km) Dualisation flagged under PIDF. Multi-section construction by Julius Berger, CCECC, Setraco. Still under construction. Under way 2017 Roads & Bridges ·₦200bn (NLNG-FGN co-funded) Bodo-Bonny Road and Bridges (Niger Delta) 38 km road + 6 bridges connecting Bonny Island (NLNG plant) to the mainland for the first time ever. Jointly funded by FGN + NLNG. Under way

2025 Major Reforms Tax Reform Acts (Nigeria Tax Act, Admin Act, JRB Act, NRSE Act) Four omnibus tax bills signed June 26, 2025. Raised PIT exemption floor to ₦800K/yr; restructured VAT-sharing formula; consolidated FIRS into Nigeria Revenue Service; created Joint Revenue Board; phased corporate tax cuts. Effective January 2026. Completed 2024 Major Reforms ·₦70,000/month New National Minimum Wage — ₦70,000/month Signed July 29, 2024 after months of negotiation with NLC/TUC. More than doubled the previous ₦30,000 floor set in 2019. Five-year review cycle. Completed 2024 Rail Port Harcourt-Aba narrow-gauge re-launch (Dec 2024) Dec 2024 reopening of the rehabilitated 84 km Port Harcourt-Aba commuter rail — first segment of the $3.02bn Eastern Rail to enter service. Daily commuter runs via 6 stations; capacity 4,000+ passengers/day. Completed 2024 Roads & Bridges Opebi-Mende-Maryland-Ojota Link Bridge (Lagos) Commissioned 2024. Eases traffic between major Lagos commercial hubs. Completed 2024 Oil & Gas ·↳ began under Buhari Port Harcourt Refinery Phase 1 restart (60,000 bpd) Old Port Harcourt refinery restarted operations November 2024 after years offline. ~60,000 bpd initial capacity. Warri restart announced December 2024. Completed 2024 Power & Energy ·$1.3bn ·↳ began under Jonathan Zungeru Hydropower Commissioning (700 MW) Commissioned February 2024 after a decade of construction. Adds 700 MW to the national grid, lifting installed hydro capacity by 35%. Largest hydropower project commissioned in Nigeria since Kainji 1968. Completed 2023 Major Reforms Petrol Subsidy Removal Announced in inaugural speech May 29, 2023. Pump price rose from ₦185/L → ₦617/L overnight; later ~₦1,000+/L. Saved an estimated ₦4tn/year in fiscal outflows but triggered cost-of-living shock. Completed 2023 Major Reforms Naira Floatation CBN unified multiple FX windows June 14, 2023. Naira depreciated from ~₦460/$1 to ₦750+/$1 immediately; later ₦1,500+/$1. Aimed at ending parallel-market dollar drain. Completed 2023 Power & Energy Electricity Act 2023 — state market rollout Signed June 9, 2023. Enables states to legislate, generate, transmit and distribute electricity. Triggered the launch of state electricity markets: Enugu (Jan 2024), Ekiti, Ondo, Imo, Edo, Lagos, Plateau, Oyo. Ends federal monopoly framework. Completed 2024 Roads & Bridges ·~$13bn total (estimated) Lagos-Calabar Coastal Highway (700 km) — Phase 1 Flagship project of the Renewed Hope Agenda. Will link 9 coastal states (Lagos, Ogun, Ondo, Delta, Edo, Bayelsa, Rivers, Akwa Ibom, Cross River). 30 km Phase 1 Section 1 commissioned May 2025. Financing: $747m (Sec 1) + $1.126bn (Sec 2) closed July & Dec 2025. Under way 2024 Roads & Bridges Sokoto-Badagry Super Highway Trans-Nigerian highway linking northwest (Sokoto) to southwest (Badagry, Lagos). ~64 km cleared, ~30 km sand-filled, 4 km double-lane concrete pavement laid as of late 2025. Under way 2024 Roads & Bridges Calabar-Abuja Super Highway East-west connectivity legacy road. Phase 1 in progress. Under way 2024 Roads & Bridges Akwanga-Jos-Bauchi-Gombe Road dualisation North-central / North-east connector. Dualisation under the Renewed Hope road network programme. Under way 2024 Major Reforms ·₦500bn intl tier Bank Recapitalisation 2024–2026 CBN circular March 2024 raised minimum capital: International ₦500bn, National ₦200bn, Regional ₦50bn, NIB ₦20bn. 24-month deadline (March 2026). Echoes Obasanjo-era 2005 consolidation but at 10× scale. Under way 2024 Oil & Gas Crude-Oil-for-Naira Deal with Dangote Refinery October 2024: NNPC supplies Dangote Refinery with crude oil priced in Naira (rather than USD). First settlement (~76,000 bpd) delivered November 2024. Reduces FX pressure + locks in domestic value chain. Under way 2024 Major Reforms North-East Development Commission (NEDC) — expanded mandate 2024 amendment expanded the NEDC scope + capitalisation to address infrastructure deficits, IDP returnee resettlement, and economic revival in the six North-East states recovering from Boko Haram conflict. Under way 2024 Roads & Bridges Renewed Hope Cities (housing programme) Federal Ministry of Housing programme — 50,000 housing units across major cities (Lagos, Abuja, Kano, Karsana). PPP-financed. First Karsana batch handed over 2024. Under way 2024 Roads & Bridges CNG-powered student/transport bus rollout (5,500+ buses) Tinubu-era post-subsidy palliative — 5,500+ CNG buses procured for inter/intra-state transport via Pi-CNG + states. Eased commuter costs after the May 2023 petrol-price shock. Under way 2024 Aviation & Ports Lagos / Anambra dry-port + cargo-terminal upgrades Tinubu-era 2024 push to operationalise cargo terminals at Lagos (MMIA cargo apron), Abuja, Kano, and Anambra — designed to capture AfCFTA freight share. Customs cargo-clearing modernisation ran in parallel. Under way 2024 Aviation & Ports National MRO (Maintenance, Repair, Overhaul) Centre — Lagos Apr 2024 ground-breaking on Nigeria's first commercial-scale aircraft MRO at MMIA Lagos. Designed to keep ~$2bn/yr in MRO spend (currently flown out to Ethiopia/Egypt/UAE) inside Nigeria; partners include Ethiopian Airlines + Boeing/Airbus. Under way 2023 Oil & Gas ·$200m (Phase 1) Presidential CNG Initiative (Pi-CNG) Launched August 2023 to convert vehicles + roll out CNG stations after subsidy removal. Target: 1 million vehicles converted, 100+ CNG stations by 2027. Under way 2023 Education & Social Student Loan (Access to Higher Education) Act + NELFUND Signed June 12, 2023 (later amended April 2024). Created the Nigerian Education Loan Fund (NELFUND) offering interest-free tuition + upkeep loans to undergrad/HND students at federal/state institutions. Disbursements began May 2024. Under way 2023 Major Reforms ·₦6.10tn collected (2024) Customs Reform — Adeniyi era Appointment of Bashir Adewale Adeniyi (June 2023) as CGC delivered record revenue: ₦3.20tn in 2023, ₦6.10tn in 2024 (90% YoY). Digitisation, single-window port, Time Release Studies. Revenue surge funded major federal road allocations. Under way 2023 Aviation & Ports Bilateral Air Services Agreements — 11 new BASAs (2023-2025) 11 new Bilateral Air Service Agreements signed since May 2023 (UAE, Saudi Arabia, Ethiopia, Qatar, Türkiye, Kenya, etc.) — restored Emirates Lagos/Abuja routes (suspended 2022). Lifted the dollar-trapped-funds embargo that had grounded foreign carrier revenue. Under way 2021 Rail ·$1.96bn Kano-Maradi cross-border SGR (284 km in Nigeria) — 90% completion May 2025 milestone — Kano-Maradi SGR civil works hit 90% on the Nigerian leg (284 km). $1.96bn project connects Kano to Maradi, Niger Republic — first cross-border standard-gauge between any two African states. CCECC + Mota-Engil. Under way