Speaking at PwC’s Executive Summit in Lagos on Monday, July 21, Oyedele listed key improvements, including clearing over $7 billion in unmet forex obligations, boosting external reserves from below $4 billion to over $20 billion, and reducing budget deficits.
He noted that the country’s tax-to-GDP ratio has also grown to 13.5 per cent, up from under 10 per cent.
Oyedele warned that, without these reforms, Nigeria could have faced economic collapse like Venezuela or Zimbabwe.
He referenced a Zimbabwean banknote of 100 trillion dollars, which once bought just a loaf of bread, as an example of hyperinflation.
