Nigeria, March 2 -- When the World Bank recently described Nigeria as the poster economy for reform globally it came across as condescending. Responding to my concerns, a friend asked, "In which other economy has inflation been driven down as far and as quickly as it has since the Tinubu government came to power?" In truth, the annual rate of increases in domestic prices stood at 15.2 per cent in December last year, down from more than 34 per cent in the same month in 2024. But in Argentina, the economy's response to the Milei government's reforms was even more salutary. Annual inflation came in at 1.5 per cent in June last year, from 254.2 per cent in the first month of Milei's term.

Both governments deregulated prices. Enough, in Niger...