Nigeria: President Tinubu, Pledges an Economic Revival.

0 56

At his inauguration on Monday, Nigeria’s new President Bola Tinubu pledged to develop the economy by at least 6% per year, lower investment barriers, generate jobs, and unify the currency, all while combating severe insecurity.

Tinubu takes over an economy in trouble, with record debt, foreign exchange and fuel shortages, a weak naira currency, nearly two-decades-high inflation, skeletal power supplies, and decreasing oil production due to crude theft and underinvestment.

Tinubu also inherits a divided country following his contested victory, which is being challenged in court by his primary opponents, who regard him as a member of the old guard. Tinubu, on the other hand, said that his election victory was just.

Tinubu stated that he will combat pervasive violence in Nigeria by overhauling the security agencies to make them more effective.  “On the economy, we target a higher GDP growth and to significantly reduce unemployment,” he said, adding that this would be achieved through budgetary reform, boosting power generation and improving food security.


Leave A Reply
%d bloggers like this: