Two weeks after President Bola Ahmed Tinubu was inaugurated, key decisions already taken by his administration are attracting applause from Nigerians. Tinubu was sworn-in on the 29th of May 2023, and since then, the President has made some unexpected decisions, including the removal of fuel subsidy, suspension of the Governor of the Central Bank of Nigeria, CBN. The Central Bank of Nigeria became the first to receive the stroke of Tinubu following the suspension of Godwin Emefiele over his abysmal handling of the country’s monetary system for the past nine years.
A similar treatment was given to Abdulrasheed Bawa, the suspended Chairman of the Economic and Financial Crime Commission, EFCC, over a weighty allegation of corruption. Many citizens are now becoming convinced about the President’s consciousness of the Nigerian situation by the way he speaks assuredly to these issues not as an aspirant but a sitting President. Some Nigerians are even of the opinion that some decisions that took the past administration years to come by or totally overlooked have been done within some few days or hours of the current administration. Some believe that Nigeria has unlocked successes due to the critical economic decisions taken so far.
These include fuel subsidy removal, the signing of the Electricity Act 2023, the data protection Act, the Student Loan Act, the unification of the foreign exchange market and others. There are also indications that President Bola Tinubu Policy Advisory Council has recommended that the Nigerian Customs Service, the Nigerian Maritime Administration and Safety Agency, NIMASA and the Federal Inland Revenue Service, FIRS, be merged. The council proposed the merger in order to enable an efficient collection of all direct and indirect taxes, as well as levies on behalf of the Federal Government.
Although some of the President’s plans and direction are still unclear, many Nigerians believe he is saying everything one would expect from a conscious president who truly wants to build the nation. However, this has implications for the prices of goods and services for Nigerians. Tinubu, during his Democracy Day broadcast, begged the citizenry to endure a little while Speaking on the impact of the students’ loan scheme, Prof Adigun Agbaje, former Deputy Vice Chancellor of University of Ibadan said the bill was a welcome development. According to him, Nigeria needs a government that is able to address the issues of the education sector holistically.
“This initiative is a step in the right decision. It’s a meaningful step and it tells the story that perhaps this government is going to take on critical issues from the previous government and make advances in terms of moving the country forward. “It is a welcome development, there will always be challenges but it will be tackled as it comes. This is a step in the right direction but can only make more impact when we begin to address the majority of the leakages in our economy,” he said on Arise TV. Here is how some Nigerians reacted to Tinubu’s economic decisions on social media @AyoBankole, “I must commend President Tinubu for quick decision-making.
@GoziconC, “With barely 11 days in Office, President Tinubu is already working like he’s been in Aso Rock for 4 years. “President Tinubu has met with Governors from 36 states, he has met with the Oil Marketers, he has sworn in the SGF, his Aides are up and running. “The Nigerian GDP is rapidly growing, our economy is gaining ground again. I swear we made the right choice.”
