President Bola Ahmed Tinubu is set to inaugurate the National Economic Council this Thursday, aiming to bolster economic sentiment and foster sustained growth within the nation.
Taking office a mere two weeks ago, Tinubu wasted no time in suspending Godwin Emefiele, the Governor of the Central Bank of Nigeria (CBN), pending investigations that subsequently led to Emefiele’s detainment.
The President’s decisive actions continued as he put an end to fuel subsidies, a long-standing issue that had plagued the economy with wasteful spending for decades.
Furthermore, he aligned the nation’s foreign exchange rates with the guidelines set forth by the International Monetary Fund (IMF) and the World Bank, fulfilling their request and signaling a commitment to financial stability.
Wednesday proved to be a day of continued transformations under President Tinubu’s leadership. Not only did he extend his suspension to the Economic and Financial Crimes Commission (EFCC), but he also suspended the commission’s Chairman, AbdulRasheed Bawa.
In a move aimed at empowering students, the new president recently enacted legislation to provide student loans.
Tinubu promised that the first installment of loans would be disbursed as early as October, emphasizing his dedication to advancing education and fostering a skilled workforce.
President Tinubu’s early actions demonstrate a commitment to economic stability, anti-corruption measures, and educational development within Nigeria, setting the stage for a transformative presidency.