Low-hanging Fruits for Tinubu’s Economic Team - THISDAYLIVE
President Bola Tinubu's economic team faces the challenge of stabilizing the Nigerian economy and restoring investor confidence amidst a deep fiscal crisis and high debt burden.
Posted 8/27/2023, 2:43:03 AM
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The President Tinubu administration acknowledges inheriting a bad economy with high unemployment, but assures Nigerians that it will not rely on borrowing to fix the country and promises transparency and accountability.
Nigeria has secured nearly $14 billion in investment pledges from Indian investors and is seeking an economic cooperation pact with India, with commitments from companies such as Jindal Steel and Power and Indorama Corp, as President Bola Tinubu attends the G20 summit in New Delhi.
Summary: Nigerian President Bola Tinubu's efforts to revive the struggling Nigerian economy by removing fuel subsidies and overhauling exchange-rate policies have faced backlash from rising food and fuel costs, causing the economy to stumble.