The Tinubu Administration: Economic Reforms and National Transformation “President Bola Ahmed Tinubu has introduced several key policies aimed at transforming Nigeria’s economy and governance. Here are some of the most notable:

Compiled By:

Princess Dr Omolabake Kosoko-King
4+4 for our President

Fuel Subsidy Removal – One of Tinubu’s first major decisions was eliminating fuel subsidies, which had long strained Nigeria’s finances. While this led to an increase in fuel prices, it also freed up funds for infrastructure and social programs.

Exchange Rate Unification – His administration ended multiple exchange rates, creating a more market-driven system. This reform has increased foreign exchange inflows and improved transparency in currency transactions.

Nigeria First Policy –This policy mandates that government institutions prioritize locally made goods and services over foreign imports. It aims to boost domestic industries, strengthen the naira, and reduce Nigeria’s reliance on foreign products.

Student Loan Bill – Tinubu signed a bill establishing the Nigerian Education Loan Fund (NELFUND), providing financial aid to students pursuing higher education.

National Anthem Act 2024 – He reinstated Nigeria’s old national anthem, “Nigeria, We Hail Thee,” which was originally used until 1978.

Regional Development Commissions – Tinubu signed bills creating development commissions for the South-East and North-West regions to promote economic growth and infrastructure development.

Minimum Wage Increase – His administration raised the minimum wage from N30,000 to N70,000, responding to labor union demands and economic challenges.

Electricity Sector Reforms – The Electricity Act (Amendment) Bill introduced key reforms, including host community development initiatives and a new transmission system operator to improve power distribution.

Ban on Foreign Goods in Government Procurement – Tinubu’s government banned the purchase of foreign goods by ministries, departments, and agencies, aiming to boost local industries and reduce Nigeria’s import bill.

Judicial Salary Increase – He approved a 300% salary increase for judicial office holders to improve the efficiency and independence of Nigeria’s judiciary.

These policies reflect Tinubu’s focus on economic restructuring, governance reforms, and national development.

Compiled By:

Princess Dr Omolabake Kosoko-King
4+4 for our President