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President Bola Tinubu

All articles tagged with #president bola tinubu

economy1 year ago•4 min saved

"Nigeria's Economy Plunges as Government and Union Workers Unite in Nationwide Strike Over Soaring Inflation"

Nigeria is facing its worst economic crisis in decades, with annual inflation close to 30% and the cost of food rising by 35%. President Bola Tinubu's reforms, including ending the fuel subsidy and allowing the naira's value to plunge, have exacerbated the situation. The government has introduced measures to ease the suffering, such as establishing a board to regulate food prices and distributing grains, but these efforts have faced criticism. The economy's challenges have led to widespread hardship and protests by the Nigeria Labour Congress.

via BBC.com|

#economy #inflation #nigeria

conflictinvestigation2 years ago•1 min saved

"President of Nigeria demands probe into deadly drone strike that claims 85 civilian lives"

Nigeria's President Bola Tinubu has called for a thorough investigation into a military drone attack in Kaduna state that reportedly killed at least 85 civilians. The state emergency agency confirmed the death toll and stated that the search for victims is ongoing. Tinubu, attending the Cop28 Climate Summit in Dubai, expressed his concern and directed authorities to conduct a full-fledged investigation into the incident. The Nigerian Army has not commented on the attack, while the Air Force denied involvement. Nigeria's military has been conducting aerial assaults against Islamist insurgents and criminal gangs in various parts of the country.

via CNN|

#conflictinvestigation #drone-attack #investigation

economy2 years ago•3 min saved

Fitch Affirms Nigeria's Credit Rating, Raises Concerns Over Forex Loan

Fitch Ratings has affirmed Nigeria's 'B-' rating with a stable outlook, citing the ongoing reforms introduced by President Bola Tinubu's administration. The agency expects a partial recovery in oil production and projects moderate sovereign external debt service. The pace of reform progress has exceeded expectations, with the government eliminating fuel subsidies and streamlining exchange rate windows.

via Business Insider Africa|

#economy #fitch-ratings #nigeria

politics2 years ago•2 min saved

APC Dismisses Pastor Bakare's Criticism of Tinubu's Reforms

The new National Secretary of the All Progressives Congress (APC), Senator Ajibola Basiru, has criticized Pastor Tunde Bakare, stating that he is not competent to speak on President Bola Tinubu's reforms, particularly regarding the controversial fuel subsidy removal. Basiru argued that Bakare lacks the necessary knowledge and expertise to comment on these issues, emphasizing that being a Nigerian citizen does not automatically grant one the right to make criticisms. He further stated that the APC government is focused on addressing the country's economic challenges beyond just providing palliatives.

via Punch Newspapers|

#apc #fuel-subsidy-removal #pastor-tunde-bakare

economics2 years ago•2 min saved

"Nigerian Leader Implements Economic Measures Amidst Looming Union Protests"

Nigerian President Bola Tinubu has announced economic measures to alleviate the growing hardship in the country, as labor unions threaten protests demanding more action. The government's decision to end gasoline subsidies has led to a sharp increase in gas prices, causing a spike in the cost of essential commodities. Tinubu acknowledged the government's slow response and promised incentives and credit facilities for businesses. The measures include providing credit to manufacturing companies, grants and loans to small businesses, releasing grains to stabilize food prices, and investing in agriculture. Labor unions are demanding improved social welfare programs, as many Nigerians struggle with inflation and poverty rates.

via The Associated Press|

#economic-measures #economics #labor-unions

economy2 years ago•1 min saved

Tinubu's Fuel Subsidy Removal: Saving Billions and Fighting Economic Inequality

Nigeria's President Bola Tinubu announced that the country has saved over $1.32 billion in just over two months by scrapping the fuel subsidy and unifying its exchange rates. Tinubu defended the decision, stating that the subsidy only benefited a few elites and that the reforms would help boost the economy. However, labor unions are pressuring Tinubu to offer relief to households and small businesses, as prices soar following the reforms. The government has announced measures such as releasing grains to families, providing cheap loans, and setting up a fund from the subsidy savings to build infrastructure.

via Reuters|

#economy #fuel-subsidy #nigeria