President Bola Tinubu is set to implement additional “difficult” reforms to reshape Nigeria’s economy, according to Information Minister, Mohammed Idris.
Idris mentioned that despite ongoing economic challenges, Tinubu remained committed to his campaign promises, having already removed fuel subsidies, floated the naira, and introduced other reforms.
In a recent article, the Minister praised Tinubu’s economic policies, including changes to the tax code and incentives for foreign investors in key industries.
However, the reforms have led to price increases, with fuel prices rising from N145 to N710 and the naira trading at N1,500 to the dollar.
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Food inflation has soared to 40 per cent with market surveys showing a 100 per cent increase in food prices, while the national minimum wage remains unchanged.
Experts and the International Monetary Fund have commended Tinubu’s economic policies, but critics argue that the reforms have exacerbated economic hardship and insecurity.
Amnesty International also condemned the government’s failure to protect citizens, citing frequent mass abductions and killings.
