Olusesan Oba
As President Bola Tinubu approaches his one-year mark in office on May 29, 2024, many Nigerians feel the pinch of economic challenges. However, despite these hurdles, the administration has made several notable strides. Here are ten trackable achievements:
1. Economic Reforms
– Implemented significant reforms to stabilize the economy, reduce inflation, and attract foreign investments.
– Ended the graft-ridden fuel subsidy regime.
2. Agricultural Sector Support
– Allocated N200 billion to boost agricultural productivity and ensure food security.
– Invested in irrigation and water bodies to promote year-round farming.
3. Support for SMEs
– Provided N75 billion to support small and medium-sized enterprises, fostering job creation and economic diversification.
4. Manufacturing Sector Mobilization
– Launched a N100 billion consumer credit fund to encourage production and enhance economic growth in the manufacturing sector.
5. Educational Access
– Introduced a student loan scheme to improve access to tertiary and vocational education, commencing operation on Friday.
6.Infrastructure Development
– Initiated a 100,000 renewable housing program across seven states to address the housing deficit and stimulate the construction sector.
7. Energy Efficiency and Transportation
– Directed the purchase of compressed natural gas buses to tackle high transportation costs and promote energy efficiency.
8. National Security
– Allocated significant portions of the budget to national security and supported the clamour for state police.
9. Central Bank of Nigeria (CBN) Reforms
– Introduced measures to address the forex crisis, including unifying multiple exchange rates to create a single, transparent exchange rate.
– Implemented diaspora remittances and encouraged non-oil exports by providing exporters with rebates and facilitating their access to forex at competitive rates.
– Restricted access to forex for the importation of certain items that can be produced locally.
– Regularly intervened in the forex market by selling forex to banks through various auction mechanisms.
10. International Recognition
– Received recognition from international agencies and leaders for efforts to stabilize and grow the Nigerian economy.
