"Tinubu at the Helm of Economic Revival, Affirms SGF Akume"

 

 Nigeria's economy has been struggling for years, and President Bola Tinubu has made bold initial reforms to revive it.

 However, he faces a tough task to persuade investors and the public that his proposals will work. 

Tinubu has fired the head of Nigeria’s anti-corruption agency and the chief of its central bank, whom he blamed for leaving the country’s financial system “rotten.”

 The bank’s new leadership has a key demand of international backers. 

Tinubu has also listed some priority proposals, which he said, would revive the economy.

 These include increasing the country's tax base, reducing energy subsidies, and boosting oil production. Remaining on course will be crucial to restore investor confidence. 

Reforms will also need to be accelerated to remedy the many shortcomings of the Nigerian economy: 

currency shortfall, insufficient budgetary resources, inability to restore its oil production potential. 

Tinubu's moves have been welcomed by investors, and Nigerian stock prices have reached their highest valuation in 15 years. However, the question remains whether Nigeria, Africa’s most populous country, with 220 million people, will thrive or just get sicker from the bitter medicine dispensed by its new president.