Six Positive Economic Reforms Under Tinubu’s Administration - The Nation - Politics

Six Positive Economic Reforms Under Tinubu’s Administration - The Nation - Politics - Nairaland

Nairaland Forum › Nairaland General › Politics › Six Positive Economic Reforms Under Tinubu’s Administration - The Nation (492 Views)

1 Reply (Go Down)

Six Positive Economic Reforms Under Tinubu’s Administration - The Nation by BeeBeeOoh(op): 7:43pm On Jul 31, 2024*

The President Bola Tinubu administration has implemented positive economic reforms which led to improvement in some key economic areas.

An infographic posted on X by Special Assistant to President Tinubu on Social Media, Dada Olusegun highlighted six parameters that have seen positive changes under President Tinubu.

Here are six positive economic reforms under President Tinubu’s administration:

1. Foreign reserves:

Nigeria’s external reserves increased to $35.77 billion from $33.09 Billion at the end of 2023, data from the Central Bank of Nigeria (CBN) on the country’s external reserves movement has revealed.

The figure released on Thursday signifies a $2.68 billion increase in the country’s external reserves in the past six months.

The data revealed that the country’s foreign reserve crossed the $35.05bn on July 8 to the $35.77 mark on Thursday.

2. Minimum Wage:

President Bola Tinubu on Thursday, July 18, approved N70,000 as the new minimum wage for Nigerian workers.

A significant increase from the 30,000 amount accepted by the federal government, led to the enactment of the National Minimum Wage Act 2019 in March 2019.

3. Debt to Revenue Ratio:

The Nigerian government recorded significant strides in its fiscal management, with a dramatic decline in debt service and a surge in non-oil revenue.

The minister of finance, Wale Edun, disclosed these positive developments during an assessment of the economy’s first-half performance.

According to the minister, the debt service ratio has plummeted from a staggering 97% in June 2023 to a more manageable 68% in 2024.

4. Oil production:

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said the country dominates crude oil production in Africa with an output of 1.61mbpd as of July 23, 2024, boasting proven reserves of 37.50 billion barrels and a production capacity of approximately 2.19 million barrels per day (mbpd).

The Commission’s Chief Executive, Engr. Gbenga Komolafe made this known at the House of Representatives Special Committee Two Day Public/Investigative Hearing on Oil Theft/Losses.

5. Forex backlog:

The Central Bank of Nigeria (CBN) on March 20, 2024, cleared the $7 billion foreign exchange (FX) backlog inherited by Governor Yemi Cardoso.

CBN Governor, Olayemi Cardoso said that it decided to settle the $7.5 billion forex backlog owed, to build investor confidence in the domestic economy and build lasting credibility for the country.

6. Ways and Means:

Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun noted that the government is not relying on ways and means of borrowing, which can be inflationary, and has paid back the previous N7.3 trillion obligation within a year of President Bola Tinubu’s administration.

Speaking at the newly introduced quarterly media briefing yesterday in Abuja, Edun highlighted that the economy grew faster in the first quarter of 2024 compared to 2023.

According to him, economic activity in the first quarter of 2024 was not only faster than the first quarter of 2023, but it was also the second fastest first-quarter growth in the last six years.

https://thenationonlineng.net/six-positive-economic-reforms-under-president-tinubus-administration/

Mynd44 Nlfpmod

2 Likes

Re: Six Positive Economic Reforms Under Tinubu’s Administration - The Nation by mrvitalis(m): 7:47pm On Jul 31, 2024

Anyone who can prove our debt service to revenue is 65% I would give them 1 million

Ways and means that tinubu wants to increase to 10% from 5% is what is said to have reduced?

4 Likes 1 Share

Re: Six Positive Economic Reforms Under Tinubu’s Administration - The Nation by Massiveglory: 7:49pm On Jul 31, 2024*

When you know you are writing rubbish that does not even make sense to you, but you choose to just write to make a big fool of yourself.

THUNDER FIRE the tinubu nation newspaper and writer these poo.

1 Like

Re: Six Positive Economic Reforms Under Tinubu’s Administration - The Nation by hisgrace090: 7:52pm On Jul 31, 2024

No way.

Re: Six Positive Economic Reforms Under Tinubu’s Administration - The Nation by CodeTemplar: 8:07pm On Jul 31, 2024

The gains are largely inaccessible to the people. Using scarce funds to build useless flyover and highways is only beneficial to the construction people and their casual workers.

Re: Six Positive Economic Reforms Under Tinubu’s Administration - The Nation by trutharena: 8:12pm On Jul 31, 2024

Nigerians are beginning to see the benefits of TINUBU's leadership; these reforms are a step in the right direction for our economy. It's about time we acknowledge the efforts being made to uplift our nation!

7 Likes

Re: Six Positive Economic Reforms Under Tinubu’s Administration - The Nation by Kukutente23: 8:15pm On Jul 31, 2024

Lol. Tissue of lies
It seems APC still thinks we're in 2015
Imagine comparing 2023BT with 2024AT

Re: Six Positive Economic Reforms Under Tinubu’s Administration - The Nation by lionshare: 8:28pm On Jul 31, 2024

mrvitalis:
Anyone who can prove our debt service to revenue is 65% I would give them 1 million

Ways and means that tinubu wants to increase to 10% from 5% is what is said to have reduced?

https://nairametrics.com/2024/07/26/fgs-revenue-to-debt-service-ratio-dropped-from-97-to-68-in-2024-wale-edun/?amp=1

1 Like

Re: Six Positive Economic Reforms Under Tinubu’s Administration - The Nation by commoditiesnig(m): 8:33pm On Jul 31, 2024

Good. We look forward to further positive policies that will benefit Nigerians .

Re: Six Positive Economic Reforms Under Tinubu’s Administration - The Nation by mrvitalis(m): 8:56pm On Jul 31, 2024

lionshare:
https://nairametrics.com/2024/07/26/fgs-revenue-to-debt-service-ratio-dropped-from-97-to-68-in-2024-wale-edun/?amp=1

You are quoting FG

1 Like 1 Share

Re: Six Positive Economic Reforms Under Tinubu’s Administration - The Nation by Salewa97: 8:56pm On Jul 31, 2024

Na wa o!

If you no dey see the changes wey Tinubu dey bring, you must be living under a rock.

From foreign investments to infrastructural development, this man dey show say he get the vision to push Nigeria forward.

All those who dey criticize, make dem open their eyes, because the progress dey clear for ground.

Na only palliative and handouts dem sabi, but Tinubu dey work on solid reforms wey go benefit us long term.

Abeg, make we support am as e dey try reshape our economy for better.

4 Likes

Re: Six Positive Economic Reforms Under Tinubu’s Administration - The Nation by sIfioksq: 8:56pm On Jul 31, 2024

Finally, some good news! Tinubu is really trying to turn things around for our economy. The reforms are long overdue and it’s about time we see some positive changes. Let’s keep supporting him to ensure these initiatives succeed!

6 Likes

Re: Six Positive Economic Reforms Under Tinubu’s Administration - The Nation by MasterJayJay: 9:02pm On Jul 31, 2024

Nation newspaper is owned by Tinubu.

Idiots!! How is 70,000 minimum wage a positive thing, when it can't buy 1 bag of rice?

Minimum wage of 30,000 naira under Buhari can buy more liters of petrol than the current 70k minimum wage.

1 Like

Re: Six Positive Economic Reforms Under Tinubu’s Administration - The Nation by Brendaniel: 9:03pm On Jul 31, 2024*

What is the outcome of all these policies ?

Did it improve Nigeria or made Nigeria worse?

Re: Six Positive Economic Reforms Under Tinubu’s Administration - The Nation by Chinkoalhaji34: 9:11pm On Jul 31, 2024

Toh

Dem say change no easy, but see as Tinubu dey push am. These reforms go help the economy breathe small, make we no dey depend on oil alone. Na so progress dey start, even if e no fit please everybody. Time go tell how far we go go with this new direction.

5 Likes

Re: Six Positive Economic Reforms Under Tinubu’s Administration - The Nation by Racoon(m): 9:28pm On Jul 31, 2024

A gamut of shitty lies and propaganda that has no bearing with the physical reality of life under a well known drug baron and certificate forging disaster of a man being whitewashed by asslickers.

Re: Six Positive Economic Reforms Under Tinubu’s Administration - The Nation by Racoon(m): 9:32pm On Jul 31, 2024

Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun noted that the government is not relying on ways and means of borrowing, which can be inflationary...

Same ways and means of borrowing they APC-led is struggling to rubberstamped from 5 to 10%? These idiots this is still the era of black and white TV.

Re: Six Positive Economic Reforms Under Tinubu’s Administration - The Nation by Medipharm: 9:54pm On Jul 31, 2024

If truly these are good economic reforms, they should reflect in the well being of the people. Then why are the people grumbling and shouting of hunger and hardship? Does it mean the people are lying or does it mean those figures up there are fake? The answer is right within you, I leave you to your answer.

Me: Any good policy must show in the livelihood of the people. Those reforms are nonsense. They lack substance. Our leaders lack qualities

Re: Six Positive Economic Reforms Under Tinubu’s Administration - The Nation by Kobojunkieee: 9:56pm On Jul 31, 2024

BeeBeeOoh:
https://thenationonlineng.net/six-positive-economic-reforms-under-president-tinubus-administration/

Audio government and its many audio improvements! 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣

Re: Six Positive Economic Reforms Under Tinubu’s Administration - The Nation by Ikaeniyan0: 9:58pm On Jul 31, 2024

mrvitalis:
You are quoting FG

Can you prove our debt service to revenue is not 65%?

Re: Six Positive Economic Reforms Under Tinubu’s Administration - The Nation by omohayek: 10:06pm On Jul 31, 2024

mrvitalis:
You are quoting FG

And where exactly is one supposed to obtain information on government expenditure, if not for the government itself? Or do you imagine the FG is like a private business that needs to submit annual reports which have been signed off by accountants? I don't know why you insist on repeatedly embarrassing yourself with such ignorant statements.

2 Likes

Re: Six Positive Economic Reforms Under Tinubu’s Administration - The Nation by nedu666: 10:09pm On Jul 31, 2024

Like buhari achievements, tinubu reforms are so big that we can't see them

Re: Six Positive Economic Reforms Under Tinubu’s Administration - The Nation by GreenxGreen: 10:40pm On Jul 31, 2024

The only achievements of this Shege government is........

1 Like

Re: Six Positive Economic Reforms Under Tinubu’s Administration - The Nation by Philipponzaghi: 10:53pm On Jul 31, 2024

This is what we need to see!

Tinubu is on the right track with these reforms. Finally, a leader who understands the economy and is taking actionable steps.

It's about time Nigeria moves forward instead of being stuck in the past.

Let’s support these changes and watch our nation flourish!

Re: Six Positive Economic Reforms Under Tinubu’s Administration - The Nation by lionshare: 1:33am On Aug 01, 2024

mrvitalis:
You are quoting FG

Which authority would you prefer I cite?

1 Reply

Tinubu's Administration, The Worst In Nigeria's History - Nasir El-Rufai • Atiku Deserves Credit For Economic Reforms Under Obasanjo, Says El-rufai • Osun Six Positive Coronavirus Patients Escape From Isolation Center • 2 • 3 • 4

Protest: Only Igbos Care About Tinubu In Nigeria • Meet Decline Rice (pics ) • Moment Military Man Address Protesters At Protest Ground