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Significance
This period was marked by two dramatic policy moves: the removal of a costly fuel subsidy and a major devaluation of the naira. Both moves are crucial for reforming Nigeria’s economy, but also come with short-term costs and implementation challenges. Tinubu also inaugurated a cabinet of 47 ministers, Nigeria’s largest ever.
Impacts
Tinubu may push for an increase in electricity tariffs.
The removal of fuel subsidies and the unification of exchange rates will increase inflation in the short term.
Tinubu will struggle to develop a policy to deal with widespread insecurity.
Tinubu has likely not yet made a decision on whether to send troops into Niger in response to the coup there.
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2023
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