Acknowledging the significant challenges and hardships currently faced by Nigerians, and emphasising the need for improved engagement between the administration of President Bola Ahmed Tinubu and the citizens, below is a summary of the key monthly achievements of President Tinubu from his inauguration on May 29, 2023, to May 2024:
May 2023
• Inauguration: President Tinubu was sworn in on May 29, 2023.
• Fuel Subsidy Removal: Immediately upon taking office, Tinubu removed the longstanding fuel subsidy to reallocate funds to critical sectors such as infrastructure and education
June 2023:
• Economic Council Inauguration: Established a new economic council to advise on policies and reforms
• Suspension of CBN Governor: Suspended Godwin Emefiele, the Governor of the Central Bank of Nigeria (CBN), due to various policy concerns
July 2023:
• Unification of Naira Exchange Rate: Floated the Nigerian naira to unify the multiple exchange rates and boost investor confidence
• Security Measures: Enhanced national security with new policies and increased funding for military and police
August 2023:
• Infrastructure Initiatives: Commenced significant projects, including the Lagos-Ibadan Motorway and the Second Niger Bridge
• Student Loan Program: Implemented a student loan scheme (NELFUND) to increase access to higher education
September 2023:
• Energy Sector Reforms: Signed the 2023 Electricity Act to decentralize the electricity sector, promoting competition and efficiency
• Agricultural Support: Launched programs to support farmers with fertilizers and mechanization
October 2023:
• Data Protection Law: Enacted the Nigeria Data Protection Law to safeguard personal information
• Healthcare Funding: Infused $2.5 billion into the primary healthcare system
November 2023:
• Social Investment Programs: Rolled out initiatives such as the Conditional Cash Transfer program to support vulnerable households.
• Renewable Energy Projects: Promoted the use of Compressed Natural Gas (CNG) as an alternative to petrol.
December 2023:
• Port Rehabilitation: Prioritized the rehabilitation of Nigeria’s seaports to boost trade.
• Youth Development: Implemented programs for youth and women empowerment.
January 2024:
• Tax Reforms: Established the Presidential Fiscal Policy and Tax Reforms Committee to streamline tax policies and improve the business environment. The committee aims to increase the tax-to-GDP ratio to 18% by 2026 by reducing the number of taxes from 260 to a single digit, removing burdensome taxes, and digitizing the collection process.
• Agricultural Development: Increased the budget allocation for agriculture significantly.
February 2024:
• National Security Enhancements: Deployed new aircraft and established the Mines Marshal Corps to secure mining sites.
• Employment Initiatives: Launched a plan to recruit 30,000 new personnel annually into the Nigeria Police Force.
• Renewed Hope Cities: President Bola Tinubu launched the groundbreaking ceremony for the construction of 3,112 housing units in Karsana District, Abuja, as part of the Renewed Hope Cities and Estates Programme. This initiative aims to provide affordable and decent housing to Nigerians and is expected to create significant job opportunities, with an estimated 500,000 direct and indirect jobs from the 20,000 housing units planned for the Federal Capital Territory alone
March 2024:
• Economic Growth Plan: Implemented the Economic Recovery and Growth Plan (ERGP) to stimulate various sectors, including manufacturing and technology
• Judicial Reforms: Supported the National Justice Reform Policy for judicial independence and efficiency
April 2024:
• Consumer Credit Scheme: Launched the first phase of the Consumer Credit Scheme aimed at empowering Nigerians to improve their quality of life through access to goods and services such as homes, vehicles, education, and healthcare. The scheme, managed by the Nigerian Consumer Credit Corporation (CREDICORP), promotes responsible consumer credit, strengthens Nigeria’s credit reporting systems, and offers credit guarantees to financial institutions
• Foreign Direct Investment: Actively pursued and secured commitments for over $30 billion in foreign investments
• National Infrastructure Fund: Approved the Renewed Hope Infrastructure Fund to address the $25 billion annual infrastructure funding gap
May 2024:
• Lagos-Calabar Coastal Highway: On May 25, 2024, President Tinubu inaugurated the 700 km Lagos-Calabar Coastal Highway, a significant infrastructure project designed to connect Lagos to Cross River, passing through multiple states, and expected to create numerous job opportunities and boost economic activities.
• Comprehensive Security Strategy: Continued efforts to improve security, resulting in the release of hostages and the neutralization of threats.
• Poverty Alleviation Programs: Implemented various programs aimed at reducing poverty and supporting small businesses.
These achievements reflect a broad agenda focusing on economic reform, security, infrastructure, and social welfare under President Tinubu’s Renewed Hope administration.
This list is not exhaustive. Please feel free to contribute any additional information regarding the achievements of President Bola Ahmed Tinubu.
Henry Balogun
Publisher, HB Report
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