has shocked bookmakers with the huge and remarkable ground his solutionist administration has covered, showing unwavering commitment to fostering a conducive environment to long-term local and foreign investments.
Also, the president’s policies aim to mop up excess cash in circulation and tighten the money supply. By increasing lending rates, the administration seeks to discourage excessive borrowing that significantly drives inflation. The strategy is to channel excess liquidity into the recapitalisation of banks, thereby reducing inflationary pressures. This approach aligns with the broader objective of achieving economic stability and fostering a more sustainable financial ecosystem.
Findings revealed that total Value-Added Tax allocations to state governments from June 2023 to April 2024 stand at N2.032 trillion while the total VAT to the Federal Government from June 2023 to April 2024 is N663 billion. Total VAT allocation to local government councils from June 2023 to April 2024 is N1.368 trillion. It remains to be seen how this fiscal increment translates into incremental development at the grassroots where the bulk of our over 200 million population lives.
Furthermore, President Tinubu has shown a keen understanding of the need for educational reform to curb the emigration of skilled professionals. The establishment of the Nigerian Education Loan Fund and policies to increase admission spaces for critical courses are steps towards retaining talent within the country and enhancing the nation’s intellectual capital.
As the nation moves forward, the first year of President Tinubu’s administration has made a headstart in a manner that makes headway and not just headlines. It has set a promising tone for the future. The combination of strategic economic policies, social initiatives, and a focus on infrastructure and security lays a strong foundation for continued progress.