Tinubu’s Administration: One month thus far

The Bola Tinubu’s administration finished its first month in office on Thursday. An upheaval has occurred. Few Nigerians took Tinubu seriously when he said he would get started right away during the campaigns.

The president has undoubtedly gotten off to a fast start, as seen by the past month's events.

First, on the day of his inauguration, the president famously declared that "subsidy is gone." Fuel lines started to form again all throughout the nation as soon as the president said that. As can be predicted, the cost of fuel has skyrocketed, and the cost of products and services in the nation has also increased dramatically.

The president also claims to have stopped a financial hemorrhage by unifying the foreign exchange rate. When he removed petrol subsidies, Tinubu said that his decision was done with the best interests of the country in mind.

He has visited with various interest groups, including governors, traditional leaders, students, and oil marketers, to discuss the necessity to remove fuel subsidies and to lay out his administration's intentions.

Additionally, the president has begun suspending people. Godwin Emefiele, the governor of the Central Bank of Nigeria (CBN), and Abdulrasheed Bawa, the chairman of the Economic and Financial Crimes Commission, have both been suspended by him.

In addition, the president has given his approval for all Service Chiefs, the Inspector General of Police, and their successors to resign immediately.

The retired service chiefs are Lucky Irabor, Chief of Defence Staff; Farouk Yahaya, Chief of Army; Awwal Gambo, Chief of Naval; Isiaka Amao, Chief of Air; and Usman Alkali, Inspector General of Police.

Mallam Nuhu Ribadu has also been given the new appointment of National Security Advisor (NSA).

In order to better serve the public, the president has also given his approval for the immediate dissolution of the governing boards of all federal parastatals, agencies, institutions, and government-owned businesses.

The president traveled abroad for the first time to attend the meeting of the New Global Financial Pact in Paris, France. The goal of the two-day summit, which was sponsored by French President Emmanuel Macron, was to realign the world's financial system to aid less developed nations that are grappling with crippling debt, navigating energy transitions, and still feeling the effects of climate change and COVID-19.

He had a successful outing in France, where he met with French President Macron at the Elysée, President of Switzerland, Alain Berset, at Palais Brongniart, President of Benin Republic, Patrice Talon, Director-General of the World Trade Organization, Dr Ngozi Okonjo-Iweala, President of the African Development Bank, Dr Akinwunmi Adesina, President and Chairman of the Board of Directors of African Export-Import Bank (Afrexim), Prof. Benedict Oramah, and President of the European Bank for Reconstruction and Development (EBRD), Odile Renaud–Basso.

The President also visited with the Nigerian community in France and had discussions about aviation issues with Laurent Rahul Domergue, Senior Vice President of Airbus/ATR, Public Affairs.

After France, he made a private trip to London before heading back to Nigeria in time for the Eid al-Adha celebrations in Lagos. During a thank-you visit to the Royal Fathers, the president took advantage of the chance to expand his support base in the southwest by visiting with the Paramount ruler of Ijebuland, Oba Sik iru Adetona, in Ijebu-Ode, and the Alake of Egbaland, Oba Adedotun Gbadebo, in Abeokuta.

Vice President Kassim Shettima also visited his base in the north on a similar mission. He went to the Shehu of Borno and the Sultan of Sokoto to pay reverence for the Sallah.

Undoubtedly, this month has been exciting, and Nigerians hope that the effects of the removal of the fuel subsidy would be mitigated quickly by palliatives and an improving economy.

Overall, the Tinubu administration has made big adjustments and audacious moves in numerous industries in just 30 days. The economy as a whole and the cost of living have been directly affected by the removal of fuel subsidies and the unification of the foreign exchange rate. The administration's dedication to restructuring and reforming numerous institutions is demonstrated by the suspension of important officials, retirement and replacement of Service Chiefs and the Inspector-General of Police, as well as the dissolution of Governing Boards.

The administration has a monumental challenge ahead of it in fulfilling its pledges, particularly those related to fostering economic growth and providing palliative care. It is unclear how the administration will handle these problems and make sure that Nigerians do not bear the brunt of the increased costs as a result of the removal of the fuel subsidy.

In the next months, as the president's vision and policies take shape, Nigerians anxiously await the administration's next moves and expect for real improvements in their daily lives.