His Excellency Bola Ahmed Tinubu has been elected as the successor of President Muhammadu Buhari and on this note, this has geared so many reactions both on its citizens and the economy around the republic of Nigeria.
Nigerians are responding to Bola Ahmed’s that he deserves the victory to be Nigeria’s president. Ahmed is the national leader of the All Progressive Congress. While on the other hand, some others say APC doesn’t have plans for Nigeria.
Notwithstanding, some investors believe that the ruling-party candidate Bola Tinubu, who has gained an early lead in the nation’s presidential election results, will deliver changes to lift Africa’s largest economy out of a fiscal catastrophe, Nigerian bonds are registering some of the strongest gains in emerging markets.
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In a Bloomberg index of 71 emerging and frontier countries, five of the dollar-denominated securities of the West African country were among the top 10 performances on Monday. Monday was the biggest reduction in the nation’s sovereign risk premium this year, according to data from JPMorgan Chase & Co. Lagos’ equities benchmark reached an eight-month high.
On the other hand, his victory brought a smile to the Yoruba nation ‘Oduduwa’. They believe that since governance has returned to them the country will yet experience another new dimension.
The oduduwa nation believes strongly that Bola Ahmed Tinubu as the Nigerian president will bring an end to terrorism, kidnapping, and insecurity mostly, especially in the western region, and major infrastructure around this region will also emerge.
Nonetheless, he made the point that national security must come first to accomplish economic recovery, saying, “First, to achieve the economy we seek, we must handle the pressing security challenges. With terrorists and kidnappers around, no country can prosper.
Also, Tinubu has reaffirmed his people to tackle fiscal, monetary, and trade reforms as soon as he assumes office to successfully boost local production, reduce imported inflation, and improve macroeconomic stability by fostering inclusive growth and job creation across Nigeria.
The subsidy money won’t be “saved,” as that would signify its removal from the economy. Instead, the money will be invested in strengthening the social safety net for the most vulnerable people, public infrastructure, affordable housing, transit, education, and health, preventing increasing security risks.
However, a private sector-driven economy has been promised by Asiwaju Bola Tinubu to his people. In he made a fundamental conviction that the private sector must serve as the main engine of economic growth.
Conclusion
Tinubu’s victory has indeed brought a new season because people believe that he is bold enough to tackle all of Nigeria’s economic problems in his tenure and this cannot be determined because he is old and weak. With positive hope, it would be seen that Nigeria again will emerge as the giant of Africa in terms of economic perspectives.
