REPOSITIONING NIGERIA’S ECONOMIC POLICIES UNDER THE TINUBU ADMINISTRATION TO CURB RISING INFLATION

Abstract

This study examined the repositioning of Nigeria‟s economic policies underthe Tinubu administration to curb rising inflation. Nigeria‟s economic policies since theinception of the Tinubu administration have focused on subsidy removal, naira floating andharmonization of foreign exchange. The start of a new administration is crucial to the amountof trust citizens and investors will have in a government. In many ways, Nigerians are worseoff than they were in 2023. This reality cuts across various sectors, the most jarring of whichis the dire economic state that Nigerians find themselves in just a year into a newadministration. The study argued that there is an urgent need to rejig economic policies underthe Tinubu administration to salvage the Nigerian economy from further dip into inflation.The study further argued that rising inflation has eroded economic gains made in the past. Toreposition the economy, this study posits that the Tinubu administration should organizerobust consultations. The present economic policies the president is implementing are neitherthe product of a deep understanding of the dynamics of international economic relations northe outcome of a conscious, consultative and collaborative effort involving Nigerianeconomic thinkers, business practitioners, employers and employees across the country. Thegovernment should consider all alternative actions and test them before introducing economicmeasures such as subsidy removal. They should have created a subsidized transport systemwhere public enterprises are provided to offer services to the people and not necessarily forprofit–making ventures. The government organized transport system is expected to befunctional. Introduce welfare packages. Welfarist policies are sine qua non to repositioningthe economic policies. Welfare packages must be considered when implementing economicreforms.