Low-Key Celebration with Sectoral Briefings
To mark his first year in office, President Bola Tinubu has instructed his 47 ministers to present their performance reports to the public. The Minister of Information and National Orientation, Mohammed Idris, announced at a press briefing in Abuja on Wednesday that the first anniversary would be commemorated modestly, with sectoral media briefings starting on Thursday.
Idris was joined by the Secretary to the Government of the Federation, Senator George Akume, and the Minister of Budget and Economic Planning, Abubakar Bagudu.
Election and Performance Reviews
Tinubu, representing the All Progressives Congress, won the 2023 presidential election with 8.7 million votes, defeating Atiku Abubakar of the Peoples Democratic Party and Peter Obi of the Labour Party. At a cabinet retreat on November 1, 2023, Tinubu emphasized that ministerial positions would depend on quarterly performance reviews.
Assessment Process
On January 24, 2024, the Central Delivery Coordination Unit trained 140 officials to assess the performance of federal ministries, departments, and agencies. Hadiza Bala-Usman, the President's Special Adviser on Policy Coordination and head of the CDCU, reported in April that the unit had received performance reports from at least 20 of the 35 ministries. She noted that the assessment includes input from ministers, citizens, and industry experts.
Economic Reforms and Initiatives
The Tinubu administration has implemented various reforms to stabilize the economy, reduce inflation, and attract foreign investments. Key measures include:
- Ending the fuel subsidy, despite its impact on fuel and transportation costs, which led to food inflation.
- Allocating N200 billion to the agricultural sector to enhance productivity and food security.
- Supporting year-round farming through investments in irrigation.
- Providing N75 billion to support small and medium-sized enterprises.
- Launching a N100 billion consumer credit fund to boost the manufacturing sector.
- Starting a student loan scheme to improve access to education.
- Initiating a 100,000 renewable housing program to address the housing deficit.
- Purchasing compressed natural gas buses to reduce transportation costs and promote energy efficiency.
Security and International Recognition
The administration has significantly increased budget allocations for national security and supported the establishment of state police. Several reforms have been recognized by international agencies, including the Central Bank of Nigeria's efforts to unify multiple exchange rates into a single, transparent rate to address the forex crisis.
