AN IN-DEPTH ASSESSMENT OF PRESIDENT AHMED BOLA TINUBU'S ECONOMIC POLICY FRAMEWORK

CHAPTER ONE INTRODUCTION 1.1 Background of the Study Nigeria, recognized as Africa’s most populous country and largest economy, has historically grappled with persistent economic challenges—ranging from elevated unemployment and widespread poverty to fluctuating oil prices and periods of economic recession. In response to these long-standing issues, successive administrations have introduced various economic policies aimed at stabilizing and revitalizing the nation’s economy. Since assuming office in 2023, President Ahmed Bola Tinubu’s economic policies have attracted widespread scrutiny and debate. These policies have sparked mixed reactions among economists, policymakers, and the general public, reflecting both curiosity and skepticism (Ogunro, 2024). Despite Nigeria’s abundant natural resources, the economy continues to struggle with entrenched problems such as inflation, unemployment, and poverty. To address these challenges and stimulate economic growth, President Tinubu’s administration has introduced several strategic initiatives. Since taking office, his administration has sought to reposition the Nigerian economy by promoting infrastructural development, reducing poverty, and accelerating national growth. However, despite these concerted efforts, questions remain regarding the efficacy and sustainability of these economic policies. President Tinubu’s intentions may not inherently be counterproductive, but ill-conceived or poorly implemented economic policies can produce unintended consequences. Rather than fostering growth and stability, such policies may inflict long-term harm on specific sectors, communities, or the broader economy. They can lead to increased inequality, stagnation in economic progress, and heightened social unrest. Among the economic programs associated with Tinubu’s government are the Economic Recovery and Growth Plan (ERGP), a comprehensive framework targeting economic diversification, infrastructure development, and renewed growth (Ugwueze, 2023); fiscal policy measures to regulate government expenditure and revenue for macroeconomic stability; and monetary policies enacted through the Central Bank of Nigeria (CBN) to manage inflation, interest rates, and exchange rates. Although these strategies were intended to revitalize the economy, their impact has remained debatable. Persistent economic challenges continue to cast doubt on the capacity of these policies to address Nigeria’s complex development needs effectively (Ogunro, 2024). The objective of this research is to critically assess the implementation and impact of these policies, identifying both their strengths and shortcomings in the broader context of Nigeria’s quest for sustainable development. This study will analyze the influence of President Tinubu’s economic policies on critical indicators such as inflation, unemployment, economic growth, and poverty alleviation. A SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis will also be employed to evaluate the strategic viability of these policies. 1.2 Statement of the Problem The Nigerian economy, traditionally reliant on oil and gas, has consistently faced numerous obstacles including volatile global markets, infrastructural decay, widespread poverty, governance deficiencies, and elevated unemployment levels. These persistent challenges have severely hindered long-term growth and national development. In response, President Ahmed Bola Tinubu introduced a series of economic reforms following his inauguration in 2023, aiming to address these structural issues. Among these were investment policy reforms, trade facilitation measures such as implementation of the African Continental Free Trade Area (AfCFTA) agreement, and incentives designed to attract both domestic and foreign investment. Central to Tinubu’s economic vision is the principle of diversification. Recognizing Nigeria’s overdependence on oil revenues, the administration has prioritized the development of other key sectors, including agriculture, manufacturing, and technology (National Bureau of Statistics, 2023). In parallel, significant emphasis has been placed on infrastructure development to stimulate economic activity. This includes enhancements in energy provision, digital connectivity, and transport infrastructure—all vital for enabling an investment-friendly environment (Federal Ministry of Works and Housing, 2023). In a bid to mitigate poverty and bridge the inequality gap, the administration has expanded several social investment programs. These include school feeding schemes, direct cash transfers, and support for small and medium-sized enterprises (SMEs) (National Social Investment Office, 2023). Attracting foreign capital has also been a core focus of the Tinubu administration’s economic strategy. By introducing regulatory reforms and offering incentives, efforts have been made to create a more conducive environment for foreign direct investment (Nigerian Investment Promotion Commission, 2023). Ultimately, the Tinubu administration seeks to reduce Nigeria’s dependence on oil, diversify economic outputs, improve public infrastructure, strengthen fiscal management, and enhance social welfare programs to promote inclusive growth. These policies represent a comprehensive approach to tackling Nigeria’s economic dilemmas and fostering sustainable development. Nevertheless, despite the scope and ambition of these reforms, the Nigerian economy continues to confront deep-rooted issues that have cast doubt on the effectiveness of the current policy direction. Concerns persist regarding the real impact of Tinubu’s strategies on measurable outcomes such as job creation, inflation control, poverty reduction, and macroeconomic stability. Therefore, this study seeks to critically evaluate President Ahmed Bola Tinubu’s core economic policies, assess their current implementation status, and explore their potential long-term implications for the Nigerian economy. 1.3 Objectives of the Study i.Evaluate President Ahmed B. Tinubu's numerous economic policies  ii.Evaluate how these economic policies have affected the development and expansion of Nigeria's economy. iii.Evaluate how much Nigeria's poverty, unemployment, and income inequality have been addressed by the programs.  iv.Examine the advantages and disadvantages of various economic strategies.  1.4 Research Questions i.What are the various economic policies of President Ahmed B Tinubu? ii.What are the impacts of these economic policies on Nigeria's economic growth and development? iii.To what extent has these policies been able to addressed poverty, unemployment, and income inequality in Nigeria? iv.What are the strengths and weaknesses of these economic policies? 1.5 Significance of the Study With its fresh viewpoints and insights, the study contributes to the body of knowledge already available on economic policy and development in Nigeria. Additionally, the report offers a thorough evaluation of President Tinubu's economic policies, stressing their advantages and outlining areas in need of development. This study will evaluate anti-corruption initiatives and governance reforms, highlighting areas where institutional efficiency and integrity have improved or require more support. The study gives an evaluation of president Tinubu’s numerous policies, and how these policies have affected the development and expansion of Nigerian economy. It intended that this study will give a fair evaluation on how poverty level, unemployment, and income inequality in the country have been addressed in the light running policies of President Tinubu. 1.6 Scope of the Study The focus of this study is based on An In-Depth Assessment of President Ahmed Bola Tinubu's Economic Policy Framework. This certainly makes for the chronical of the investigation. Nevertheless, the analysis considers elements that occur just before to the beginning and ending chronologies. The political and economic themes limited the researcher's options thematically. The researcher carefully adhered to the limits of the political and economic issue to avoid unwarranted digression, even though socioeconomic factors may have crept in a bit.  1.7 Limitations of the Study Numerous challenges the researcher faced during the investigation almost kept her from coming to a final conclusion. These challenges included a time limit that almost prevented the researcher from completing the study; furthermore, the expense of acquiring the tools and materials required for the investigation presented a serious risk to the research's success; and finally, the researcher encountered an unexpected delay in the delivery of information materials required for the investigation. The research ended later than anticipated as a result of this. 1.8 Research Methodology Given the characteristics of the study, it is clear that the researcher used qualitative methods to conduct the research, which makes the study qualitative in nature. However, historical research design was employed in the study. The researcher considered the time frame that may be considered continuing while evaluating this research in this regard. The researcher therefore had to rely on secondary source materials, which included newspapers, textbooks, journals, and much more. This research methodology was based on the resources available to the researcher at the time. therefore the researcher's task was to verify the information already in the public domain. 1.9 Definition of Terms Economic Policies: The phrase "economic policies" denotes the methods and choices made by governments to control and direct the economy in order to reach specified financial purposes.