Immediate Past President of the Federal Republic of Nigeria, Muhammadu Buhari – GCFR has hailed his successor, President Bola Ahmed Tinubu – GCFR for not disappointing the populace since his ascension to the highest position in the land.
He applauded Tinubu for performing despite the current economic situation of the country.
According to the Former President, Nigeria is “too complex” and there is not much anyone could have done regarding the situation on ground.
Recall, minutes after his inauguration, President Tinubu declared that his administration would no longer follow the trend of subsidizing fuel, and proceeded to call for the end of the financing because it was in favor of neighbouring countries.
The decision skyrocketed the price of PMS from ₦185 left by Muhammadu Buhari-led administration to ₦600, and now between ₦645-₦700.
The naira hasn’t been left out as it has taken on a constant free fall against the dollar after the Central Bank of Nigeria floated the currency to align with market-determined rates.
The singular act has led to the regular instability of the naira to the dollar in the parallel and official market, with the country’s legal tender selling for between ₦1,400 and ₦2000.
However, the Presidency has promised Nigerians that the ongoing economic reforms will yield good results in no distant time.