Nigeria: President Tinubu’s economy, security test
NIGERIA'S new President Bola Tinubu vowed at his swearing-in to expand the economy by at least 6% a year, lift barriers to investment, create jobs and unify the exchange rate, while also tackling rampant insecurity. Tinubu inherits a struggling economy with record debt, shortages of foreign exchange and fuel, a weak naira currency, nearly two-decades-high inflation, skeletal power supplies and falling oil production due to crude theft and underinvestment. Protectionist policies and foreign currency interventions under predecessor Muhammadu Buhari spooked investors. "On the economy, we target a higher GDP growth and to significantly reduce unemployment," he said, adding that this…