May 29 Inauguration: Tinubu to inherit insecurity, subsidy crisis, economic instability, others

In less than two months, precisely May 29, Bola Tinubu will be inaugurated as the President of the Federal Republic of Nigeria.

The incoming administration will be inheriting a lot of challenges that defied solutions under President Muhammadu Buhari’s tenure.

Nigeria has been riddled with lots of economic challenges ranging from high rates of loans, inflation, unemployment, poverty, among others.

A report by the United Nations, UN, had claimed that Nigeria’s economy under Buhari is worse than 10 years ago.

The UN, in its 2023 World Economic Situation and Prospects report published on its website, said high inflation and power supply issues are impacting growth in Nigeria.

In its flagship report titled ‘Global Economic prospect,’ the UN said: “The pandemic has reversed at least a decade of gains in per capita income in some countries— in almost a third of the region’s economies, including Angola, Nigeria, and South Africa, per capita incomes are forecast to be lower in 2022 than a decade ago.”