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Ex-World Bank President David Malpass praises Tinubus policy decisions

Malpass says Tinubu has taken important steps to address currency instability, inflation and corruption in Nigeria.

The immediate-past President of the World Bank Group, David Malpass has commended President Bola Ahmed Tinubu for his policy decisions in the past three weeks.

Malpass shared his view about Tinubu’s three-week-old administration while commenting on a Financial Times’ report about the steps the president has taken so far.

The report titled “Economic overhaul raises hopes for Nigeria’s new leader” highlighted Tinubu’s policy decisions and the possible challenges his administration would face.

President Bola Tinubu [Presidency]
President Bola Tinubu [Presidency]

Sharing the report on Twitter on Wednesday, June 21, 2023, Malpass expressed delight over President Tinubu’s socio-economic policies, saying the president has taken important steps to address economic issues in Nigeria.

“Glad to see @officialABAT taking concrete steps to scrap Nigeria’s harmful government subsidies and multiple exchange rates. These are important steps toward currency stability, lower inflation, and reduced corruption in Africa’s most populous country”, Malpass tweeted.

Since he assumed office on Monday, May 29, 2023, President Tinubu has scrapped fuel subsidies and unified the exchange rate through the Central Bank of Nigeria.

The president has also signed into law, the Student Loan Act and Data Protection Act.

In addition, Tinubu’s aggressive start to his administration led to the removal of the Governor of the Central Bank of Nigeria (CBN), Godswill Emefiele and the Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa.

Before leaving the country for France to participate in the review and signing of a New Global Financial Pact, the president sacked all the Service Chiefs and announced their replacements immediately.

The President is expected to return to the country on Saturday, June 24, 2023.

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