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Reuters
Reuters
Politics
By Felix Onuah and MacDonald Dzirutwe

Nigeria's new President Tinubu promises economic reboot

FILE PHOTO: Presidential candidate Bola Ahmed Tinubu arrives with his wife Oluremi Tinubu at a polling station before casting his ballot in Ikeja, Lagos, Nigeria February 25, 2023. REUTERS/James Oatway

Nigeria's new President Bola Tinubu vowed at his swearing-in on Monday 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.

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