English>

Market News

Nigeria's Tinubu submits cabinet nominees to Senate - REUTERS

JULY 28, 2023

ABUJA, July 27 (Reuters) - Nigeria's President Bola Tinubu has submitted 28 nominees to cabinet positions to the Senate for approval, nearly two months after he was sworn into office and under pressure to quickly revive Africa's largest economy.

The list of nominees features political veterans but also includes Olawale Edun, a banker who advises Tinubu on monetary policy and Dele Alake, his communication adviser.

It did not say which portfolios would be assigned to the nominees. Edun, one of Tinubu's most trusted advisers and a member of his economic team that helped prepare his election manifesto, has long been tipped to become finance minister.

Tinubu won a disputed February election on promises to reboot the country's flagging economy, deal with a high debt burden, double-digit inflation and address widespread insecurity.

In his few days in office, Tinubu scrapped a decades-old petrol subsidy, suspended the central bank governor and freed up the exchange rate, to the delight of investors.

But the reforms have created pain for Nigerians grappling with a high cost of living and double-digit inflation in a country which is Africa's top oil producer.

Tinubu and his ministers have their work cut out for them, which includes dealing with the fall-out of the reforms.

Nigerian frontline doctors in public hospitals began an indefinite strike on Wednesday over grievances including demands for a pay rise. The main workers union has threatened to follow from next Wednesday.

Out of 28 nominated ministers, four are former state governors while others are veterans from Tinubu's party or political associates. A dozen could be classified as 'technocrats'.

With Tinubu's party majority in Senate, his cabinet picks are expected to be confirmed.

Tinubu said in a letter to the Senate that more names would be forwarded in due course.

Ali Pate, a former junior minister of health and ex-World Bank director also made the list.

Reporting by Camillus Eboh and Chijioke Ohuocha; Editing by Alexander Winning and Jonathan Oatis

SEE HOW MUCH YOU GET IF YOU SELL

NGN
This website uses cookies We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you've provided to them or that they've collected from your use of their services
Real Time Analytics