Former World Bank President Applauds Tinubu’s Reforms: End of Fuel Subsidy and Dual Exchange Rates

Former World Bank President Applauds Tinubu’s Reforms: End of Fuel Subsidy and Dual Exchange Rates

…By Dorcas Funmi for TDPel Media. Former World Bank president, David Malpass, has praised President Bola Tinubu for his decision to abolish fuel subsidy and eliminate the dual exchange rates in Nigeria.

Advertisement

Malpass believes that these measures will contribute to reducing corruption in the country.

Concrete Steps Towards Economic Stability and Reduced Corruption

In a tweet, Malpass shared a Financial Times article on the actions taken by Tinubu’s government and emphasized the negative impact of the fuel subsidy regime and dual exchange rates on the Nigerian economy.

He expressed his satisfaction with the steps being taken, which he sees as crucial for achieving currency stability, lower inflation, and reduced corruption in Africa’s most populous country.

Advertisement

PEPC Concludes Hearing on APM Petition Against Tinubu

In a separate development, the Presidential Election Petition Court (PEPC) wrapped up the hearing on the petition filed by the Allied Peoples Movement (APM) against Tinubu and the All Progressives Congress (APC).

APM challenged Tinubu’s election due to concerns over the eligibility of his running mate, Kashim Shettima, who was allegedly involved in double nomination.

Petitioner Presents Witness and Closes Case

During the hearing, APM called one witness, Aisha Abubakar, who identified herself as the APM’s Assistant Welfare Officer.

The petitioner’s lawyer, G. O. Idiagbonya, had the witness adopt her written statements on oath and presented various documents through her.

Following the witness’s testimony, the petitioner’s case was officially closed.

Advertisement

Subtitle 5: Respondents Rely on Supreme Court Judgment and Withdrawal Notification

The respondents chose not to present their own evidence but instead relied on the Supreme Court judgment from May 26, which established that Shettima did not engage in double nomination.

They also submitted a letter dated June 12, 2022, notifying the Independent National Electoral Commission (INEC) of Shettima’s withdrawal as an APC senatorial candidate for Borno Central Senatorial district.

Next Steps and Adjournment

After hearing from all the lawyers involved, Justice Haruna Tsammani, the chairman of the panel, instructed the respondents to file their final written addresses within 10 days.

The APM was given seven days from the respondents’ filing to submit their written address.

Advertisement

The hearing in the case was adjourned until July 14 for the adoption of written addresses.

Conclusion:

Former World Bank president David Malpass commended President Bola Tinubu’s decision to end fuel subsidy and eliminate the dual exchange rates in Nigeria, highlighting their potential to reduce corruption and foster economic stability.

In a separate development, the PEPC concluded the hearing on the APM petition against Tinubu, with the petitioner presenting their case and the respondents relying on the Supreme Court judgment and withdrawal notification.

The court proceedings will continue with the submission of written addresses in July.

Advertisement

Read More On The Topic On TDPel Media

Advertisement

TDPel Media

This article was published on TDPel Media. Thanks for reading!

Share on Facebook «||» Share on Twitter «||» Share on Reddit «||» Share on LinkedIn

Advertisement
Advertisement: Download Vital Signs App (VS App)