Tinubu reverses Buhari's policies on cryptocurrency, old Naira notes, and other key issues.

President Bola Tinubu, over the past six months, has been reversing several policies initiated by his predecessor, Muhammadu Buhari.

Despite both being members of the same political party, there are stark differences between Tinubu and Buhari, particularly in terms of economic policy. Tinubu, a former Governor of Lagos State, leans towards a more liberal economic stance, while Buhari, a former military leader, tends to be more protectionist. They had previously joined forces in 2013 against former President Goodluck Jonathan.

During the eight years preceding his emergence, Tinubu mostly remained silent on government policies, only speaking out when a policy seemed directed at him during elections. One notable disagreement occurred regarding the Naira redesigning policy.

Since assuming office, Tinubu has been rolling back several policies implemented by former President Buhari. Here are the top six policy reversals:

Removing ASUU from IPPIS: Tinubu addressed the long-standing dispute between university lecturers and the government over the implementation of the IPPIS platform, which led to frequent school shutdowns. Under Buhari, Nigerian universities faced 1,086 days of closure.
Ban on Cryptocurrency: Tinubu’s administration reversed the ban on cryptocurrency imposed by former CBN governor, Godwin Emefiele, signaling a departure from Buhari’s stance.
43 Items on FX Ban: Tinubu lifted the 8-year ban on 43 items restricted from accessing foreign exchange, a move that contrasts with the protectionist policies of the Buhari administration.
Phase Out of Old Naira: The redesigning of the Naira, initially controversial during the election period, faced resistance and legal challenges. However, Tinubu’s government announced an indefinite extension of the validity of the old currency in November.
40% IGR of Schools: Tinubu’s administration reversed the Finance Act of 2020, which mandated a 40% auto deduction of gross IGR from federal government-owned institutions. The universities pressured the government, leading to a change in implementation.

These policy shifts underscore the contrasting economic approaches between President Tinubu and his predecessor, President Buhari.