Faye moves to revive Senegal’s economy

According to a statement from his office, Senegalese President Bassirou Diomaye Faye gave his prime minister strict instructions on Tuesday to create a quick “action plan” to boost the faltering national economy and finances.

Despite never having held political office, the 44-year-old easily won an election last month on the platform of radical reform, making history as the youngest president of the nation.

The announcement following Faye’s first cabinet meeting stated that he gave Ousmane Sonko, his former mentor and prime minister, until the end of the month to draft a “action plan.”

It stated that he directed Sonko to “carry out a general review of programs and plans” and provide a report on public-private partnerships, international collaboration, and “the general situation of the public finances.”

He gave the government strict instructions to complete the plan by the end of the month and to “immediately implement a bold policy to relaunch the national economy, with the (Senegalese) private sector.”

He informed the ministers that his election was intended to bring about a “deep split” and a “revolution at every stage of the nation’s economic and social development.”

Senegal has a population of 18 million people, of which one in three live in poverty, while the country’s unemployment rate is over 20%.

The Covid pandemic and the aftermath of the war in Ukraine have also had a negative impact on its economy.

Inflation and debt are at an all-time high, and the last three years of political and social unrest have damaged investor confidence.

Sonko announced the cabinet on Friday and stated that the government’s top priority would be defending human rights, cutting living expenses, and providing jobs for young people.

Alex Obichie
Alex Obichie
Alex Obichie is an Ardent Sustainability Enthusiast, advocate for the Waste-2-Wealth Initiative, and Ingenious Politician, he uses articles to promote and sensitize the public about matters surrounding the environment, political systems and ways to benefit & support sustsinable global development.

Popular Related

Sanwo-Olu promotes former Chief Press Secretary to SA Media

Gboyega Akosile, the former chief press secretary of the CPS, has been appointed to the position of special adviser for media and publicity by...

Kano gov swears in seven new commissioners, six perm secs

The Kano State Governor, Abba Yusuf, on Monday, swore in seven new commissioners and six permanent secretaries as part of his administration’s renewed efforts...

FG to introduce three new national ID cards for 104m Nigerians

The Federal Government has announced plans to provide three distinct national identity cards for roughly 104 million residents as part of an ambitious overhaul...

Oyo plans fresh selection process for Alaafin

A new process for the selection of the Alaafin of Oyo has begun, following a series of crises and legal battles that have plagued...

Olubadan celebrate Ladoja at 80

Oba Owolabi Olakulehin, the Olubadan of Ibadan land, has felicitated Oba Rasheed Ladoja, the former Oyo State governor and the Otun Olubadan of Ibadanland,...

Ohaneze plans zoning of 2025 President-General Position to Rivers State

In its group election set for 2025, Ohanaeze Ndigbo, a pan-Igbo socio-political organization, made hints about zoning the President-General post to Rivers State. In order...

Supreme Court endorse use of Hijab in Lagos Schools 

Nigeria Supreme Court has approved the use of hijab by female Muslim students in Lagos State schools. "The court gave the judgment in an appeal...

My cows are easier to control than Nigerians – Buhari

President Muhammadu Buhari, on Sunday night said he cannot wait to fly back to his home in Daura, Katsina State, saying his cows are...

Pastor commits suicide after his adultery scandal was leaks on church group

Pastor Oscar Mukahanana of the United Methodist Church reportedly committed suicide after his adultery scandal was leaked on the church’s WhatsApp group. The deceased who was...

Tinubu says kidnappers will be labeled as terrorists

Declaring that his administration will label kidnappers as terrorists, President Bola Tinubu promises to "get rid of them." Following a recent wave of kidnappings around...