Might of economic modellers in Bretton Woods or plight of Naija sufferers 'in the woods'

It's not even a matter of some socio-economic indicators from National Bureau of Statistics or other sources. It's a matter of practical socio-economic realities staring us in the face and banging in our ears. Even the few who don't feel it much can see it and they can hear it.

It's the current socio-economic situation that has been hitting hard since the sudden removal of fuel #subsidy and floating of the Naira #exchangerate. Can you imagine the impoverishment of the current level of poverty if subsidy is also removed from electricity? We all know that difficult policies sometimes bring gains but, experientially speaking, the gains have always been squandered by unscrupulous opportunists.

These World Bank/IMF prescriptions, which have come under different 'beautiful' names in the past, such as the Structural Adjustment Programme (SAP) and the Second-Tier Foreign Exchange Market (SFEM) of 1986, have never worked for us. They're currently not working and, considering the menace of #corruption and mismanagement of the very little palliatives by public officials, I don't think they will ever work.

I believe Mr. President, state governors, and other leaders mean well in trying to bring a new socio-economic lease of life to the people and the least we can do as patriotic citizens is to strengthen them with technical, moral, and prayer supports.

This Bola Ahmed Tinubu's government has demonstrated more than once that it is a listening government by reversing policies that didn't go down well with the people. We believe that it is the same listening government that we're dealing with and that the government still has the strength of will and character to reverse these policies that have brought unintended untold hardship to the populace. We equally believe that, by the time the policies are courageously reversed, individuals and businesses that have been hiding and profiteering behind the needle of fuel and dollar will have no place to hide.

I am without doubt a friend of the government who wants the government, democracy, and Nigeria to be enviable success stories. And they really can be. But, as it has always been, especially in our contemporary times, governments at all levels are still full of 'repairers' who bring their society to a state of disrepair. Our leaders have an urgent duty of purging some of their current political and bureaucratic appointees and henceforth beaming their lights on who they appoint into public positions. This is an important success factor.

As far as the current socio-economic challenges are concerned, the success of this government will also depend on whether our leaders are sensitive to the might of economic modellers in Bretton Woods or the plight of Naija sufferers 'in the woods'.

Your Excellency sir, Asiwaju Jagaban, eyin lokan lati se'joba daradara. Olorun a fun un yin se.

Bolaji Oladejo

#inflation #world bank #IMF