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Misplaced Economic Policy By Dr Kenny Odugbemi
You do not need to tell the deaf person that war has started, when war starts everybody will know because it is self-evident.
We are in a war of hunger, starvation, deprivation, and hopelessness, yet charlatans are talking about renewed hope for all this is deceitful, maybe it is only for the three tiers of government, not the public with a mystery index permeating all spheres of life.
Another Multinational corporation just like others is winding up citing the same reasons just like others, yet nothing is done, we only have propaganda of credit policies for SMEs, who have they given.
Find below the problem:
High cost of energy
Corruption
Toxic economic environment
High inflation
Insecurity
We can now see more why our GDP dropped to 2.98% apart from using our reserve to offset a forward contract of $7bn, our debt is far above N97.34trn this is at Dec 2023, adding Afriexin$3.3bn, World Bank $2.2bn will show our true status.
Misplaced priorities
Utility car@N160m for over 300 dysfunctional legislators, shrowded in the mystery of monumental corruption.
Refurbishment and building all in billion
Building 700km@N4b)km, we are going to spend N6trn in road good but not timely as the economy is in a wreck, comatose, quagmire.
I want to believe we should first salvage the economy.
We are spending trillions on an asymmetrical war of terrorism yet there is constant killing, raping, and maiming in the North every day overstressing our defense, how can we survive now if there is external aggression we have 48 underperforming Ministers, and only 5 are doing mild work, Aviation works, FCT, interior, and trade though there is no meaningful impact on the economy the rest are even more confused in their one-year media briefing, no impact only financial wreck across all the war of hunger, starvation, out-of-school children, joblessness, and terrorism across all regions that are secessionist is beating fast
Power.
The government must subsidize power for industrial sectors little wonder from the record that three tiers of governments have not been paying electricity consumption over decades
Suggestions all consumers residential must pay a reflective price.
We must explore sources at federal and subnational not later than immediately let us stop the craze of palliatives nothing is reaching the poor.
We only have media propaganda with spurious figures
We still have 20m students out of school mostly in the North.
IPoB in Southeast preventing students from sitting for Waec.
We have 151 communities in captivity just like Northeast and Northwest, yet a trillion is going and security votes are unaccountable
We need to restructure, recalibration reposition now.
Based on the list provided, here's a more balanced review:
Challenges:
1. Economic issues: FDI at an all-time low, high inflation, poverty, and unemployment.
2. Social and political issues: Bigotry, insecurity, corruption, and propaganda.
3. Cost of living and quality of life: High cost of transportation, school fees, electricity tariff, and petrol price.
Context:
1. Global economic downturn affecting FDI.
Mitigating factors:
1. Efforts to address economic issues, such as diversification and infrastructure development.
2. Social and political reforms aimed at addressing bigotry, insecurity, and corruption.
3. Initiatives to improve quality of life, like social welfare programs and education reform.
Public opinion:
While there are legitimate concerns and challenges, it's essential to consider the administration's efforts to address these issues. Public opinion may be negative, but it's crucial to acknowledge the complexities and nuances of the situation.
Rating: -40% (Negative, but with some positive efforts)
Breakdown:
- Economic issues: -60% (Negative)
- Social and political issues: -50% (Negative)
- Cost of living and quality of life: -55% (Negative)
- Overall satisfaction with the administration: -45% (Negative, but with some positive efforts)
Please note that this review aims to provide a more balanced perspective, considering both challenges and mitigating factors.
Challenges:
1. Economic issues: FDI at an all-time low, high inflation, poverty, and unemployment.
2. Social and political issues: Bigotry, insecurity, corruption, and propaganda.
3. Cost of living and quality of life: High cost of transportation, school fees, electricity tariff, and petrol price.
Context:
1. Global economic downturn affecting FDI.
2. Inflation and poverty rates were already high before the administration took office.
3. Security challenges are complex and deep-rooted.
4. Corruption is a long-standing issue in the country.
5. Propaganda is a common political tool.
3. Security challenges are complex and deep-rooted.
4. Corruption is a long-standing issue in the country.
5. Propaganda is a common political tool.
Mitigating factors:
1. Efforts to address economic issues, such as diversification and infrastructure development.
2. Social and political reforms aimed at addressing bigotry, insecurity, and corruption.
3. Initiatives to improve quality of life, like social welfare programs and education reform.
Public opinion:
While there are legitimate concerns and challenges, it's essential to consider the administration's efforts to address these issues. Public opinion may be negative, but it's crucial to acknowledge the complexities and nuances of the situation.
Rating: -40% (Negative, but with some positive efforts)
Breakdown:
- Economic issues: -60% (Negative)
- Social and political issues: -50% (Negative)
- Cost of living and quality of life: -55% (Negative)
- Overall satisfaction with the administration: -45% (Negative, but with some positive efforts)
Please note that this review aims to provide a more balanced perspective, considering both challenges and mitigating factors.