Olomoro Telescope RejiG Series

Below are some pointers in the current economic realities we face. What are your thoughts?
1. President Bola Ahmed Tinubu (BAT) took over power only a few months ago
2. Buhari did not provide for fuel subsidy in the 2023 budget starting from June 1st as we have been informed. Meaning the agreement to remove fuel subsidy was already a precondition for BAT to ascend the Presidency.
3. There was nothing wrong with removal of fuel subsidy. The effects of not removing it could be worse in the future. The question we should be asking is what has been done by the Government with the money saved from subsidy. BAT said recently that we should ask our various state Governors.
4. Harmonizing the exchange rate was a smart move. The only problem is why harmonization was followed by the free-float policy which no previous government has ever adopted in Nigeria. The free-float policy is counter-productive. The answer might be that the country was already broke from bolstering the local currency. However, the government can still intervene to stop the bleeding of the naira.
5. We need government policy-makers to make quick adjustments before a gentle breeze gives rise to a tsunami or a vibration becomes an earthquake.
6. Nigerians should learn to consume made in Nigeria goods. Once we do, we will have less demand for forex and the economy will be better for all and sundry #Love #RejiG.