Economy: Not Yet Uhuru

Acting Vice President, Professor Yemi Osinbajo.

As the expectations and promises of May 29, 2015; when President Mohammadu Buhari was sworn in as President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria have significantly slowed down with most Nigerians now ghosts of themselves. No thanks to what concerned Nigerians consider as the many failed promises of the ruling All Progressive Congress, APC

By Shedrack Ifurueze

An air of obvious expectations for a better Nigeria of our vision was infectious with the APC as opposition then promising Nigerians illusive better life after 16 solid and long years of Peoples Democratic Party, PDP on the saddle. In the circumstances, Nigerians easily got captivated by the many attractive and inviting promises.

First on the agenda was the issue of fuel, the main artery of Nigeria’s economic activities where it was all over the public domain that the price was to be crashed from the then N86.50 to N40.00 per litre. Meanwhile, more than two years after, the scenario sadly presents that of wailing and gnashing of teeth by most Nigerians, courtesy of the technical recession as alluded to by the federal government in the first instance and later admittance of a full blown economic recession.

Without doubt, the single most discussed topic today among Nigerians of all creeds, ethnic and political divides remain. What is the present government doing to navigate the country out of this economic predicament? There are strong arguments that the administration’s economic team led by Acting President, Professor Yemi Osinbajo with minister of budget and national planning, senator Udoma Udo Udoma and minister of finance, Mrs. Kemi Adeosun, among others is yet to grasp the realities on ground thus failing to meet the expectations of Nigerians.

Experts do not mince words hinting that there are no visible and forward looking measures to convince Nigerians that existing or emerging government policies and programmes would get the economy out of the woods sooner than later. Without doubt, these Nigerians point to what they described as unstable and obvious lack of definitive economic policy direction by the present government since it came on board. To them, it has unfortunately been a blame game with the change mantra being mimicked by many as inflicting untold pains and hardship on the citizenry.

Similarly, another set of Nigerians also sees the fight against corruption as one that only gathers momentum on the pages of newspapers with no single high profiled case successfully prosecuted in more than two years of this government existence. Many finance experts have continued to flay the economic team’s apparent slow pace reaction to the economic challenges.

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