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Showing posts with the label Fuel Subsidy

Paul Alaje: "Fuel Subsidy Wasn't Nigeria's Real Problem" | Breakfast Diary

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Last Thursday, we had a conversation on Breakfast Diary with Dr. Paul Alaje, Chief Economist and Partner at SPM Professionals, and one thing he said has stayed with me since: fuel subsidy wasn't Nigeria's real problem, it was a symptom of a deeper one. We were reacting to President Tinubu's Independence Day speech, in which the President pointed to delayed subsidy removal and exchange rate unification as some of the difficult decisions that had held Nigeria back for years. Dr. Alaje pushed back on that framing. In his view, the deeper issue is low productivity, and until Nigeria fixes that, cheaper petrol or a stable exchange rate alone won't deliver the prosperity we're being promised.  He made a strong case for reliable electricity, good roads and rail infrastructure as the real foundations for growth, and he was just as firm about the need for Nigeria to earn more from outside oil. I've shared the excerpt above. If it gets you thinking the way it got me think...

Two Years On: Breaking Down President Tinubu's Second Year Anniversary Speech

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As President Bola Tinubu marked two years in office, his administration highlighted the gains of reform. But do the numbers on paper reflect reality in the markets and homes of everyday Nigerians? This piece breaks down the president's claims and what the evidence shows . Understanding the Thematic Focus of Tinubu's Speeches As expected, May 29 marked two years of President Bola Tinubu in office, and we were treated to an anniversary speech. I personally like to look into the speeches of our leaders because, as the saying goes, "Out of the abundance of the heart, the mouth speaks." It gives me the opportunity to know what is going on in their minds and how they perceive things. To start with, I have come to appreciate the thematic structure President Tinubu's speeches have taken because it helps us to deal with one particular issue at a given time. This is different from the time of his predecessor, Muhammadu Buhari, when issues were lumped together in his speeche...