In a recent report by the Sun, economic and financial experts outlined urgent measures for the Bola Tinubu administration to address the ongoing nationwide protests triggered by rising living costs and hunger. They emphasized the importance of subsidizing food costs, reducing governance expenses, and ensuring transparency in distributing palliatives to alleviate public discontent.
The protests, which began on Thursday, have rapidly escalated into violence, property destruction, and loss of life. Economist Aliyu Ilias stressed the need for President Tinubu to present a clear one-year plan and address the nation, proposing the introduction of Compressed Natural Gas (CNG) buses to reduce transportation costs. He also suggested a cabinet reshuffle, particularly in the Ministry of Humanitarian Affairs, and urged state governors to clarify their use of federal funds.
Prof. Femi Saibu from the University of Lagos criticized the mismanagement of palliatives, highlighting that resources often do not reach those in need due to political interference. He recommended focusing on infrastructure, healthcare, education, and agriculture investments as more effective alternatives to cash transfers to alleviate poverty.
Economic consultant Brume Nikoro advised the government to cut waste and support small-scale industries and startups with interest-free loans. He also advocated for targeted programs to boost the agriculture and technology sectors, aiming to create sustainable economic growth.
Lawyer and rights activist Kabiru Akingboolu called for a more civil approach to handling protests by the police and urged the government to take concrete actions to address economic difficulties. He emphasized the need for significant investment in agriculture to enhance food production and warned of the potential for escalating protests similar to the End SARS movement if issues are not addressed.
Northern elders, including Prof. Usman Yusuf, Hajia Najatu Muhammad, Mallam Salihu Lukman, and Dr. Umar Ardo, stressed the importance of engaging directly with youth leaders and protesters to understand their grievances. They recommended implementing meaningful reforms, investing in youth development, education, and entrepreneurship, and improving transparency and accountability in governance. Political and economic analyst Mustapha Hussain Olarewaju criticized the handling of fuel subsidies and inflation, advocating for stabilizing fuel prices and increasing government expenditure to stimulate economic activity rather than relying on high monetary policy rates….Seē _ Morē
