In spite of the hurry-scurry that its immediate policy prescriptions have generated across the economy over the past two weeks, it has been difficult to glimpse a pattern to or establish the destination of the Tinubu government’s policies. Partly, you could blame this on the sedate pace at which the new government has gone ahead […]
In spite of the hurry-scurry that its immediate policy prescriptions have generated across the economy over the past two weeks, it has been difficult to glimpse a pattern to or establish the destination of the Tinubu government’s policies. Partly, you could blame this on the sedate pace at which the new government has gone ahead to fill key political and public vacancies.
Inevitably, the hope was that the new federal government, with clear examples of the failures of dirigisme in its sails, will tilt to the right ― favouring, over the next 4 years, at least, market-based solutions to the sundry economic problems that the Nigerian economy has faced over the years. Partly, again, this expectation provides the context in which claims by supporters of Mr.
And it was not only the basics of economics that came off poorly in that address. I worry that neither the directions of interest rates nor the naira’s exchange rate lie within the president’s subject area. While we may have issues with how the apex bank has managed this levers of monetary policy up until now, surely it cannot be the Tinubu government’s intention to further blur the lines between fiscal and monetary policy management. The Buhari administration did more than enough damage there.
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