Mounting debts, fuel subsidy crisis: Mega burdens for new govt

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Mounting debts, fuel subsidy crisis: Mega burdens for new govt
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The socio-economic challenges before whoever becomes Nigeria’s next president are daunting but contenders for the coveted seat have yet to impress Nigerians with their manifestos, OKECHUKWU NNODIM writes

The President, Major General Muhammadu Buhari ; Minister of Finance, Budget and National Planning, Zainab AhmedThe socio-economic challenges before whoever becomes Nigeria’s next president are daunting but contenders for the coveted seat have yet to impress Nigerians with their manifestos,Currently confronted with humongous debts, insecurity, high subsidies on Premium Motor Spirit, popularly known as “petrol,” depreciation of the naira, and other stiff challenges in various sectors, the country...

The analysts also explained that the challenges confronting Nigeria were more deep-rooted than the solutions proffered in the manifestos of the presidential candidates. He added, “So, it takes more than a committed person to be able to change the narratives that we see currently in Nigeria. If you look at the situation in Nigeria, a lot of things have gone wrong, for instance, the issue of fuel subsidies. How do you tackle that, because it is multi-dimensional?

Nzekwe further pointed out that external shocks caused by the war in Ukraine were also negatively impacting Nigeria, adding that the crisis in the region had adversely affected the export of products that were required in Nigeria.

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