The thinking around inflation has changed. Even the most capitalist of nations are taking what may be termed as ‘activist’ measures.
Despite what may now be termed a barrage of bitter pills – fuel price deregulation, naira floating, electricity price increases – and the attendant inflation spike, there needs to be a rejig of how we approach these issues. We must show that we can think for ourselves. And we could learn a lot from the US experience where they have crashed inflation to 4.0%, when others are struggling with orthodox and ineffective ideas.
We can even take things further. We can calibrate our response to the diverse challenges we have – high inflation, low productivity, low growth, infrastructure deficit, economic ossification – from a positive angle, as we will see shortly. We have a choice – to look at things from a dark, pessimistic angle, and remain low, unfulfilled, challenged, with no joy for as far as the eyes can see.
To raise $737 billion with an investment of $437 billion, thereby lowering deficit by over $300 billion.To lower inflation, invest in energy production, reduce healthcare costs.
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