During a meeting called to address the Foreign Exchange crisis and economic downturn, Bola Tinubu failed to present concrete policy steps to tackle currency fluctuation and poverty.
Instead, he urged patience and time to continue developing his administration’s strategy. However, the writer disagrees, criticizing the Tinubu administration’s policies causing economic distress.
The writer proposed solutions during the previous administration, emphasizing reforming the foreign exchange market, eliminating multiple exchange rate windows, and adopting a managed-floating exchange rate system.
The critique highlights the government’s lack of foresight and independence for the Central Bank to design and implement effective FX policies.
The writer remains optimistic about the Nigerian economy’s recovery with sound counsel and addressing internal issues like corruption and poorly negotiated foreign loans.
