According to report, Economic and financial experts have outlined immediate actions the Bola Tinubu administration should take to address the ongoing nationwide protests. In discussions with Saturday Sun, they suggested measures such as subsidizing food costs, reducing governance expenses, and ensuring transparency in the distribution of palliatives.
The protests, which began on Thursday over rising living costs and hunger, have escalated into violence, property destruction, and loss of life across the country.
Aliyu Ilias, an economist and development expert, stressed the need for President Bola Tinubu to address the nation and present a clear one-year plan. He suggested focusing on the introduction of Compressed Natural Gas (CNG) buses to mitigate transportation costs if fuel subsidies cannot be reinstated. Ilias also recommended that Tinubu consider reshuffling his cabinet, including appointing a new Minister of Humanitarian Affairs, and ensuring that state governors clearly outline their use of federal funds.
Prof. Femi Saibu from the University of Lagos criticized the government's handling of palliatives, emphasizing that resources must reach those in need. Saibu noted that political intermediaries often divert aid intended for the public, exacerbating poverty despite government spending. He advocated for investment in infrastructure, healthcare, education, and agriculture as more effective alternatives to cash transfers.
Economic Consultant Brume Nikoro advised reducing government waste and supporting small-scale industries and startups with interest-free loans. He also recommended boosting agriculture and technology sectors through targeted programs.
Lawyer and rights activist Kabiru Akingboolu called for more civil handling of protests by the police and stressed the need for concrete government action to address economic difficulties and prevent further unrest. He suggested investing significantly in agriculture to improve food production and warned against the risk of escalating protests, referencing the #EndSARS movement.
Maduka Onwukeme, another rights activist, echoed the need for the government to address the core issues of hunger and inflation. He argued that effective measures to tackle these problems are crucial for reducing unrest and bringing many genuine protesters off the streets.
Northern elders, including Prof. Usman Yusuf, Hajia Najatu Muhammad, Mallam Salihu Lukman, and Dr. Umar Ardo, urged the government to engage 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 government's handling of fuel subsidies and inflation. He highlighted that despite claims of subsidy removal, petrol costs remain high. Olarewaju argued for stabilizing fuel prices and increasing government expenditure to stimulate economic activity, rather than relying on high monetary policy rates, which he believes fail to address the root causes of inflation.
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