Tinubu’s reforms salvaging economy – IMPI

The Independent Media and Policy Initiative (IMPI), on Sunday, said the economic reforms of the President Bola Tinubu administration were based on a clear plan to salvage the economy.
Dr Omoniyi Akinsiju, Chairman of IMPI, in a statement, said years of populist macro-economic policies had sunk the country to a level that it had to change course or be doomed.
“We have observed with interest the criticisms that continue to trail the reforms implemented by President Bola Tinubu’s administration. Of particular interest are two opinions that gained some traction.
“One of the critics finds the reforms to be a: ‘wreckage of the past 15 months, from which the country is reeling.’
“The other viewpoint, an editorial, brands the ‘government as insensitive and strategy-deficient.’ It also sees the government as incompetent to perform its primary duty of delivering welfare and security to the people.’
“These attacks on the ongoing reforms are natural if viewed from the relatively narrow and subjective context of the steep change in the country’s cost of living,” said the group.
It said the reality of the nation’s current macroeconomic situation was a consequence of its past.
“When the premise and predicates of the nation’s economic trajectory are reviewed and aggregated, the apparent conclusion will be that we are where we are because this affliction of economic malaise at this point is predetermined.
“Since 1972, the Nigerian economy has been characterised by an unpredictable circle of bust and boom.
“In layperson’s terms, it means that one moment, we are deemed rich and able to buy whatever catches our fancy, and everybody, including the media, is happy. The next, we are flat broke.
“We lament the difficulties encountered in sating our basic needs, whining and criticising the government in power as the source of our decimated existence,” said IMPI.
IMPI cited similarities between Nigeria and Venezuela, another oil-rich country to drive home its position.(NAN)