Living In Denial With Loans And Unimplemented Budgets

 By Adekunle Adekoya

On October 1, the President made a broadcast to the nation about the state of the Nigerian state. In summary, the president said that “reforms are over, foundation laid for prosperity.” The president’s assertions have never been interrogated, except for sporadic attacks from leading opposition figures about specific items.

*Tinubu

I want to ask: What was reformed? As far as I can see, what has been drummed into the ears of Nigerians, and which some multilateral institutions have bought into is the removal of subsidy on fuel energy, namely diesel, petrol, and Jet-A1, and flotation of the Naira. The argument advanced for subsidy removal was that government would conserve resources, increase revenue and have more funds to run the country.

Nigeria: From Giver To Beggar In 50 years

 By Dele Sobowale

I am delighted to announce here today that just three days ago, the African Development Bank board of directors approved $100 million for the establishment of the Youth Entrepreneurship Investment Bank for Nigeria.” — Dr Akinwunmi Adesina, President of the African Development Bank for Africa, AIDB, Friday, October 18, 2024

All the people present at the event, when the AfDB fulfilled a promise made in June last year, must have given a thunderous ovation. To some extent, there is a need to cheer that a global bank is still willing to invest in Nigeria’s future. All is not gloomy; there is still some hope.