A Lagos State based business analyst, Mr. Victor Iyoho, is optimistic that the government of President Bola Ahmed Tinubu mean well for the Nigerian common man.
He believes that the various decisions taken so far by the President was meant to put the nation on the path of integrity and development.
Mr. Iyoho particularly hailed Asiwaju Tinubu for unifying the Forex rates to encourage proper planning by business community.
In a chat with Present Newspapers at weekend, the analyst urged the President to follow the implementation of his campaign promise strictly in the interest of the Nigerian voters.
He said: “On the unified FX rate, before now, the CBN had different rates for different sections of those who depend on FX.
“For instance, there used to be the I & E window; the RT200 and others. But by this unification, everyone will get the dollar at same rate from the CBN.
“One of the benefits of the unification is that investors can now know the rate at which they will likely get FX. So, this will help in their planning.
“The ordinary Nigerian will feel the impact of the policy when investors come to invest in the economy.”
The various steps taken by Tinubu in the security sector also excited the analyst.
Iyoho said:
“Tackling insecurity should be taken seriously. The best time to have addressed this was before, but now that that was left undone, the next best time for it is now! Addressing insecurity, especially around the ‘Food Producing Zone’ of the country will allow farmers to their farms and produce more food, which according to the law of demand and supply, will help to reduce food inflation.
“Additionally, the presence of adequate security in the country will encourage investments in the economy which in turn will create jobs.
“Provision of efficient transportation system is equally necessary. In view of the impact of the subsidy removal on the common man, it has become very necessary that govt at all levels make provision for efficient mass transportation system, either by rail or road.
” This will go a long way in cushioning the effect on the masses. Remember that transport costs also contribute to inflation.”
Iyoho equally advises Tinubu to take political steps to address the challenges confronting the power sector.
According to him, “Though this will take a longer period to achieve, as against those points above, the government should, nonetheless, take practical steps to improve on power generation that would eventually help small businesses to grow.”
