The Chief Financial Officer of First Hydro Carbon Nigeria, Kayode Olatubosun , has congratulated President Bola Tinubu and the entire All Progressives Congress (APC) for their victory at the Supreme Court on Thursday 26th October, 2023.
In his statement through his Media Assistant, Adediran Adeyemi, which reads:
Now that the Supreme Court has ascertained the legitimacy of President Tinubu’s mandate, I will encourage everyone to give the government a chance to prioritize and fix some of the crises we are contending with today as a nation:
Monetary policy crisis: The changes in the leadership of the CBN is a step in the right direction. However, Nigerians deserve a coherent policy direction with respect to the foreign exchange market and fit-for-purpose monetary policies to realign interests rates, restore confidence in our financial markets and put inflation firmly under control.
Balance of payment and fiscal crisis: The removal of subsidy is now reducing importation and pressure on Nigeria’s fiscal situation. However, the security of lives and key infrastructure as well as the promulgation of stable and attractive fiscal terms to immediately engender private sector investment and strengthen the core of our industrial base are a legitimate ask of our people and I am praying that the government will deliver.
Stranded assets crisis: Nigeria is littered with a vast amount of unproductive assets, and relying on debt financing alone is starkly insufficient to take our country out of the woods. We have to expedite the concession/divestment of stranded assets to stabilise and eventually diversify the economy in the context of energy transition.
Social-economic crisis: Our people are fighting hard to escape destitution, cost of living is unbearable, and insurgency and banditry across the country are yet to abate. As such, Nigerians deserve a living wage, a credible and inclusive social-safety net for the less privileged, and strong institutions.
I’m convinced the current administration is on the right path and the prospect of our beloved country is not in doubt.
Fellow Nigerians, let us now get to work (regardless of our ethnic, political or religious orientation) to realise the “renewed hope” agenda of President Bola Ahmed Tinubu. God bless Nigeria.
Kayode Saheed Olatunbosun, CFA, FCCA.
