Author: Sheriffdeen Tella

In a quest for economic transformation, past Nigerian leaders have introduced various reforms that have not yielded the desired results. From Goodluck Jonathan’s transformation agenda to Umaru Musa Yar’Adua’s seven-point agenda and now to President Muhammadu Buhari’s reforms, the country has struggled with economic woes. Despite the introduction of multiple reforms backed by the World Bank and IMF, the Nigerian economy remains unproductive, highly indebted, corrupt, and deceptive. The emphasis on free market forces has not benefitted the country as expected. Moving forward, the focus should shift from economic reforms to economic transformation. Nigeria needs to prioritize production over a…

Economic Policy Reforms: A Path to Prosperity Recent government policy announcements in Nigeria signal a shift towards more strategic economic measures to steer the nation towards prosperity. Central Bank Governor Mr Olayemi Cardoso hinted at lowering interest rates to stimulate economic growth by reducing borrowing costs for businesses. The high interest rates have hindered credit access, hampering business expansion and job creation. Additionally, the Federal Government’s focus on agriculture, alongside state governments, is a positive step towards self-sufficiency. Each state is encouraged to specialize in crops suited to their environment, with a goal of boosting local production and reducing reliance…