Another important conversation I want to hear during this electioneering campaign season is the conversation about state policing. Very important discussion we should have.
Subsidies should not be used as a tool for protecting monopolies that is certain industries but should be a temporary scheme to correct market failures to improve social conditions of people. Subsidies can actually be reintroduced to correct market failure social conditions.
There’s no balance in the conversation on fuel subsidy. My position is that subsidy cannot be returned. It’s too wasteful to close the funding gap and Nigeria does not have the production levels to directly provide discount to Nigerians.
CBN should quietly strengthen the naira with the robust net reserves (FG rigorously keeps oil production/non-oil exports up) while FG & states articulate a solid social protection plan. Without the expanding deductions and refunds, a ~ N1,000 to USD FAAC keeps fiscals in same space, allows reduced cost to service debt and also lowers general price levels.
Creating a Federation dedicated fund to safety nets should be explored and FG needs a comprehensive plan to provide nudges and incentives to states for quality fiscal performance.
Reiterating that benefits have accrued to states is not enough because there’s still huge trust deficit as well as asymmetry on how funds directly benefit citizens. The end point must also be communicated to citizens. What would prosperity look like? When is the end of the current suffering? How will the government show solidarity with its use of public funds?
Subsidies should not be used as a tool for protecting monopolies that is certain industries but should be a temporary scheme to correct market failures to improve social conditions of people.
Correcting Market Failures Subsidies work well when private markets fail to supply socially optimal outcomes, such as funding basic R&D, green technology, or public infrastructure. This is what I understand with what Atiku is talking about.
"O mankind, indeed We have created you from male and female and made you peoples and tribes that you may know one another. Indeed, the most noble of you in the sight of Allah is the most righteous of you."
— Qur'an 49:13
In Islam, claiming that one race is genetically or inherently superior in intelligence to another is considered a form of Jahiliyyah (pre-Islamic ignorance and tribalism . Human value and capacity are judged strictly by moral character, choices, and personal righteousness (Taqwa)
@adamugarba The jingir man needs to be cautioned the most annoying part was that the governors were seated there laughing when he was making those hateful remarks.
@SaharaReporters There actually several populist political theories that support this and even literature reviews on this with Brazil and India as a case study. Funny enough 😃
@Morris_Monye Let obasanjo himself deny that he didn’t feed and clothes him you are not in any position to defend him Atiku knows obasanjo and anything that transpired between them from his prison days to his release better than you do.