It has been over a seven month since the President Muhammadu Buhari sworn in his cabinet members. One would think the controversies that surrounded his nominations will yield outstanding performances from the ministers properly screened by the National Assembly.
Nigerians is currently operating under a terrible economic climate which can solely be attributed to our misfiring ministers who are supposed to work hand in hand with the presidency to make favorable policies.
The list consist of key sectors of the economy who have either been quiet or under-performing
Headed by Mrs Kemi Adeosun, the ministry of Finance has performed really woefully since Mrs kemi had been sworn in as a minister. The federal government and Ministry of Finance have made conflicting comments and decisions in the past 7 months. Recall that earlier in the year the International Monetary Fund (IMF) boss Christine Lagarde paid a five-day working visit to Nigeria. The visit was rumoured to facilitate a quick loan from the IMF (a loan several financial experts barked at). IMF departed Nigeria after quenching the loan rumour. Lagarde however said the Federal Government need to increase its Value Added Tax rate because our VAT rate is the lowest in Africa (a move that will reduce profits from Nigerian Enterpreneur).
In a bid to revamp the economy Miss Kemi and PMB travelled to Dubai to woo both Oil and Agriculture investors; all of which has proven abortive
Power, Works And Housing
Headed by the ex-Lagos state government Babatunde Fashola these 3 sectors have more excuses than actons since Fashola was sworn in. Following his achievements as a governor, Nigerians were quick to shy away from the obvious work load giving to Fashola because of his prospects. However, Fashola’s portfolio has performed woefully since he assumed office.
Siting increase in price/lack of raw materials as an excuse, Fashola announced 45% increase in electricity tariff on the first day in February. (as if Nigerians have not been subjected to enough hardship by the power sector). The hike in electricity tariff witnessed a lot of strike actions by both consumers and electricity workers who constantly protest against lack of salary payments.
The Works and Housing ministry is yet to produce to complete any project or finish the uncompleted ones by the previous administration.
Nigerian are now doubting Fashola’s superpower to wield the 3 portfolios given to him
A lot has gone down in the past few months by the oil sector which is officially headed by President Muhammadu Buhari and Former NNPC Director Dr Ibe Kacikwu. The truth is the FG and oil minister have gambled a lot on the lives of Nigerians by making contrasting policies. Oil marketers have had their share of blame (gain) so has the minister. The recent deregulation has it difficult for Nigerians to enjoy comfort. Kachikwu has always been coy about the privatization of the 3 refineries.
All Nigerians can pray for is that the aforementioned sectors will come alive and help resuscitate the economy.
Written By Daniel Enisan