Nigerian-Swedish musician and producer, Ogbuagu Alban Uzoma Nwapa, popularly known by his stage name, Dr. Alban, has bared his mind on the current economic situation in Nigeria.
He said, he has been closely following the economic reforms of the Tinubu administration, and expressed his concern that “they’re not having the desired impact”.
Dr. Alban admitted, the removal of fuel subsidy and stabilizing the Nigerian legal tender, Naira, are “important steps”, however, said, the “real challenge” is how these reforms are being implemented.
The singer believes, Peter Obi and Alhaji Atiku Abubakar will also remove fuel subsidy and stabilize the Naira, but, with a different approach.
In his opinion on the current state of Nigeria’s economy posted on X by cousin, Charly Boy, Dr. Alban said: “I’ve been following the current administration’s economic reforms, and I’m concerned that they’re not having the desired impact.
“While I understand that removing fuel subsidies and stabilizing the Naira are important steps, I believe the real challenge lies in how they’re being implemented. It seems to me that the government’s approach is misguided, with too much focus on allocating subsidy funds to governors and increasing salaries for certain officials.
“I’m also worried that they’re prioritizing new infrastructure projects over maintaining the ones we already have. The fact that food prices have tripled since they took office is alarming, and I think it’s time for a more nuanced approach.
“As Okonjo-Iweala pointed out, ‘social safety’ measures are crucial, but it seems like they’re missing from the current plan. I hope we can have a more thoughtful discussion about how to address these issues and support the people who are being affected.”
“I can argue that OBI and Atiku wanted to remove subsidy and stabilize our currency but the approach I’m certain would have been different.”
