Kalu Aja Lists Two Things to Tell President Tinubu in Elevator

A popular financial analyst known for his vocal criticism of the economy, governance decisions and the economic impacts has recently said what he will tell Nigeria’s incumbent President Bola Ahmed Tinubu to save Nigeria’s economy if he meets the president in an elevator. He painted the scenario of the elevator pitch and highlighted two critical things the president should do.

In his tweet, he mentioned ending oil theft and elimination of bandits. In his assumption, he posited that the two things he mentioned have negative economic effects on food security and naira fall.

According to Kalu Aja ”

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“If I meet President Tinubu in an elevator, I will tell him

1. Stop crude oil theft

2. Eliminate the bandits

These two measures have strategic economic effects

1. Will boost fx earnings, reduce the deficit, boost the Naira, reduce imported inflation

2. Drops inflation, allowing MPR to drop, allowing a loose monetary policy to have traction and lead to job creation Notice these are not purely economic policies but I don’t how CBN raising or reducing interest rates will lead to more food if bandits remain in farmlands Not do I see a pathway to the Naira gaining value if volumes of crude oil exported do not go up True, we can reform the Land Use Act and pass a good tax policy but nothing transformative can happen in an economy with 25% inflation and high food prices In closing, sadly the pathway goes through crude oil in the immediate term”.

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