It's suprising to note that at a time when public opinion over fuel subsidy was still rife with disaffection and hate, amidst serious security concerns in the country, Standard & Poor went ahead to upgrade the Nigeria's ratings. Undeniably, the rating was premised on the assumption that FGN would fully implement its neo-liberal policies with effect from 2012. No suprise, the government immediately removed the subsidy that as at last week, it was still undecisive about. To me, this Ratings upgrade was a bait, and govt fell for it.
Come to think of it.Of what use is the rating to the foreign investors when they are readily apprehensive about the security situations in the country? What sort of hardship is this clueless govt trying to subject people to, adopting neo-liberal policies hook line and sinker without regard to the external shocks this country would be proned to? Our economy is too weak to absorb the shocks. Eurozone crisis is already hanging over our cloud. During this economic crisis is when reasonable govts are supporting their economies, shielding them from external shocks. Can't our own govt learn from China and the UK?
FGN has finally removed fuel subsidy even when our own local refineries are almost moribund. The poor masses will now be paying for govt's inefficiency and lack of common sense! The deed has been done, anywayz. What can we do? Revolution? Very doubtful. Nigerians too comfortable with poverty to think of that. Dear colleagues, how does the fuel subsidy removal affect you personally?
Welcome to my blog. This blog seeks to throw up an open session for small business owners and top-level executives to share their strategy-related problems and how same were tackled. Sikiru would be glad to provide strategy supports to SMEs owners and business managers. He would be providing case studies, economic reviews, business insights amongst others. Therefore, feel free to join Sikiru on pure issue of Strategy.
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