President Bola Tinubu
VERY SHORT TERM
1. The golden rule when facing any crisis is to allay fears. Mr. President, reassure Nigerians via TV and radio in a brief 5-minute speech, translated into local languages by governors and parliamentarians.
2. Plead for understanding in the speech, promising further updates in four weeks. Announce cuts in government expenditure, emphasizing the need for basic economic principles to address hyperinflation.
3. Outline a strategy for essential spending prioritization. Emphasize the need for common-sense measures to navigate hyperinflation. Expenditure saved is income earned.
SHORT TERM (Next six months)
1. Halt new civil projects, advising states to do the same. Redirect saved funds to agriculture for a timely harvest.
2. Continue funding approved civil projects, promoting direct labor to circulate income.
3. Import strategic food items and support local growers through state governments.
4. NNPCL should push locally refined petrol, importing fuel if needed. Monitor prices ruthlessly to address the fuel crisis.
5. Identify major food growers and support them directly through state governments.
6. Release CBN probe report promptly.
MEDIUM TERM (6-12 MONTHS)
1. Probe the banking sector with an enabling law for trials through Tribunals.
2. Establish a Civil Servants Miscellaneous Offences Tribunal to address corruption in the civil service.
3. Revise the National Food Policy to achieve food self-sufficiency.
4. License new agric banks and small-medium industry banks, emphasizing commercial farming goals.
5. Establish 40 modular refineries strategically, involving state and local governments.
LONG TERM (one year and above)
1. Sustain medium-term policies.
2. Resume civil works for employment and income generation.
3. Initiate agro-processing for exports.
4. Reevaluate Federal Universities of Agric and promote state-owned Agric varsities and technical universities.
5. Ban frivolous imports to strengthen the economy.
6. Avoid price controls; rely on the Theory of Demand and Supply. Focus on exporting excess food to generate foreign income.
In conclusion, execution is crucial. The crisis can be managed with common sense, discipline, and willpower. Thank you for your actions, Mr. President.
Your patriotic subject,
Olufemi Samson Aduwo (OSA)
