I have taken time to digest the new policy on forex management by the CBN and can safely state that it's a step in the right direction if flawlessly executed. Even though it's coming 8 months after some of us started pushing for it. Better late than never.
This Buhari govt now needs to fashion a positive image building blitz of the country targeting major investment blocs like JP Morgan on and off media to clean the Aegean stable of demarketing it crazily embarked on 12 Months ago.
The govt at the FEC level must also start meeting every week to track ministers performance Vs the change road map. Keep a steady plan and closely monitor investments in key regions like South South... Negotiate with the various interest groups in the Niger delta to keep a steady income to fund projects in the budget on key sectors.
Furthermore, There must be an economic team in place as soon as possible. The Finance minister clearly will do better as a director of audit in the same ministry as the portfolio is obviously too big for her. Buhari can poach an Arumna Oteh or Ngozi Okonjo Iweala to get cracking with key fundermentals afterall Obama retained a Bernanke who was already doing a good job on the feral reserve even though their ideological inclinations are world apart. What matters is service delivery! as it stands, our economy needs all the help it can get.
Finally... We must take the bold step of starting to revisit the 2014 confab report with ultimate of returning back to regional governments or some less cumbersome structure.... Merging the National Assembly and keeping only about 100 members with no constituency projects... Reforming the police... Prisons and Judiciary with special emphasis on special courts that conclude corruption cases in 6 months to curb corruption.
Some Ideas to make the country stand on its feet again.
Joseph Onuorah
