What President Tinubu’s cabinet reshuffle will reveal — Expert

A public sector reform advocate, Mallam Salihu Isa Nataro, has stated that the anticipated cabinet review by President Ahmed Bola Tinubu will reveal much about the President and provide insights into his understanding of the current economic realities.

He noted that after approximately 32 percent of his first four-year mandate, President Tinubu is well-positioned to evaluate how effectively his cabinet members have translated his Renewed Hope Agenda into tangible outcomes.

While expressing hope that Nigerians will continue to support the President in his efforts to revitalize the economy, Nataro emphasized that, despite the far-reaching implications of the sudden removal of the petroleum subsidy, every sensible person must accept the fuel price increase based on the current realities of world oil prices.

He stated, “Prices of oil in the international market placed Nigerian prices lower than the rest of oil producing nations, particularly the developed countries.

“We need to pray and support Tinubu to use the proceeds from the withdrawn subsidy to pursue appropriate investment to yield more returns.

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“Already, the President in collaboration with his Coordinating Minister of the Economy, Mr. Wale Edun, has recorded remarkable achievement for Nigeria through forward looking economic policies.

“These policies that are tailored to conform with global business atmosphere in line with the the World Economic order could lead to a variety of positive outcomes for the country.

“Some of those expected dividends include, rapid expansion of the infrastructure to bring unity and development in Nigeria, almost 48 per cent settlement of our foreign debt profile within a year,

“Improving foreign reserves to restore the value of our international trade with the world and locally upping the ease of doing business based on tax waivers and promoting small scale businesses.

“All these are some latent achievement that critics don’t readily reckon with.”

Nataro, who is also a public finance expert, disclosed that the efforts of the Coordinating Minister of the Economy and the Chairman of the Federal Inland Revenue Service (FIRS) to establish a favorable tax regime are aimed at easing conditions for middle and lower-tier businesses.

He contended that the cabinet reshuffle would indicate how well this approach is received by the President, noting that the overall effect of the system is to make it compulsory for all private sectors to pay the national minimum wage based on the principles of the Renewed Hope Agenda.

Nataro, who contested the Kebbi State governorship under the All Progressives Congress (APC) in 2015, argued that while a cabinet reshuffle is necessary to infuse new ideas and remove redundant ministers, care must be taken to avoid disrupting positive initiatives that require a long gestation period.

“As the President rejigs his cabinet, I believe that as a professional accountant and auditor, he would be guided by the demands of the moment to bring in tested hands and experts that would not be distracted by political calculations.

“The President barely less than two years to build the legacy of his administration.

“He said that putting Nigeria’s economy on sound footing is his major preoccupation and we believe him.

“But, what happens after the first cabinet reshuffle should determine how far the President is prepared to match his words with concrete actions,” Nataro asserted.

He recalled how he has been calling for far-reaching public sector reform, stressing that both the federal and state governments need to urgently reform the civil service structure and the education sector.

“These measures could entail laying off of staff to reduce duplication of functions and avoid unnecessary spending.

“But, the pain could be mitigated by providing long term credit facilities to retirees and redirecting others to other areas of need, including farming and teaching.

“I will not relent in reaching out to various governments to see how to help them embark on these much needed reforms, especially in the area of cutting down public expenditure and ensuring high productivity,” he stated.

 

NIGERIAN TRIBUNE