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Bismarck Rewane, an economist and Managing Director/Chief Govt Officer of Monetary Derivatives Firm Restricted in Lagos, has urged President Bola Ahmed Tinubu to inform Nigerians the reality and do one thing fast to avoid wasting the nation’s economic system, saying the scenario will not be wanting good.
Rewane acknowledged this throughout an interview on Channels Politics In the present day.
He mentioned that there isn’t any fast repair answer to Nigeria’s financial challenges.
He mentioned that what the president wanted to do for the time being was to dam the leakages and search for competence reasonably than loyalty.
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Rewane mentioned, “It’s a must to be trustworthy to your self. There isn’t a fast repair to Nigeria’s financial downside. Come clear to the Nigerian individuals and inform them that that is the extent of the issue. We did it after the civil battle. Chief Awolowo got here and mentioned what to do. On the finish, all the pieces was rebuilt and the economic system got here again to the place it was purported to be.
“So come clear; block the leakages; and search for competence. Competence is extra necessary right now than loyalty. Search for competence and just be sure you execute effectively.
“Any answer that requires printing more cash will not be the panacea for inflation. Inflation is the start of the tip of a foreign money and the tip of a foreign money is the start of political crises.
“The scenario will not be wanting good. You (Tinubu) must do one thing and do it in a rush. And ensure you get suggestions so that you’re monitoring the scenario as a result of the suggestions you get could also be flawed. It’s possible you’ll suppose you’re on the fitting path, if you are on the flawed path. Sincere {and professional} suggestions as to what the reality is. With out the reality you can’t set the individuals free.”
