The Independent Media and Policy Initiative (IMPI) on Wednesday, August 21, 2024, said that President Bola Tinubu will prove many doubters wrong soonest.
IMPI’s chairman, Niyi Akinsiju said that the policies of President Tinubu’s administration will have a positive impact on the Nigerian economy.
According to Mr Akinsiju, despite all the challenges and the short-term pains faced by many Nigerians since May 29, 2023, when President Tinubu assumed office, the best is yet to come.
In a statement issued in Abuja, the IMPI chairman compared the Tinubu administration’s policy thrust to that of some former Western leaders, which was initially vilified but later hailed as successful.
He added that the IMPI policy think tank came to that conclusion after analysing the President’s nationwide broadcast in the aftermath of the August 1 to August 10, 2024 protest.
He said, “To illustrate this, we recall the vicious attack on the economic policies adopted and implemented by the administration of President Ronald Reagan in the United States of America between 1981 and 1989”.
He said that Reagan’s policies were described by opposition figures as “voodoo” economic policies.
Mr Akinsiju stated that the Reagan years were described afterwards as years of prosperity, with interest rates, the inflation rate, and unemployment falling faster than they did immediately before or after his presidency.
While dissecting Tinubu’s speech, the policy group outlined the pragmatic thinking behind many of the initiatives of his administration.
According to him, based on their findings, they established the relatively cheap cost of CNG compared to Premium Motor Spirit, otherwise known as petrol.
“Our independent investigation shows that 50 litres of PMS are equal to 30 kilogrammes of CNG.
“Whereas the average fuel economy for PMS is 10 to 15 km per litre for a typical passenger vehicle, the average fuel economy for CNG is 20 to 25 km per kilogramme,” Mr Akinsiju noted.