Tinubu’s cabinet full of incompetent lightweights, says Financial Times

President Bola Tinubu’s efforts to reform Nigeria’s economy are being undermined by a cabinet filled with individuals lacking the necessary expertise, according to a recent editorial by the Financial Times.

The editorial criticises the administration for appointing individuals based on political connections rather than professional competence, labelling the cabinet as “full of lightweights.”

Inadequate Reforms Amid Economic Crisis

The Financial Times editorial, titled “Shock Therapy Alone Will Not Cure Nigeria’s Economic Ills,” underscores that while Tinubu’s bold moves to address Nigeria’s economic issues are necessary, they are insufficient without a competent team to implement them.

“In the nearly 15 months since Bola Tinubu became president, he has forced his 220 million fellow Nigerians to swallow some bitter medicine,” the editorial states, highlighting measures like the removal of a costly fuel subsidy and the liberalisation of the naira. These actions, while essential, have exacerbated hardships for millions of Nigerians.

Urgent Need for Technocratic Talent

The editorial argues that Nigeria’s economic recovery requires leveraging technocratic talent. “With a few exceptions, Tinubu’s cabinet is full of lightweights who owe their jobs to political patronage, not to expertise,” it states.

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The Financial Times stresses the importance of appointing individuals based on their professional qualifications and ability to drive economic reform.

Redirecting Savings to the Vulnerable

The Financial Times suggests that savings from the removal of the fuel subsidy, which consumed nearly a third of the federal budget, should be redirected to support the most vulnerable.

“Savings from the subsidy cuts should be redirected to support the most vulnerable through direct cash transfers and a robust social safety net,” the editorial advises.

Utilising technology for direct cash payments and establishing a proper safety net are critical steps to mitigate the impact of these reforms on the poorest Nigerians.

Unifying Vision and Shared Sacrifices

The Financial Times highlights the need for Tinubu to unify the nation behind a clear, shared vision. “The president must chart a course ahead and convince Nigerians they are in it together,” the editorial advises. This includes the political elite making tangible sacrifices to demonstrate solidarity with the public.

“Extravagant perks for government officials should be curtailed,” it adds, urging a reduction in lavish pay rises, flashy cars, and jets for government officials.

Transparency and Accountability in Governance

Transparency and accountability in fighting corruption are paramount for Nigeria’s economic revival. The Financial Times calls for a crackdown on corruption at all levels of government.

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“Transparency and accountability in fighting corruption are paramount,” the editorial asserts. Addressing issues such as the alleged diversion of funds and wholesale theft of oil is essential to restoring public trust and ensuring effective governance.

Enabling Role of the State

For Nigeria to achieve lasting economic revival, the state must provide essential infrastructure and services.

“The state must play an enabling role by providing essential infrastructure and services such as power, roads, security, education, and healthcare,” the Financial Times concludes.

Without a well-articulated and integrated plan, Tinubu’s stringent measures will merely inflict further pain without achieving the desired economic recovery.

Comprehensive Strategy for Sustainable Growth

In summary, the Financial Times asserts that while President Tinubu’s tough decisions are a necessary start, they must be complemented by a comprehensive and inclusive strategy.

A competent and technocratic Tinubu’s cabinet is crucial to driving Nigeria’s economic revival and ensuring sustainable growth. “A holistic approach is necessary for Nigeria’s economic revival and sustainable growth,” the editorial concludes.