Yet, against the backdrop of the previous government’s cack-handed policy on the economy, these were always going to be difficult decisions. Both the price of petrol and the external price of the naira have been left to the markets to determine. Giving the multiplicity of transactions in any such market, governments struggle, as is evident in our recent experience, to anticipate these equilibriums. PREMIUM TIMES aligns with the Tinubu government’s reform direction, even as it is troubled by the privations that the larger number of our people have had to bear of late on this account. The irony is that this latter category of reforms is where the market fails, and the government comes into its own.

Source: The Guardian July 10, 2023 18:00 UTC