Prominent Nigerian businessman and philanthropist Cosmas Maduka has sparked discussions on Nigeria’s economic policies, suggesting that former Labour Party presidential candidate Peter Obi would have enacted similar strategies had he been elected.
In a recent appearance on the MIC ON PODCAST, Maduka addressed the ongoing debates surrounding subsidy removal and economic direction under President Bola Tinubu’s administration.
Maduka expressed his firm confidence in Nigeria’s current economic trajectory, stating, “I believe, with no ambiguity, that we are on the right direction.”
He emphasized that the complexities of the nation’s economic landscape would likely have led Obi to adopt similar measures as those currently pursued by Tinubu.
He explained, “People have asked me if Peter Obi would have done anything different if he won the election, and I said no, because he would have removed subsidy from day one also.”
Acknowledging that his perspective could attract criticism, particularly because of his wealth, Maduka continued, “But you know it’s hard for me to say this, because people will say, ‘You’re a rich man, what are you talking about?'”
His remarks reflect a broader conversation among Nigerians who are grappling with the implications of subsidy removal on the economy and daily life.
Maduka concluded by urging the government to exercise fiscal discipline, asserting that the funds saved from removing subsidies should be redirected towards infrastructure development, which is crucial for sustainable economic growth.
His insights illuminate the ongoing economic discourse in Nigeria and underscore the challenges faced by leaders in navigating complex socio-economic environments.
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