- Atedo Peterside critiques the N90 billion Hajj subsidy, calling it detrimental to Nigeria’s economy and emphasizing policy consistency
- Peterside urges the Tinubu administration to instill confidence by showing effective governance and taking measures to strengthen the naira
Atedo Peterside, the founder of Stanbic IBTC and ANAP Foundation, has expressed that Nigerians are keenly observing the administration of President Bola Tinubu to determine if it is committed to effective governance.
During an interview on Channels TV’s Politics Today, Peterside critiqued the recent N90 billion subsidy for the 2024 Hajj, arguing that such expenditures are detrimental to the nation’s economy. He emphasized the need for policy consistency to attract investors and revitalize the economy.
Peterside stated, “Policy consistency is what investors are looking for before reactivating the economy. The government must show them that it is doing all the right things, putting the right policies and coordination in place.”
He expressed concerns over the lack of coherence in policy implementation, noting that sudden directives from the legislature and executive branches, rather than the Central Bank or Ministry of Finance, can be problematic. Specifically, he pointed out the subsidy for the Hajj as an example of a policy that could harm the economy.
Peterside stressed the importance of instilling confidence in local and international communities. He remarked, “Many people are waiting to see whether this government is serious. If Nigeria turns around, you instil confidence. This is not the politics of political parties. I want to see every government in Nigeria better than in the past.”
In conclusion, Peterside urged the government to take decisive measures to strengthen the naira and ensure economic stability.
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