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There are lags between policy and its impact – Rewane

A year after President Ahmed Bola Tinubu was sworn in as president and commander-in-chief of the Nigerian Armed Forces, analysts say there are discrepancies between government policies and their impact.

“The reality remains that there is a disconnect between policy and impact, and then impact and credibility,” said Bismarck Rewane, group managing director of Financial Derivatives Company (FDC) Limited.

He continued: “This is a year of leadership from this administration and policy changes must be followed by institutional reforms to ensure tangible benefits reach society. So far, there has been a shift of resources from citizens to government. It is time for the government to use resources efficiently and ensure that the multiplier effect of investment is felt.”

“The government was beating its chest, thinking that its policies would change people’s lives, but it didn’t realize that the effects would be negative,” said Benson Ogiu, a marketer in Lagos.

Rewane said that at a moment when new reforms are being initiated, we cannot afford to ignore Ruchir Sharma’s sobering remarks: “It is now worth taking a look at nations that were considered stars but are now collapsing.”