Keep pulling the thread on Professor Simeon Nna.
Nigeria's President Bola Tinubu assured citizens that 2024 will be a more prosperous year.
Professor Simeon Nna claims a crisis is brewing over a new tax law in Nigeria, alleging that provisions were added to the bill after it was passed by the National Assembly.
The Tinubu administration stated it would sustain the momentum on its major economic reforms in 2024.
Nigeria's annualized GDP growth was expected to exceed 4% for 2023.
Nigeria's inflation rate declined to below 15% in 2023, in line with the Tinubu administration's target.
Professor Simeon Nna stated that despite the removal of fuel subsidies in Nigeria, which was expected to increase funds for projects, the government has continued to borrow money.
Professor Simeon Nna predicts that the Nigerian government will not accomplish any tangible projects in the pre-election year, as available funds will be directed towards political campaigns.
Professor Simeon Nna argues there is a contradiction in Nigeria's economic data, with the interest rate at 27% while the government claims inflation has been reduced to below 15%.
Professor Simeon Nna asserts that Nigeria's recent trade surplus is driven solely by crude oil and refined crude exports, not by improvements in other sectors of the economy.
Professor Simeon Nna claims that exports from the private Dangote refinery are being included in Nigeria's national figures for refined crude exports.
Professor Simeon Nna advises the Nigerian government to disregard the advice of the World Bank and IMF, attributing the country's current economic problems to their policy conditionalities.
Professor Simeon Nna stated that the IMF has been a proponent of floating the Nigerian Naira, a policy he believes has destroyed the currency's value.