Economist Podcasts
A messy oil change: Nigeria’s fraught reforms
Sep 7, 2023
Ore Ogunbiyi, a correspondent from Lagos, shares insights on Nigeria's economic challenges following President Bola Tinubu's controversial fuel subsidy cuts. He discusses the rising inflation and its toll on ordinary citizens while contrasting this with cautious optimism from investors. Leo Marani, reporting from Mumbai, highlights how India's cities could thrive with more autonomous governance, using Bhubaneshwar as a shining example of urban innovation. The conversation also touches on the evolving landscape of video games, shifting towards kinder themes to cater to a diverse audience.
22:05
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Quick takeaways
- Nigeria's President Tinubu's promised reforms lack concrete plans, causing concerns over rising inflation and removal of fuel subsidies.
- Bhubaneswar's success highlights the need for more local government autonomy in Indian cities to address pollution, congestion, housing, sanitation, and education challenges, like those faced by most urban centers.
Deep dives
Mixed reviews for President Tanubu's first hundred days in office in Nigeria
After a disputed election, President Tanubu faced legal challenges that were recently dismissed by the Nigerian judiciary. While investors seem satisfied with his market-friendly reforms, the average Nigerian is concerned about rising inflation and the removal of the fuel subsidy, leading to higher prices for essentials like rice and transport fares. The government's attempt to provide monthly cash transfers to the poorest citizens has been marred by political squabbles, and the distribution of basic food items has done little to alleviate the situation.
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