Chief Executive Officer (CEO), Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf, has warned the Federal Government to uphold institutional integrity and ensure that justice is never compromised for convenience or political expediency.
Speaking through a policy brief made available to The Guardian, the economist expressed regret that the recent extension of clemency and pardon to persons convicted of corruption, financial fraud, illegal mining, murder and drug-related crimes by President Tinubu had far-reaching economic and social consequences.
Commending the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, for clarifying that the recently published list of beneficiaries of the presidential prerogative of mercy was not final, he said this clarification reflected a responsiveness and sensitivity to public sentiments.
He added that the public outcry that greeted the initial announcement of the clemency and pardons was deep and legitimate and the inclusion of persons convicted of corruption, financial crimes, murder, drug trafficking, and illegal mining raised profound concerns about governance credibility, institutional integrity, and investor confidence.
He noted that extending clemency and pardon to illegal miners undermined legitimate enterprise, depletes national revenue and fuels insecurity in mining communities.
Revealing more economic and investment implications, he said any form of leniency toward financial and economic crimes would erode deterrence, weaken enforcement and signal tolerance for misconduct.
CPPE commended the sustained easing of inflation in recent months, describing it as a sign of improving macroeconomic fundamentals. However, the Centre observed that the cost-of-living crisis remained acute, particularly for low- and middle-income households and recommends that the next phase of reform must prioritise welfare-focused and cost-reduction measures that deliver tangible relief to citizens.
CPPE, in a statement titled: ‘Sustaining Nigeria’s Disinflation Trajectory and Tackling Costs Pressures’ signed by its Chief Executive Officer, Dr Muda Yusuf. Noted that while the disinflation trajectory was commendable, inflation levels remain high and continue to erode household purchasing power, undermine consumer confidence, and weaken real incomes.
According to the centre, the major drivers of inflation in the country, which include insecurity, high transport costs, and climate-related disruptions, are still prevalent and continue to constrain food output.
To consolidate the current gains and sustain the disinflation momentum, CPPE recommended a list of strategic policy interventions, including strengthening security in farming regions to facilitate production and market access, expanding irrigation and storage infrastructure to stabilise food supply across seasons, and promoting mechanisation and input access through targeted support programmes.
The centre also called on the government to implement transitional energy support schemes for productive sectors, promote investments in renewable and off-grid power to enhance reliability, enforce efficiency in the electricity value chain to lower tariffs and improve supply.
