Nigeria’s Far-Reaching Macro-Economic Reforms and the Changes in the Electric Power Sector

The federal government of Nigeria commenced reforms at the macro-economic level. These steps have included substantially reducing petroleum subsidy (writer doesn’t believe there is no subsidy at all), leaving the Nigerian currency, the Naira, to float rather than pre-determining/influencing its value, seeking to expand the tax net but reducing or at least keeping taxes at the current levels, amongst other steps. Many of these reforms will or have, been painful and there were going to be so, in the short term, as same were potentially going to adversely impact the country’s macro-economic and socio-economic outcomes.