An Open Letter to the Honourable Minister of Finance, Wale Edun
Dear Honourable Minister,
I have read with great interest your article titled “Nigeria Turning Towards Prosperity,” published in ThisDay and echoed across various platforms. Your words distinguish themselves through their clarity and the pertinence of their content. In a public discourse often characterised by ambiguity or evasive optimism, your articulate and measured expressions offer a refreshing honesty. It is indeed commendable to encounter a government voice that acknowledges the realities faced by ordinary people without denial or embellishment.
You expressed, with what I dare call genuine candour, the current hardships facing our economy — the soaring cost of living, the mounting pressures on enterprises, and the anxiety afflicting citizens whose daily choices have been narrowed to mere survival. Such honesty, though uncommon in public office, is a commendable beginning. It recognises that while national statistics and macroeconomic indicators can provide a guiding light, they often fail to convey the true pulse of Main Street — the lived experience of the average Nigerian.
However, I hope you agree that while recognising a problem is an essential initial step, it is only the beginning of a much longer journey toward meaningful resolution. The true challenge lies in translating intentions into tangible outcomes. It is not enough for policies, reforms, and fiscal adjustments to merely be announced on paper or at high-profile press conferences; their true measure must be reflected in concrete, measurable improvements in the daily lives of ordinary people. Only then can we genuinely claim progress and uphold our commitment to meaningful change.
Honourable Minister, as you forge ahead in your noble endeavours, I humbly submit a proposition: that the guiding framework for all economic policies should be anchored in three fundamental pillars — namely, the creation of meaningful employment opportunities, the augmentation of the supply of goods and services, and the diligent reduction of inflation. These essential indicators serve as perceptible gauges of genuine prosperity, distinguishing it from mere rhetoric and signalling tangible progress that benefits our nation and its citizens.
It is worth mentioning that people need to see and believe that the finance minister considers job creation a process that helps restore dignity morally and emotionally, while also defending our purchasing power economically.
It will help if people can see and believe that the minister of finance and the government’s entire economic actions are geared towards increasing the supply of goods and services, because they are committed to lowering costs.
It will help to make people see and feel that the minister of finance is committed to reducing inflation because he wants to help stabilise households and offer predictability and hope to businesses and investors.
Let me be clear, my firmly held view is that if these three elements do not improve, then all other achievements — no matter how technically sound or globally applauded — risk being hollow.
You will, of course, be recognised by admirers and supporters for your dedication and intellect. However, I have some information for you: most Nigerians today, and indeed in history tomorrow, will not judge your success by good intentions, technical explanations, or gradual reforms that take time. They will measure you and your government by a simpler and far more tangible standard: what you inherited and what you leave behind.
When the time comes to record the history, the key questions will not be how many reforms were introduced or how many international investors were convinced to invest. Instead, they will be: What was the price of food and fuel when you assumed office, and what was it when you left? What was the value of the naira then compared to later? Were more people employed, producing, and consuming than before? Could ordinary Nigerians afford a decent standard of living, or did they find it harder to get by?
Do not allow anyone to persuade you otherwise; history seldom honours those who merely slow the march of decline. Consider, for example, the inflation rate you inherited — standing at 18%. Under your policies, it surged to 35%, only to be brought down again to 25%. Some might herald this as a sign of technical progress, but the people do not equate such numbers with prosperity. For the ordinary citizen on Main Street, true success is measured not by the relative reduction of suffering but by the tangible presence of comfort and stability in their everyday lives.
That, Honourable Minister, encapsulates what I would describe as the taste and colour of Main Street prosperity. This does not merely show up in statistics, percentages, or economic projections, but is most vividly felt in the everyday realities of ordinary people. It is apparent when salaries comfortably last the month, when traders can replenish their stock without fear or panic, when transport operators can purchase fuel without trepidation, when parents can plan their children’s meals with dignity and certainty, and when young graduates are able to secure employment that rekindles their hopes and aspirations.
These feelings and circumstances are not just abstract ideals but are the very core of effective public policy — policies aimed at genuinely improving lives in tangible, visible ways. In the end, the true indicators of economic health and societal well-being are found in how well people are faring, and the statistics will inevitably reflect this prosperity once it is truly realised within communities, rather than the other way around.
Your essay gives hope that you understand this distinction. The challenge now is to make that understanding the compass of all actions and to ensure that, as reforms bite, they also heal.
While the general populace might not be fluent in economic terminology, their senses are keen enough to perceive the subtle hues of prosperity. They can undoubtedly distinguish when wealth is vibrant and when it carries a refined taste — an unspoken language of abundance that resonates beyond words.
People will always know — unmistakably — when prosperity has colour, and when it has taste because they can see and taste it.
Join me @anthonykila, if you can, to continue these conversations.
Anthony Kila is a Jean Monnet professor of Strategy and Development. He is currently Institute Director at the Commonwealth Institute of Advanced and Professional Studies, CIAPS, Lagos, Nigeria. He is a regular commentator on the BBC and he works with various organisations on International Development projects across Europe, Africa and the USA. He tweets @anthonykila, and can be reached at anthonykila@ciaps.org
