 We're moving away from the fuel subsidy issues right now. According to the report from the AgroPolicy, since the 1970s, Nigeria's fiscal profile has been tied to the oil sector. It's said, despite the high oil prices in the aftermath of the COVID-19 pandemic, Nigeria's oil production has been very low. Ok, let's go to the thanks force there with me. Let us just examine that term, AgroPolicy, for a bit and get some useful insight from that. Now the policy recommends that government needs to review the security architecture in the oil-producing areas and give clear instructions about ending oil theft. How do you react to that? I think that directive is very important when you think about, for example, the security situation in places like Botakot and the oil-producing states. So I think the incoming administration, they need to see how they can work with the Nigerian Navy to create security architectures with international experts that has done something tangible with that particular situation. I'll give an example. I'm not sure how the patrol team or the patrol network works, but then you take a look at the bond grid that is happening, you realize that it's a collaboration between the locals and some of these foreign nationals that are somehow taking advantage of our people and the products that we have. And we can use that example that we recently experienced with the pipeline, that the underwater pipeline that we saw the other time, that some company, I'm not sure who did that, and it's been under the Nigerian rules for a very, very long time and nothing was done about it for many, many years. So I think the security architecture is something the new administration needs to work on, and having a good defense minister is going to be a first way to go on that topic. Alright, the report also said that both the Nigerian Offstream Petroleum Regulatory Commission and the Nigerian National Petroleum Corporation Company Limited, NNPCL, should be given clear oil production and exporting targets and be held accountable when these are not met. How far will this particular stand go, really? Well, the targets we're talking about are clear. I mean, it shouldn't be something that we should blow the trumpet for because this should be the narrative in the first place. And for example, when a government is serious with business, these targets are targets that are actually supposed to be met, especially the fact that NNPC is said to be like a private entity at the moment. So it should be a profit-driven entity. And then for whatever target that they're meant to have, for example, for export or for data-grating storage facilities or production and stuff like that, this should be something that if, for example, a lead team for NNPC is created and they cannot meet those targets, they should be removed. For now, and I think Nigeria was still at that phase where we did a whole lot of technical collaboration with countries that have done it right. Sometimes looking in what can actually be a problem because we end up seeing people who come out and have selfish interests and all they are thinking of doing is getting people who are not qualified to do the job to do the job. So if this current administration would pay a whole lot of attention in getting technical partners with countries or from countries that have done it right, that would be a very good way to go because obviously they want to prove a point and having those targets would be a bit more realistic and we can achieve what we intend to achieve with NNPC. Okay, let's move away from our oil policy regime and talk about the taxation part of the fiscal policy. They also recommended they're broadening the tax net to capture the formal and informal sectors not existing in the net already. And my question right now would be, what changes are there to be expected from this? And in the wake of Nigerians complaining about multiple taxation? Well, the honest truth is that when it comes to taxation, I mean, we would give it to FIRS. They're doing a great job at the moment, but there's still a whole lot to be done. I think I'll lean towards talking about what I would expect the incoming administration to pay attention to. And that would be more of tax rebates for manufacturing companies. You look at the fast moving consumer goods that you see a whole lot of companies import those products into the country instead of certain factories in Nigeria that would improve unemployment and employ our people and stuff like that. So you see those minor products that we can manufacture inwards, we import them. Now tax rebates is something that if we pay a whole lot of attention and create a proper, what's it called, blueprint, we would increase the number of people who are manufacturing in Nigeria. And then when we have most of those, what's it called, manufacturing companies in our country, we will see that retailers are going to get from them. And it's easier for us to now tax those retailers that are selling to end users in a very, some sort of create a very good framework that will work. So multiple taxation, when you probably tax manufacturing companies and you don't encourage them, it moves down to the end user. And at the end of the day, you want to get into a retail store and want to buy something as an end user, and then you're still taxed at the same time. I mean, that contradicts itself somehow. So we need to create a proper framework for this, to remove this multiple taxation, give rebates to manufacturing companies, and increase import duties for people who are in the same person if they're in consumer goods. Fine, well understood now. But what should the incoming administration be doing about coordinating the nations and monetary policy? And again, of course, the fiscal policy to reduce our frictions and counteractive policy goes counteractive. Let me make an instance that at the beginning of this year, we were faced with the federal government or the CBNs and cashlight and cash policy cashless policy. At the end of the day, Nigerians are border brunt for about almost over two months. At the end of the day, it almost looked like a policy summer sort. So what should we be doing differently with our monetary policy? Well, a reasonable administration will want to put a capable hand in CBN, to be honest, because the honest truth is that being a cashless society has a positive impact on the economy somehow. Because if you look at some developed countries, you realize that tracing the movement of cash is a good way to reduce insecurity and then improve on the economy. But the problem is that the CBN has somehow in recent time made these policies to be like some sort of a show of strength. I mean, CBN doesn't, CBN shouldn't be as popular as it is in the first place. It should just be a government entity or independent government entity that actually creates policies that work. Like an experience with what we had just recently with the whole cashless policy and then changing the old Naira to the new Naira. That will make you understand that at this point, we are very clueless. So the new administration, they just need to make sure they get capable hands and people who have proven experience. And we have a whole lot of Nigerians in diaspora that probably work for other countries and they help in shaping the policies of these countries. We take a look at what is happening, for example, in Morocco, or take a look at what is happening in US and some states or some provinces in Canada and see what Nigerians are doing with financial policies. You realize that we have a whole lot of strong hands that we can bring back home to actually create these reforms that will help our country. Okay therefore, all of the useful insight that you have brought on the show. Indeed, we need to place our priorities right and put some of the square pegs in square holes to get Nigerian, of course, the economy working again. Ekenai is a CEO of Islam Limited and he joined us to talk about the fuel subsidy removal suspension and of course revamping the economy. We do appreciate your time, Kenneth. Thank you, Raj. All right, and that's the size of the show for this week. I am Justin, Academia Business Insight, return to again next time. Bye for now.