Yesterday, I led with two commentaries. I argued that the regulatory and fiscal incentives of the Federal Competition and Consumer Protection Commission (FCCPC) needs to be realigned. It came to light yesterday evening that the Chief Executive Babatunde Irukera has been relieved of his job. While this is an unexpected change, I think and hope that it allows this very important agency to see fine as the last resort. The key to that is that there should be a demarcation between regulatory and fiscal powers. Also yesterday, as expected, President Bola Ahmed Tinubu has relieved the Minister of Humanitarian affairs of her job. What is clear is that this is not sufficient. The short history of the ministry has shown that the concept does not work because it does not have the data to do so. The ministry should therefore be scrapped and the budget added to education and health ministries. The route out of poverty is not to share from an existing and reducing pie, but through sound economic policies that attracts investments, grow the economy, and create jobs.
