The era of consuming food to the point of satisfaction has been gone for a long time in the country. The economic strangulation affects both the poor and the rich these days! That is why the critical issue of revamping the economic situation in the country should be given priority attention by the government. Nigerians really need to enjoy the dividends of democracy.
The fact is that the naira has no value any longer: foreign currencies are now soaring on a daily basis, compared to the naira that is crawling. As a matter of fact, the Minister of Finance, Mr Wale Edun, and the CBN Governor, Dr Olayemi Cardoso, have a lot to do to rescue the naira.
Many industrialists are encountering difficulties as the prices of imported materials are skyrocketing on a daily basis. Although the Western countries are not left out when it comes to economic challenges in one area or the other, the fact remains that they have better control over their economic situation, as things work better for them.
All the industries that are moribund in the country should be resuscitated. We need to depend on locally made products. That would mitigate the high cost of imported goods in our various industries. The major problem that has been affecting the economic situation in the country is that we basically consume foreign products instead of locally made products.
I actually appreciate the new policies that were introduced by President Bola Tinubu across all sectors but the Presidency should also introduce measures to urgently revamp the economy.
Oladimeji Michael, Ibadan
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