Curtail economic wastages to tackle inflation — Asiwaju Musulumi of Yorubaland

The Asiwaju Musulumi of Yorubaland, including Edo and Delta states, Alhaji Olatunde Badmus, on Sunday, urged the Federal Government to curtail all forms of economic wastage to tackle the country’s inflation.

 

Speaking to newsmen in Osogbo, Alhaji Badmus also appealed to citizens to adopt a moderate lifestyle to address the widespread inflation affecting the nation.

He argued that the significant reduction in production will inevitably lead to a reduction in the workforce, noting that there is little anyone can do about the situation at the moment.

 

He pointed out that the current inflation challenges have affected small-scale industries engaged in production, forcing them to cut down production costs.

According to him, “Nigerians have started adjusting to the realities of inflation. Go to the streets, and you will see that the number of people driving their cars has drastically reduced.

 

The cost of diesel has started dropping. Premium motor spirit (PMS) too will also come down, but it’s going to be a gradual process.”

He appealed to Nigerians to be patient with the Federal Government, stating that hardship does not last forever.

The business mogul also mentioned that the increase in tariffs for electricity supply is so high now that it has forced many companies to close down some of their factories involved in production.

 

He remarked, “Those of us who are in agriculture and also engage in production are already feeling the impact. Some small-scale private companies are relocating out of the country due to high inflation.

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However, President Bola Ahmed Tinubu, in his democracy speech, assured Nigerians that better days are coming and acknowledged that the country and its people are facing difficult times, which will not last too long.”

The president also mentioned the need to diversify the economy by engaging in agriculture.

 

“You know, if you are into agriculture, you must be patient for your produce to mature before harvesting. I do know that we will surmount these challenges in the shortest possible time,” Alhaji Badmus concluded.