Economy: Solution to current hardship won’t be spontaneous — Don

A financial management consultant and senior lecturer at the University of Abuja, Dr Segun Adelodun Sadraq, has said that the present economic woes in the country did not just happen, stressing that the desired solution may not as well be spontaneous.

Speaking with journalists in Ilorin at the weekend, the financial expert expressed optimism that things would change positively before the year runs out.

The Banking and Finance lecturer, who blamed successive administrations for the present poor economic situation in the country, said that the situation had been on and dragging till now.

He enjoined Nigerians lamenting the present economic hardship to tally along and rally around President Bola Tinubu for the success of his programmes and policies.

He said the president’s moves “if tolerated and endured are the needed soothing balm that will propel Nigeria to greater height”.

Consequently, Adelodun predicted a major shakeup in the Nigeria National Petroleum Company (NNPC) and telecommunications, noting that the development would strengthen the economy.

“There’s a major shakeup to happen this year, initially the government was letting out its plan before its implementation. Now, it has realized that the tactics often defeat the plan. This, it has now decided to keep mum about it till it is ready to launch it.

“Nigerians should just be calm and take it easy, the situation on ground is not what anyone can fix in a jiffy”, he urged.

According to him, the situation attracts aggressive moves from patriots like President Tinubu as well as the perseverance of Nigerians to understand and support his efforts.

He said that seeking spiritual solutions may never take the nation to the promised land or stop the common “Japa” syndrome but proactive steps by governments, saying that, “we cannot be going to churches and mosques hoping for miracles to Nigeria’s problems; we have to take proactive measures to break the yoke.”

He, however, suggested a reorientation of Nigeria’s value system, especially on what to do to stop the embarrassing “Japa” syndrome.

On the worsening naira exchange rate value, the varsity don said that the policies rolled out by the Central Bank of Nigeria (CBN) is good and encouraging but far from solving the nosediving currency.

“CBN’s cosmetic solution is not the final solution. It’s just to calm Nigerians down”, he said, suggesting that, “The best and surest solution is to increase the value of naira over other counterpart currencies.”

He urged the government to reduce almost to the barest minimum, duties and levies on exportation.

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