Nigeria’s economy in shambles — NNPP’s Ajadi

A business mogul and frontline politician in the country, Ambassador Olufemi Oguntoyinbo, has called on the President Bola Ahmed Tinubu’s administration to save Nigerians from serious hardship currently being witnessed in Nigeria.

This is as he also alerted the government of the sorry state of the country’s economy which he said is already making it a laughing stock in the eyes of the world.

Ajadi, in a statement on Tuesday lamented that Nigeria and its citizens are losing respect not only in Africa but throughout the world calling on President Tinubu to do something for the country to regain its rightful position among the comity of Nations.

He particularly expressed his worries on the deregulation of the oil sector which gives room for different prices of petroleum products by different marketers, warning that the fate of Nigerians should not be left in the hands of few bourgeois.

Ajadi, who was the governorship candidate of the New Nigeria People’s Party (NNPP) in the last general elections reminded the All Progressives Congress, ( APC) administration that the current exchange rate of Naira has shown how valueless our currency has become, saying the price of foodstuffs have also gone beyond the reach of the common and average Nigerians.

He warned that the government should remember that in few years time it will face the electorate, saying if the administration abandon the people now, how will it stand up to demand for their votes.

According to him: “Nigerians are currently experiencing the worst form of life now. The deregulation of petroleum products’ prices by the government has led to people buying the products at different prices from the marketers. As of today, many Nigerians’ are buying petrol at between N1000 and N1200. This is absurd. Few months back, the price was N695. How will Nigerians’ cope with this high prices.

“The country’s economy is in comatose with the cost of foodstuffs going to the roof. Rice is unaffordable. The gari, elubo and even pepper that are believe to be common are also in high prices. The new minimum salary agreed to by the government is not yet implemented by the government, making an average workers unable to go their offices.

“Governors instead of cooperating with the federal government in finding lasting solutions to the problem are giving workers days to work from home. What of those who have something to do with government, will they go to civil servants at their homes to carry out such transactions?
“As it is now, the country is parading two different sets of One thousand Naira, Five hundred Naira and Two Hundred Naira Notes, giving room for production of fake Naira Notes. To worsen the situation, the current exchange of Naira has made the country’s currency worthless in comparison to Dollars, Pound Sterling and even the neighbouring countries’ currencies.

“I am very sad that Nigeria’s currency can no longer compare favourably with Ghana Cedis and West Africa Coast CFAs. That is the reality we are in now. Anybody still calling Nigeria the giant of Africa is economical with the truth. One Ghanaian Cedi now exchange for almost N106. CFAs too has dumped Naira behind.

“How did we get to this sorry state?. The government and business leaders in Nigeria as well as our academia must stand up now and let’s do whatever we need to do to improve our economy. We cannot continue like this. All hands must be on deck to rescue our economy.

“I call on President Tinubu to seek the support of the former Presidents and technocrats in the country to get the country out of this doldrum.
“This issue is beyond playing politics. President Tinubu should call for a Summit of All Political Parties’ Leaders to pally and come out with solutions to problems confronting our nation.”

NIGERIAN TRIBUNE