Aare Ona Kakanfo of Yoruba land, Iba Gani Adams, on Thursday lamented the high level of inflation and economic downturn in the country, urging President Muhammadu Buhari to find a solution by boosting investments in agriculture and providing effective security for farmers while reiterating his call on the need to restructure Nigeria in order to bring about a lasting solution.
Iba Adams said this while speaking at the 2nd Edition of Odo Erelu Festival, which held at Meiran, Lagos State, warning that giving the present economic situation in the country, Nigerians should be ready for a very tough time by 2022 if President Buhari fails to save the country from collapsing before December, this year.
According to the Yoruba generalissimo, the nation’s economy thrives when there is both economic and social security, saying such would make both the middle and the lower class people live within their means and enjoy social security, including health benefits, adding: “I think that will obviously translate to economic prosperity that will be for the overall benefit of Nigeria and Nigerians.”
“From the present economic situation in the country, if President Buhari fails to save the economy from collapsing before December, this year, God forbids, we should be ready for a very tough time by 2022.
“The only thing the Federal Government could do to address the inflation in Nigeria is to boost agriculture and provide effective security for farmers.
“The economy of a nation thrives when there is both economic and social security. Both the middle and the lower class will live within their means and enjoy social security, including health benefits,” Adams said.
“And finally, the Federal Government should restructure this country into federating units and regions so as to allow each region to be able to harness the social, political and economic potentials of their respective regions.
“This would boost agriculture and provide effective security for farmers,” he added.
On inflation, Iba Adams sadly observed that the country’s economy as of today was in terrible condition as the nation’s currency was falling daily against other international currencies, while prices of essential food items, and commodities were on the high side.
This was just as he noted that the high rising inflation and current economic downturn had triggered the growing spate of insecurity across the country.
“A bag of rice produced here in Nigeria is put at N25,000 presently. Gari, which is also a very important commodity for the low-income earner, is no longer affordable to the people.
“Today in Nigeria, nothing is free because everything has been monetized. And corruption has taken its toll on the entire system.
“Meanwhile, inflation and the current economic downturn has triggered the growing spate of insecurity across the country,” Adams said.
The Yoruba generalissimo appreciated Oba (Dr.) Samuel Awoyemi, Oroja 1, Akarakiri Ekun 2, for being supportive by ensuring that this year’s Odo Erelu Festival started and ended in the most appropriate way.
Iba Adams, while reiterating the need for Yoruba sons and daughters to hold on strongly to their tradition and culture, appealed to traditional rulers “to use festivals like this to promote our cultural heritage.”
“What we are doing here today is in conformity with the Yoruba culture and tradition. So, it is in our own interest to find a way of projecting our culture and tradition, nobody will do it for us.
“The ability to sustain this festival and make it viable for (global appeal and recognition) lies in hands of all of us, especially, the indigenes of Meiran town,” he said.
Iba Adams, however, assured that the Olokun Festival Foundation (OFF) had provided the platform through which the festival, which started two years ago with celebration and fanfare, could be sustained, saying it was now the “duty of all the stakeholders to support and complement our efforts in ensuring that Odo Erelu Festival becomes a festival of international standard.”
“By celebrating this festival, it is no doubt that it will bring about the much needed development to this community and the entire kingdom.
“Odo Erelu Festival will also open up the entire town to various business activities,” Adams said.
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