SDP’s Adebayo calls on FG to support private sector

The candidate of the Social Democratic Party (SDP) in the 2023 presidential election, Prince Adewole Adebayo, has advised the federal government to support the private sector to prevent its imminent collapse.

He also recommended that the federal government strengthen and control the country’s currency, noting that currency stability is crucial for fighting and eradicating poverty.

He said, “Therefore, you must ensure that the private sector does not fail. It is evident that the private sector is collapsing, whether in manufacturing, services, agriculture, transport, mining, or any other sector. This issue needs to be addressed. Additionally, controlling your currency is essential. If you lose control of your currency and cannot retain its value, the Naira—the primary tool for combating poverty—loses its effectiveness. If the Naira can retain its value, allowing you to work and save money in January to support yourself through Christmas, then it is functioning properly. However, that is not the current situation.

“There is a lack of respect for the sensibilities of the people because they are frustrated. People are angry when they see those in power living extravagant lives while they struggle. Earning the respect of Nigerians is not difficult; they are generous people. However, the government should not be outsmarted by the average Nigerian. The government must show empathy and understand that it is governing for the people. What is being done now is not business; it is governance.

“The measure of whether the government is performing well should be reflected in the lives of the people. If the government cannot help them immediately, it must be on the same level as the people to show that it understands their struggles. This government has failed in this regard.

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“Moreover, it is important to recognize that wealth is created by utilizing people, not by hoarding resources. Having millions while many are unemployed, especially the youth, is unreasonable. The government alone cannot employ everyone or create all the wealth.

“Therefore, ensuring the stability of the private sector is crucial. It is clear that the private sector is collapsing in various sectors, and this must be addressed. Additionally, controlling the currency is vital. If you cannot maintain the value of the Naira, which is essential for fighting poverty, the current situation is untenable.”