Who can tell the President that more than 2/3 Nigerians are below the poverty line in the 71 months of the Administration as Nigerians never had it so bad like this, past years.
All these are happening under a “Corrective Administration” which came to power through change mantra on May 29, 2015.
Prof Barbara Tuchmann, Harvard University, USA said History does not repeat itself; man does. Currently the man in charge repeating same.
History has already recorded that as Military Head of State from 1984 to August 1985, he led Nigeria to the first economic recession since independence.
Recession by its nature is an economic monster destroying numerous public and private assets – ending up in increasing the Misery Index.
In 1984, inflation reached unprecedented heights; companies laid off workers and created record levels of unemployment; aggregate purchasing power declined precipitously.
It is under Corrective Administration that rising inflation, is taking its toll on families, Nigeria’s inflation rate contradicts global trend. But government is to be blamed for doing nothing to control the damage because the administration officials do not know where the shoe pinches since they live in comfort zone while the costs of goods are expensive for the common man to afford. If Ghanaians, Nigeriens, Togolese, Ivorian, Burkinabe and Beninoires have passed the level of hunger and can afford three square meal per day I wonder why Nigerians still talking about daily survival as sometime the agricultural policies were not being implemented with a human face.
Even when the administration had intention to restructure the agricultural sector, it does not take into cognisant the abject hardship being faced by Nigerians.
In fact, Nigerians are languishing in extreme hardship; battling daily survival has become an uphill challenge and what people are going through in the country, have reached the highest apogee since the late 80s.
From Niger Republic to Ghana and United states to Europe. Policy makers are to blame for letting unnecessary commodity prices increments on daily basis which is a clear indication that those responsible in determining the market are the architects of the myriad of problems bedeviling our nation. Very unfortunate!! ,
Let truth be told,, the inflation rate has degenerated for several straight months, a dire trend in recent history.
But NBS distorts statistics by claiming the rise in inflation has been slower, but some economists and other stakeholders have dismissed the position of NBS, which they said needed to do more to convince Nigerians, especially those rely on their data for research and critical decision-making, that the figures are not doctored to achieve a predetermined objective.
I am sure many Nigerians will be asking if those working in the NBS come from the moon. Even the exchange rate of Naira has gone up. The price of cooking gas has gone up by more than 100 per cent. The price of every commodity in the market has gone through the roof. So, Nigerians ask the NBS, what metrics did they use?”
For the administration to reduce the level of poverty in the country federal government should focus on three Policy Priorities “Reduce Inflation by Implementing Policies that Support Macroeconomic Stability, Inclusive Growth, And Job Creation; Protect poor households from the impacts of inflation; Facilitate access to financing for small and medium enterprises in key sectors to mitigate the effects of inflation and accelerate the recovery. – World Bank advice.
Who can remind the president that, sometime in July 29, 2021, Food and Agriculture Organisation of the United Nations issued a warning on a looming acute food crisis in the North. In reality if the region is having acute food crisis the problem will have a national impact on the rest of the country. I am sure no any government in a civilized society might intend to inflict more hardship on it’s citizens despite dire warning of food crises in the country. On part of the administration, there is no any plan on it’s part to alleviate the perceived famine coupling with almost hyper inflation in the country.
Finally, with worsening insecurity, alarming unemployment, increasing economic conditions, skyrocketing prices of goods and services, and the absence of proven economic drivers, many Nigerians, though with vast and varied opinions, seem to agree that getting on with their daily lives has been very difficult. Indeed the country is treading dangerously on the edge of the abyss. However, government officials are not seeing the danger or intentionally distorting or sweet mouthing to the number ‘One’ or in a simple term, deceiving number ‘One’. There is need on part of the administration for a thorough scrutiny of growth and its policies in order to rejuvenate the economy and save it from total collapse. A stitch in time saves nine.
Dukawa writes from Kano.