Business
Abia monarch advises FG to revisit economic policies, bridge infrastructural gaps
A Monarch, His Royal Majesty, Eze Ben Oriaku, Dike the 1st of Umudike Ukwu Autonomous Community, Ikwuano LGA of Abia State, has decried the absence of critical infrastructure in Nigeria, appealing to the President Bola Tinubu led federal government to jettison thoughts about 2027 and focus more on the people’s welfare.
Speaking with Southeastposts, the Monarch insisted that Nigerians are going through psychological trauma following the level of hardship orchestrated by poor economic policies of the federal government, maintaining that time has come for the President to pause and reflect on the policies if it is actually yielding results or assuaging poverty.
He said from his assessment of the scenario in Nigeria, there is no ease on the suffering experienced by Nigerians, the economic instability, currency devaluation, high employment rates, paucity of infrastructures, poverty and hunger among others further establish that the situation in Nigeria is bad and needs urgent attention.
Eze Oriaku said Nigerians currently have lost hope and confidence in the administration of President Tinubu, emphasizing that even in the midst of various appeals for patience by the federal government, the situation instead of improving, is degenerating.
“As Nigerians, we see President Tinubu’s policies as harsh. The economic instability, the currency devaluation, the high unemployment rates, I mean, the inadequate infrastructures, the increment in poverty and hunger, the psychological impacts, because a lot of people are going mad, go to the streets, you see people creating images and talking to themselves, it’s affecting the psyche. This, to us, is harsh.
“But, what do we do? The government says we should give them time, we are in the second year, but we are not seeing any results. If you come to the economic instability, there is persistent inflation, and this has led to sharp increase in the cost of living, house rent, school fees, even buying of food. This makes essential things to be on the high.
The Monarch picked holes with the devaluation of naira by the federal government, insisting that this has further weakened the naira, recalling the days when naira was high above major currencies in sub-saharan Africa.
“Look at the currency devaluation. The naira has weakened and keeps getting weak against major foreign currencies. I remember those days when we would go to Cotonou to buy things, in fact, we laugh at Cotonou people but today, their currency is higher than ours.
He decried the unemployment rate in Nigeria, adding that the unemployment rate in the country is fuelling poverty in Nigeria, saying many homes are struggling on daily basis to make ends meet just as he frowned at the high cost of education in the country, wondering how someone struggling to eat would afford to train people in primary, secondary or tertiary institution.
“Do I talk about the unemployment rate in Nigeria? Many Nigerians have lost their jobs and they are still struggling to make ends meet, contributing to the widespread poverty witnessed in the country. Where do we see the infrastructure? We will be hearing of the high coastal runway or lines. The physical infrastructure is grossly inadequate.
“My honest submission is that the country is not working, it’s a case of the rich getting richer and the poor is getting poorer. Many families struggle to put food on their tables. Access to health care is another challenge. Education is becoming a luxury. Rather than a right. The psychological impact is that the economic hardship has taken a toll on the citizens.”
Eze Oriaku advised the President Tinubu led federal government to revisit his economic policies and make alterations just as he suggested reducing his travels abroad to interface with Nigerians to feel their sufferings. He also suggested soft loans and grants to Small and Medium Scale Enterprises, saying there is need to assist them grow their businesses.
“Our President has traveled to countries and keeps traveling to countries. But let him come down to the states. He should visit states, reduce the number of international travel and travel locally to meet the locals, interact with us. He will know what we are facing. I’m telling you that there is need to invest in infrastructure. We lack so many infrastructures. He should embark on projects that will create jobs. There is also need to provide support to small businesses. They are lacking.The smaller entrepreneurs need loans, grants, and tax incentives, because taxation in Nigeria is becoming something else. We know that countries mostly rely much on taxation.
“I call it imbalance when a country continues to borrow without producing. There is need also to establish some programmes to educate people, to assist and also encourage the financial institutions. Debt is becoming high.
Reacting to the talk about 2027 politics, the Monarch faulted politicians for shifting every attention to 2027, insisting that talk about 2027 should be suspended. The people who elected them in 2023 should be properly cared for with their sufferings reduced to the barest minimum.
“For me, 2027 is too early to talk about now. Because we do not even know if we will see the end of 2025 talk more of 2026. But all the same, as smart politicians, they plan in advance. My advice to them is, well, plan ahead. But there is need for you to do the needful first before talking of 2027. Because a lot of people are hoarding money now that ought to circulate and take care of the suffering masses.
“They are still costing how much House of Assembly will cost, how much state of government will cost, how much Senate will cost, how much Presidency will cost. And instead of them to use these monies to solve problems, they are hoarding it, they are punishing the subjects and the citizens.
“I advise them to suspend activities of 2027 until the time comes. If you do well, your good will speak for you and make the people vote for you.”Eze Oriaku concluded.
