Addressing Economic Hardship: Nigerians Urge Federal Government in New Year

Nigerians have set forth the New Year’s objectives for President Bola Tinubu’s administration, emphasizing the urgent need to alleviate the economic hardship that has rendered life unmanageable in the country.

The 2023 Presidential candidate of the Peoples Democratic Party, former Vice President Atiku Abubakar, alongside the Ekiti Elders’ Forum, articulated concerns about the challenging survival conditions faced by Nigerians.

Additionally, stakeholders in the manufacturing sector highlighted the necessity for a detailed blueprint to combat the impact of inflation on economic activities.

This stems from Tinubu’s removal of fuel subsidies, leading to a surge in petrol prices and subsequent inflationary trends, as reported by the National Bureau of Statistics.

Atiku conveyed a message highlighting the trying times, criticizing the government’s economic policies, while the Ekiti Council of Elders acknowledged efforts like the revival of the Port Harcourt petrochemical refinery but urged intensified actions against prevailing economic hardships.

Several voices, including an Entrepreneurship professor, emphasized investing in Nigeria’s comparative strengths like agriculture to boost exports and curb inflation caused by fuel subsidy removal, rising food prices, and import-related inflation.

Leaders from various sectors, including the Manufacturers Association of Nigeria and the Lagos Chamber of Commerce and Industry, highlighted challenges like power, transportation, and policy constraints, urging infrastructural development and prudent monetary policies.

They also stressed the need for the Central Bank of Nigeria to implement well-calibrated policies promoting economic diversification, effective interest rates, and managing the exchange rate to ensure stability and foster a resilient economy.

Experts like the Centre for the Promotion of Private Enterprise Founder emphasized addressing fiscal deficits, energy costs, infrastructure, and environmental considerations as pivotal steps forward.

Politicians like Kwara State Governor AbdulRahman AbdulRazaq and former Senate President Bukola Saraki urged support for government economic reforms and collective efforts towards improving Nigeria’s socio-political and economic landscape.

Even the President of the Senate, Godswill Akpabio, conveyed hope for a better future while urging citizens to maintain faith and support the government’s efforts.

Lastly, Civil Society Organisations encouraged citizens to support security agencies and President Tinubu’s Renewed Hope Agenda, emphasizing the importance of citizens’ involvement in ensuring national security and the success of government reforms.