A South West chieftain of the New Nigeria People’s Party (NNPP), Ambassador Olufemi Ajadi Oguntoyinbo, on Wednesday, tasked the Federal Government to rejig monetary policies and improve infrastructural facilities in Nigeria
Ambassador Ajadi who gave the task in a statement issued to mark this year’s edition of Democracy Day, lamented that despite uninterrupted 26 years of democratic rule in Nigeria, the country still struggles with infrastructure decay and a weakened currency.
The NNPP chieftain urged the President Bola Tinubu – led Federal government to urgently formulate policies that will improve the Naira’s rating with other countries’ currency as well as taking a decisive action to improve infrastructure facilities in the country.
He stressed that the present economic situation in Nigeria has shown sadly that Nigeria has lost its status as the Giant of Africa, saying, ” democracy all over the World brings developments to the people but wondered why successive democratic governments in the country have made Nigeria worse than they met it”.
Ambassador Ajadi pointed out that the exchange rate of Naira to Ghana Cedis and CFA currency of eight independent states in West Africa which make up the West African Economic and Monetary Union (UEMOA; Union Économique et Monétaire Ouest Africaine) reflects the shambolic nature of Nigeria economy.
Expressing deep concern over the negative impacts of the dwindling value of the Naira on various sectors of the economy, he urged the Federal Government to swiftly address the issue to alleviate the hardships faced by the citizens.
According to Ambassador Ajadi, the ” parlous state of the Naira has led to a surge in prices of commodities”, adding, ” it is effectively eroding the purchasing power of the citizens.
“As prices soar, the Nigerian people find themselves grappling with increased financial strain. From an entrepreneurial standpoint, sustaining production becomes a formidable challenge, prompting manufacturers to pass on additional costs to consumers”, he said.
The NNPP Chieftain while also calling on the governments at all levels to improve infrastructure facilities in the country especially the roads, said one of the infrastructure that needs urgent attention is the network of roads that link various states in Nigeria.
He also called on the Federal Government through the Ministry of Aviation to improve the deplorable state of Lagos International Airport, saying, Terminal 1 of the Murtala Muhammed International Airport (MMIA), Ikeja, Lagos, has poor ventilation, non-functional air conditions and has thus become an uncomfortable waiting ground for both local and international passengers.
TAGS: AJADI, DEMOCRACY DAY