The Nigeria Youths For Atiku (NYFA), a support group of former Vice-President Atiku Abubakar in Nigeria and Diaspora, has urged President Bola Tinubu to declare a state of emergency on the state of the economy in view of the various economic challenges facing the country.
The group’s Director of Publicity, Mr Dare Dada, in a statement on Friday also appealed to the President to urgently reverse all anti-people policies to avert imminent revolution in Nigeria.
Dada urged the President to immediately assemble a strategic team to review the state of the economy.
“Rising from our recent strategic meeting in Akure yesterday, all issues bothering on the general welfare of the country were considered and reviewed. It was agreed that the APC-led government has failed our nation.
“NYFA leaders were of the opinion that President Tinubu needs to assemble a strategic team to review the state of the economy.
“The President needs to declare a state of emergency on the economy now. At the moment, it seems the president does not receive feedback from the street to understand the current situation.
“This is someone who is acclaimed to be a grassroots politician. How can you be reputed as a grassroots man and yet the people within your own party are suffering and, sadly, you cannot even do anything about it? It is a pathetic situation.”
Dada said it was only in Nigeria that the head of immigration would receive an award for making the best revenue amongst the government parastatals, and yet the level of imports into the country had plummeted.
He asked how do they explain a situation where import duties were charged in dollars and also at black market exchange rates?
According to him, It is preposterous knowing that exorbitant import duty on all imports will discourage people from importing goods, yet a blind eye has been turned to this.
Dada noted that every country in the world endeavors to encourage trade between neighboring countries to encourage inter-border trading.
He, however said it was sad that since the APC-led government took over in 2015, they had shut the doors to their neighboring countries while they tripled import duties on goods coming into the country through their home country ports.
“This is not only inhuman, but these policies are intended to make life difficult for common Nigerians who are not involved in politics.
“It is against all logical thinking to expect the economy to thrive in a country where financial institutions are lending at 36 per cent to 38 per cent, is there any manufacturing company that will borrow at such an interest rate?
“These are CBN-induced rates, and we wonder if Tinubu is not aware of this but is bereft of ideas on what needs to be done.
“This is one of the policies pushing up inflation, and this has continued unabated as the inflation rate today stands at 35 per cent.
“How would Nigerians survive this at a minimum wage of N30,000? (Though now being reviewed to N70,000 but yet to be implemented after more a year that the workers have been languishing).
“This is not only callous; it is a poverty-induced policy,” he said.
Dada said looking at the former president Muhammadu Buhari-led government that made several promises and fulfilled none.
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The publicity secretary said they had expected that someone who once worked at Mobil Nigeria and ran Lagos for eight years could do better, but they had all been left disappointed.
He said no one could run Nigeria without being intellectually alert and conscious saying that events in the last year had clearly shown the country should not continue to be run by the APC, or we may soon become like Zimbabwe.
Dada said the devaluation of the currency had not only rendered many businesses bankrupt but also compelled some to leave the country.
“More than six multinational companies have left Nigeria in the last year. It should be noted that some had left Nigeria under the Buhari-led government.
“Floating of the naira is not a bad idea, but floating our currency when we are still running an impoverished economy is not only against all economic theories but quackery in its entirety.
“Instead of the government channeling our limited resources towards production and giving tax holidays to local industries to at least allow them to stabilize from the post-COVID era.
“They have continued to double taxes. Which country will grow given the current attitude of the government towards local industries?
“The APC government has failed Nigerians with their woeful performance. At a time when we need to tighten our collective belt and sacrifice for our country,” he said.
Dada said the ruling party had continually engaged in spending bizarre allocations in billions to refurbish the vice president’s residence, presidential palaces, and purchasing private jets.
He asked if that had been the priority when an average Nigerian could hardly feed?
Dada said it was high time they sat down to review all these policies to avert people’s anger, saying that the revolution was close to happening if something was not done about the current situation in Nigeria.
He noted that it was in the interest of Nigerians to give the candidacy of Atiku Abubakar a shot in 2027 to create a new path to prosperity for all Nigerians.