By David Adenekan
YEARS BEFORE 2023, I predicted that the economy would take a downturn and that there will be a severe hunger in the land; the masses will suffer under the ruling party, All Peoples Congress (APC).
However, my own prediction was based on economic indicators, not a prophecy.
In addition, I opined in my prediction during the first term of former President Mohammadu Buhari that APC will be so ruthless to stay put in power at the detriment of the suffering masses.
Suffice it to say, the current economic hardship has not gotten to its expiration date, it is still going to get far worse as our local currency (Naira) may cross the threshold of N2000 to a dollar by January 2025, based on economic indices.
Please, do not call me a prophet of doom, I am not one at all.
It is simply based on factors like inflation rate, poverty index, price index, gross domestic products (GDP) as reported by National Bureau Of Statistic (NBS).
This is coupled with the fact that; our local currency is still in a free-fall mode.
Today, the Naira depreciated further from about N1,645 to a dollar to N1,660 in the forex exchange market.
However, it is noteworthy to say, there are some forces, including fifth columnists that are fighting against some of the good policies of President Bola Tinubu – for example local government financial autonomy as declared by the apex court, Supreme Court.
But the buck stops at his table to fix the problems of economic hardships in the country.
A classic example is, what is the Group Managing Director of the Nigerian National Petroleum Corporation Limited (NNPCL), Mele Kyari, that has failed woefully to run a productive, accountable and transparent company still doing in his government at this time?
Is Mele Kyari serving the interest of President Tinubu or the overall interest of the country?
Truth be told, the failure and negative effects of Mele Kyari’s bad leadership in managing and ensuring an affordable retail pump price in Nigeria has brought unprecedented untold hardship to the citizenry.
Moreover, many of the acolytes of the President that threw their weight behind the removal of oil subsidy are now coming to terms with the reality that the removal of oil subsidy the way he did on his first day in office during his inauguration speech, was a very wrong step in the right direction.
It is counterproductive indeed!
In the final analysis, all the current efforts by President Tinubu to find a lasting solution to the current economic hardship in the country is like “putting a square peg in a round hole.”
Emphatically, President Tinubu will need to have a round table discussion with his economic team to do a job performance evaluation for “a cabinet rejig.”
Please, tell President Bola Ahmed Tinubu that, Nigeria’s Economy isn’t good.
He must fix it.
“A stitch in time saves nine.”
Time will tell.
David Adenekan writes from Chicago, Illinois; he Is the editor of Shekinah Magazine and a media expert.
Opinions expressed by individual columnists are their own and do not necessarily reflect the views of policies of the website’s management.
