The Nigeria Youths For Atiku (NYFA), a support group for former Vice-President Atiku Abubakar both in Nigeria and the Diaspora, has urged President Bola Ahmed Tinubu to declare a state of emergency on the economy without further delay due to various economic challenges facing the country.
NYFA made the call in a statement issued by its Director of Publicity, Mr. Dare Dada, a copy of which was made available to newsmen.
The group also urged the president to urgently reverse all anti-people policies to avert an imminent revolution in the country.
The group, which met in Akure, the Ondo State capital, urged the president to immediately assemble a strategic team to review the state of the nation’s economy. They noted that it currently appears he does not receive feedback from the streets to understand the situation.
“Rising from our recent strategic meeting in Akure yesterday, all issues concerning the general welfare of the country were considered and reviewed. It was agreed that the APC-led government has failed our nation.
“NYFA leaders are 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 present, it seems the president does not receive feedback from the streets 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,” the group said.
NYFA expressed concern, stating that it was only in Nigeria that the head of immigration would receive an award for generating the highest revenue among government parastatals, yet the level of imports into the country had plummeted.
“How do they explain a situation where import duties are charged in dollars and also at black market exchange rates?” the group queried.
According to the group, it is preposterous to know that exorbitant import duties on all imports discourage people from importing goods, yet this issue has been ignored.
The group’s spokesperson, Dada, noted that every country in the world endeavors to encourage trade between neighboring countries to boost inter-border trading. He said it was regrettable that since the All Progressives Congress (APC)-led government took over in 2015, it has shut the doors to Nigeria’s neighboring countries.
Furthermore, he said the APC-led administration had tripled import duties on goods coming into the country through the nation’s ports.
“This is not only inhumane, but these policies are intended to make life difficult for ordinary 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 to 38 percent. Is there any manufacturing company that will borrow at such an interest rate?” he queried.
“These are CBN-induced rates, and we wonder if Tinubu is unaware of this or simply lacks ideas on what needs to be done.
“This is one of the policies pushing up inflation, which continues unabated as the inflation rate today stands at 35 percent.
“How would Nigerians survive on a minimum wage of N30,000? (Though now being reviewed to N70,000 but yet to be implemented after more than a year of workers languishing).
“This is not only callous; it is a poverty-inducing policy,” he lamented.
Dada said that looking at the former President Muhammadu Buhari-led government, which made several promises but fulfilled none, Nigerians had hoped that President Tinubu, who governed Lagos State for eight years, would do better. However, they have all been left disappointed.
ALSO READ: Insecurity: Military rejigging operations to end crude oil theft in Niger Delta region — DHQ
He posited that no one could run Nigeria without being intellectually alert and conscious, stating that events in the last year have shown that the country should not continue to be run by the APC, or “we may soon become like Zimbabwe.”
Speaking further, Dada said the devaluation of the currency had not only rendered many businesses bankrupt but also compelled some to leave the country, pointing out that more than six multinational companies had left Nigeria in the last year, in addition to those which had already left under the Buhari-led government.
“More than six multinational companies have left Nigeria in the last year. It should be noted that some had left under the Buhari-led government.
“Floating 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 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?” Dada further queried.
“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, while sadly observing that the ruling party has continually spent billions of naira refurbishing the vice president’s residence, presidential palaces, and purchasing private jets while an average Nigerian can hardly feed, warned that it was high time they reviewed all these policies to avert public anger.
He warned that a revolution is close if the current situation in Nigeria is not addressed, urging that it is in the interest of Nigerians to give Atiku Abubakar a chance in 2027 to create a new path to prosperity for all Nigerians.
