Chief Mba Ukweni (SAN), a respected legal figure and former Chairman of the Nigerian Bar Association in Calabar, expressed concerns that the 25 years of democracy in Nigeria have led to increased hardships for its citizens, stating that the income earned by people is no longer sufficient to cover their needs.
During a phone interview reflecting on 25 years of democracy in the nation, he commented that the depreciation of our currency is significantly low due to poor economic decisions made by our leaders.
Chief Ukweni SAN maintained that until the leaders see the need to produce for export to attract more foreign exchange, the country will continue to wallow in poverty.
He said that with abundant resources and vast land space coupled with the population, the country is blessed; it consumes and borrows more than it produces, which makes it practically impossible for the country to grow economically.
He said labour today is fighting for an increase in wages to assuage hardship, but if you ask me, I would suggest that they should rather fight for economic stability by pushing for the system to be productive; we are only consuming, he stated.
The legal luminary maintained that as long as there is no production in the country, the economy can never be strong our naira will continue to be weak, no matter how much is given to workers as salaries
He said in the ’70s and ’80s, before the devaluation of the naira, Nigeria had one of the strongest economies because it was a production economy, naira was used in the international markets to trade, like in our neighbouring countries in West Africa, and naira was ahead of some foreign currencies
The ex-chairman of the NBA Calabar branch attributed all the challenges in the country to current and former leaders who prioritise their personal interests and those of their families over the country’s well-being.
ALSO READ THESE TOP STORIES FROM NIGERIAN TRIBUNE
