Senate President, Godswill Akpabio, has attributed the ongoing hardship in Nigeria to certain monetary policies and actions implemented by the former Central Bank governor, Godwin Emefiele.
Speaking at a function in Abuja on Sunday, Akpabio pointed out that Emefiele’s tenure left behind multiple debts and economic challenges for the current administration to tackle.
Akpabio expressed, “The kind of debts and economic mess that we are in, a lot of people do not understand. President Obama said you cannot know Washington until you get to Washington, so by the time we went in to look at the economic situation of the country, It was terrible.”
He continued, emphasizing the impact of Emefiele’s decisions, “So you know the Former Governor of Central Bank, we don’t even know what to charge him with.
“The hunger in the land is because of the kind of policies and actions that they took. We are battling to make sure that Nigerians can sleep with their eyes closed. We are battling to ensure that Nigerians can afford three square meals in a day.”
Nigeria is currently grappling with a rising inflation rate, standing at 29.90 per cent, and a food inflation rate of 34.41 per cent, according to data from the Nigeria Bureau of Statistics (NBS). In response to these economic challenges, the president recently convened a meeting with 36 governors to address issues of hardship and insecurity. During this meeting, the administration affirmed its commitment to avoiding food importation, citing its association with rent-seeking and corruption.
To alleviate the burden of rising food prices, the president announced the release of 40,000 tonnes of grain to stabilize the market. Additionally, discussions with the Rice Millers Association of Nigeria resulted in a commitment to provide 60,000 metric tons of rice to meet demand and mitigate food scarcity.
