Nigeria’s Inflation: Matters Arising (II)

By Don Domnic

In our last discussion we provided a framework for analysis of the economic situation in the country and called for a concerted effort towards charting a road map that will assist the economy to recover and grow.

This requires commitment, sincerity, transparency and maturity. These ingredients are necessary to remain focused and not to be distracted.

Firstly a conference is needed to bring all those central to the economy together for brain storming and implementation of whatever is agreed. Distraction include self serving persons and organizations that will put a wedge on public confidence, for instance calling for an increase in the pump price of petroleum products.

This is diversionary and can plunge the country into chaos as the level of suffering is crushing.

Again inflaming statements that can derail confidence in the government should be avoided, like the statement credited to the president’s media adviser that the president has delivered on his election promises. Where is the evidence? All the metrics for economic growth are on the ground as confirmed by the current inflation figures. Look at transportation, food security and housing just name them! That a few are enjoying courtesy of government appointments does not translate to an eldorado for the majority of citizens.

The time to utilize local technology is now to refine petroleum in small quantities to augment importation because that is what is killing the country.

Farmers need to be surpported to enable them to produce. Setbacks like lack of fertilizer should be resolved. We can blend fertilizer locally.

Weekly briefs of successes are needed to give hope to citizens. The war in Ukraine does not seem to be ending soon. Thus a plan and strategy on how to keep going nay survive irrespective of the war needs to be in place.

Interest rates for farming, agro processing, production of house hold items, call them essential products, is needed.

Life has to go on despite the war in Ukraine.

These measures proposed here must be driven by Nigerians of proven integrity, otherwise we cannot make progress.

The time for positive action is now. Rhetorics must not be part of the recovery plan.

When someone is sick, he goes to hospital where treatment is given after tests. If he does not improve, it is escalated to the next facility to be looked after by a team of physicians.

A period may be reached where the patient’s situation is declared an emergency and placed in intensive care for 24 hours’ monitoring. The team of physicians brief the relatives of the patient periodically to douse tension by calming them through explaining what they are doing.

Nigeria is sick economically and needs to be in intensive care. Pretending otherwise is not the way to go.
If we are determined and make genuine definite, decisive, proactive and pragmatic efforts, we will get out of the woods.

Life can be a lot better than what the country is currently experiencing.
Arise oh Compatriots !

Adadainfo is an online newspaper reporting Nigerian news. Email: Phone: 08071790941

Leave a Reply