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NASRE: Economic Hardship And Charting A Path Forward

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NASRE: Economic Hardship And Charting A Path Forward

NASRE: Economic Hardship And Charting A Path Forward

 

 

 

NASRE– In the labyrinth of Nigeria’s economic landscape, a pervasive wave of hardship has engulfed the nation, leaving its citizens navigating through soaring costs, diminished purchasing power, and profound lifestyle adjustments. The complex interplay of policy reforms, notably the removal of fuel subsidies and the unification of exchange rates, has ushered in a new era of financial struggle for many, creating a multi-faceted crisis that requires a comprehensive exploration.

 

NASRE: Economic Hardship And Charting A Path Forward

 

 

For instance, Nigeria battles with a record high inflation rate of 28.92 per cent in December 2023 from 28.20 per cent in November, and a food inflation rate of 33.93 per cent, which is driven by increases in prices of staple food items such as Oil and fat, Meat, Bread and Cereals, Potatoes, Yam & Other Tubers, Fish, and Milk, Cheese, and Eggs.

 

 

 

In fact, latest global hunger index report has ranked Nigeria 109 out of 125 countries as one of the countries with the most hungry population in the world. The report, therefore, showed that Nigeria is below countries such as Sudan, Zimbabwe, DR Congo, North Korea, and Guinea.

 

 

The Human Impact

At the heart of this economic maelstrom are the stories of ordinary Nigerians, whose daily life is marred by a worsening financial situation despite earnest attempts to cut costs. Their plight mirrors the struggles of countless others facing the collateral damage of policy decisions.

The removal of the fuel subsidy in June 2023 acted as a catalyst, triggering a domino effect on the prices of goods and services. Families like Shakirudeen Bankole’s, who once enjoyed the ritual of preparing soup every week, now find themselves reducing such practices to once a month due to inflation’s relentless grip on grocery prices.

Government Policy Reforms Amplifying Hardship

The government’s decision to remove the fuel subsidy and unify the exchange rate, while well-intentioned, has created a perfect storm for citizens just recovering from the repercussions of a controversial naira redesign policy. The subsequent surge in prices has affected various sectors, from food and transportation to education and small businesses.

The Central Bank of Nigeria’s move to unify the forex exchange market aimed at transparency and investor confidence has inadvertently intensified pressure on the local currency. Manufacturers grapple with increased costs, and citizens face the harsh reality of adapting to a new economic normal.

Lives In Flux: Stories From The Ground

As voices from different regions echo similar hardships, lifestyle changes become inevitable. Nigerians all over the country narrate how the economic challenges have compelled their family to reduce their three square meals to two, emphasizing the pervasive impact on daily life.

Poultry farmer Namso Udoka highlights the struggle as the price of essential inputs like hybrid feed skyrockets, affecting both production costs and, potentially, the prices of eggs. Civil servants like Monday Ewaoche recount drastic adjustments – from cutting down on unnecessary expenses to choosing public transport over personal vehicles.

The Trickle-Down Effect

From the bustling markets of Kano to the mechanic parts workshops in Ladipo, the fabric shops in Abeokuta, the cry all over has been the negative impact of the economy on the market. The markets that have once bustling with activity are now eerily quiet due to reduced patronage.

Entrepreneurs have also expressed the ripple effect on their businesses. Increased fuel prices translate to higher production costs, forcing them to raise prices and, subsequently, face a decline in patronage.

Our Stand

As Nigerians continue to face the present unprecedented hardship, calls for a reevaluation of government policies and a plea for relief from economic hardships echo nationwide. The National Association of Social and Resourceful Editors (NASRE), therefore, emphasize the need for specific blueprints to address inflationary pressures and revitalize the economy.

To this end, we urge all arms of government to provide economic relief, emphasizing the commitment to delivering on promises despite the challenges. We also advocate for citizens’ involvement in security efforts and encourage unity to navigate these trying times.

In the face of adversity, Nigerians are resilient, adapting to the changing economic landscape while holding onto hope for a better tomorrow. The complexities of this economic crisis demand a comprehensive response, blending short-term relief measures with long-term structural reforms.

Immediate Relief Measures: Urgent steps must be taken to provide immediate relief to vulnerable populations. This includes targeted subsidies, social welfare programs, and food assistance to mitigate the impact of rising prices on essential goods.

Inclusive Policy Reevaluation: Government policies, especially those related to subsidy removal and exchange rate unification, require thorough reassessment. The inclusion of stakeholders from various sectors in policy discussions can help identify unintended consequences and inform more inclusive decision-making.

Economic Diversification: A strategic shift towards economic diversification is imperative. Investing in sectors where Nigeria has a comparative advantage, such as agriculture, can stimulate growth, create employment, and reduce dependence on oil revenue.

Infrastructure Development: Critical investments in infrastructure, particularly in transportation and power generation, can alleviate the burden on businesses and reduce production costs. Improved infrastructure enhances efficiency and competitiveness in the global market.

Empowering Small and Medium Enterprises (SMEs): SMEs form the backbone of Nigeria’s economy. Providing targeted support, including access to affordable credit, skill development programs, and streamlined regulatory processes, can boost their resilience and contribution to economic recovery.

Transparent Communication: Building trust through transparent communication is crucial. Clearly articulating government policies, their objectives, and the expected impact fosters a sense of understanding among citizens, reducing uncertainty and speculation.

Conclusion: A Collective Journey

As Nigeria grapples with these multifaceted challenges, the path forward necessitates a collective effort, innovative solutions, and a commitment to addressing the root causes of the current hardships. Only through unity, collaboration between government and citizens, and strategic reforms can Nigeria emerge from these turbulent waters into a more prosperous and equitable future.

For further inquiries or comments, please contact NASRE secretariat:
Email: [email protected]
Phone: +234 [0] 907 545 7236
Website: nasre.ng

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15th Hijrah: Muslim Clerics Task Nigerians On Good Morals

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15th Hijrah: Muslim Clerics Task Nigerians On Good Morals

as Speaker charges religious leaders on impactful messages

 

 

Nigerians, irrespective of religious affiliations, must begin to embrace good morals and practise honesty, two guest lecturers at the 15th Annual Hijrah Lecture of the Lagos State House of Assembly, have urged.

 

 

 

This is as the Speaker of the House, Rt. Hon. Mudashiru Obasa, also charged Nigeria’s religious leaders to teach messages with greater positive impacts on citizens.

Sheikh Sulaiman Onikijipa Al-miskinubilahi, general overseer of Al-Amani Islamic Organisation, and Sheikh Ridwanullah Jamiu, Chief Imam of the Central Mosque, Lekki Phase 1, said moral conducts and honesty would help create a decent society.

Speaking at the event with the theme: ‘The Increasing Wave Of Moral Decadence In The Society’, which held at the Assembly complex on Friday, the guest lecturers condemned the spate of moral decadence in the society.

Dr. Jamiu told guests that there was need to enforce laws against anti-decent practices like homosexuality, gambling, adultery and corruption.

According to him, Allah blesses those who are kind, just and are morally upright.

“People should run away from three things: indecency, aggression and wickedness. For a society to progress and develop, it must move away from what Allah kicks against.

“Justice means giving people their rights. As a boss, you have duties to your employees. Treat others the way you expect to be treated. Allah commands kindness and generosity,” he said while urging parents to be role models to their children.

On his part, Sheikh Onikijipa lamented what he described as a growing level of corruption in the society.

“At this stage of our existence, we all know that almost everyone is corrupt,” he said while urging leaders to be more transparent.

The cleric further stressed that leaders must be determined to end moral decadence in the society, adding: “See the way the government stopped the abuse of naira with necessary legislation. The same should be done for other forms of moral decadence in the society.

“There is no religion if we don’t have morals. If you observe all the five pillars of the Islam and you are morally corrupt, then you are deceiving yourself.

“If you pray regularly and you don’t have morals, then it is a waste of time. Indecent dressing should be condemned in all places,” he said.

While noting that Nigeria is challenged at the moment, Onikijipa appealed to citizens to be patient with the administration of President Bola Tinubu.

He urged religious leaders and citizens in the country to dedicate a day for fasting and prayer instead of embarking on a protest, which has a tendency to escalate into destruction of properties.

In his remarks, Speaker Obasa said everyone has roles to play in achieving an upright society.

Obasa, who said that Hijrah is meant to celebrate the clerics, added: “You would be proud of the group you belong to when people feel your impact. We should ensure that we change our immediate environment and make things better in our time.

“We must all join hands to make our society better so that we can all have a morally upright place. It is not enough to make laws, people must exhibit good qualities.”

 

 

15th Hijrah: Muslim Clerics Task Nigerians On Good Morals

Eromosele Ebhomele
Chief Press Secretary to the Speaker of the Lagos State House of Assembly.

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Planned Protest: Tinubu, Sultan, Ooni, NSA, IGP In Emergency Meeting

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Planned Protest: Tinubu, Sultan, Ooni, NSA, IGP In Emergency Meeting

Planned Protest: Tinubu, Sultan, Ooni, NSA, IGP In Emergency Meeting

 

The protest against economic hardship, which is gaining traction on social media, has been scheduled to be held across all states in August.

As the planned ‘EndBadGovernance’ protest slated for August draws close, President Bola Tinubu on Thursday entered an emergency closed-door meeting with top traditional rulers, security top brass in his government and governors of his party, the ruling All Progressives Congress (APC). The high-delegation meeting was held at the State House in Abuja, the nation’s capital.

The APC governors were led to the meeting by the Chairman of the Progressives Governors’ Forum and Imo State Governor, Hope Uzodinma.

Some first-class traditional rulers were spotted at the meeting with the President. They include the Ooni of Ife, Oba Enitan Ogunwusi; the Sultan of Sokoto, Muhammadu Saad Abubakar III; and other traditional leaders across the country.

The meeting was also attended by the National Security Adviser (NSA), Nuhu Ribadu; Inspector General of Police, Kayode Egbetokun; as well as ministers and other members of the President’s cabinet.

A delegation of Islamic scholars (Ulamas) later joined the high-powered meeting with the President.

Last-Minute Efforts
Tinubu, former Lagos governor, who was sworn in as President in May 2023, has appealed to displeased youths to shelve the planned ‘EndBadGovernance’ protest slated for next month.

As part of moves to placate aggrieved citizens, the President sent a bill to raise the minimum wage from N30,000 to N70,000 to the National Assembly this week. Both chambers of the legislature speedily passed the bill on Tuesday, awaiting the President’s assent.

On Thursday, the military authorities warned that unscrupulous elements plan to hijack the protest and use it to stage anarchy like what was recently witnessed in East African country Kenya.
The police had also warned against bloody demonstrations come next month just as Uzodimma surmised that the protest could be hijacked and turn violent like the EndSARS nationwide protest against police brutality back in October 2020.

The protest against economic hardship, which is gaining traction on social media, has been scheduled to be held across all states of the Federation as well as the Federal Capital Territory (FCT), Abuja, in August. The organisers of the protest have been faceless.

Prices of food and basic commodities have gone through the roof in the last months, as Nigerians battle one of the country’s worst inflation rates and economic crises sparked by the government’s twin policies of petrol subsidy removal and unification of forex windows.

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Tinubu mourns Iwuanyanwu

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Tinubu mourns Iwuanyanwu

Tinubu mourns Iwuanyanwu

 

 

President Bola Tinubu has extended his condolences to the family of the President-General of Ohanaeze Ndigbo Worldwide, Chief Emmanuel Iwuanyanwu, who passed away on Thursday.

Tinubu’s condolence message is conveyed in a statement signed by his Special Adviser on Media and Publicity, Ajuri Ngelale, titled ‘President Tinubu mourns Chief Emmanuel Iwuanyanwu.’

The family confirmed his demise on Thursday evening in a statement that partly read, “The Iwuanyanwu family of Umuohii Atta, in Ikeduru Local Government Area of Imo State, announces the demise of our patriarch, Chief Emmanuel Chukwuemeka Iwuanyanwu-Ahaejiagamba Ndigbo.

“Chief Iwuanyanwu died on Thursday, July 25, 2024, after a brief illness. He was aged 82.”

 

 

He was an accomplished businessman and notable politician.

Ngelale said, “President Tinubu condoles with the Imo State Government, the friends and associates of the deceased, and Ndi Igbo over this irreparable loss.

“The President affirms that Chief Iwuanyanwu will always be remembered for his remarkable legacy.”

 

 

Tinubu, therefore, prayed for the repose of the soul of the departed elder statesman and comfort for his family

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