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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

Politics

Top Reps Aspirant, Abudu-Balogun Assures Constituents of Inclusive, Progressive Representation

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Top Reps Aspirant, Abudu-Balogun Assures Constituents of Inclusive, Progressive Representation

 

It is an incontrovertible fact that Watersiders should GET IT RIGHT this time around by overwhelmingly support this distinguished Watersider, Hon. Abudu-Balogun to emerge as the Candidate of APC for the Federal House of Representative in the 2027 elections.

Apart from being a respected politician among the creme-de-la-creme professionals in politics in Ogun State, and undoubtedly a prominent grassroots politician of Waterside extraction, Hon. Abudu-Balogun has seen it all in National politics that will be of great benefits to the Federal Constituency if eventually elected.

 

Hmmm! With the emergence of the distinguished Senator Solomon Adeola (Yayi) as the consensus Governorship candidate of APC in Ogun State, Waterside agitation for enduring developmental projects and its realisation like Deep Sea Port, assumption of Oil producing LGA via Eba Oil deposits, sustainable Electricity Supply would be a walk-over. This anaysis is predicated upon a scientifically established empirical evidence that Hon Abudu-Balogun is a sustainable Bridge between this Federal Constituency and the Powers that be at Federal level.

 

He has the competence, he posseses the Capacity, he has the cognate political experience, he has fortified the developmental blueprint, he has worked tirelessly, and earned the link to facilitate the expected developmental projects to this Federal Constituency.

 

Above all, Hon Abudu-Balogun has concluded political and economic arrangements to galvanise support in all respects from the main actors at the National and sub-national levels in the country for the tasks ahead.

 

TENI NI TENI. This is the time TIME FOR “ACTION” in the realisation of the enduring Developmental Agenda (that has been eluding us from time immemorial) for the entire Federal Constituency, particularly, our dear Ogun Waterside LGA.

 

Distinguished Watersiders, particularly, the comrade professional politicians and the astute Professionals in politics, please factcheck this. Hon Abudu-Balogun is a very popular and honoured politician in Ijebu-North LGA, he is cherished and respected professional in politics in Ijebu-East LGA, he is a consistently consistent rare breed politician in Waterside who has the interest of Waterside development at heart.

 

ACTION needs our support, he needs our endorsement at this political turning point of our dear LGA, the Wealth Side of Ogun State.

Iwe teni, iwe teni, iwe teni o.

Ajuse ri Dede Eni o.

Happy Sunday to us all.

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ADC Unstoppable, Like the Sun — Aregbesola Declares at 8th National Convention

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ADC Unstoppable, Like the Sun — Aregbesola Declares at 8th National Convention

 

 

ABUJA — Former Osun State Governor and chieftain of the African Democratic Congress (ADC), Rauf Aregbesola, has declared that the party remains “unstoppable,” likening its rise to the inevitability of the sun, despite what he described as attempts by the ruling establishment to weaken opposition forces.

Speaking at the ADC’s 8th National Convention, Aregbesola said the party’s existence is rooted in the will of Nigerians and protected by the constitution, insisting that no political pressure or institutional interference could halt its progress.

“Just as no power can stop the sun from rising, so can the ADC not be stopped,” he told delegates.

Blasts Political System, Accuses Ruling Forces of Undermining Democracy

The ADC leader accused the ruling All Progressives Congress (APC) and the Independent National Electoral Commission (INEC) of actions he described as anti-democratic, alleging efforts to frustrate opposition parties ahead of the 2027 elections.

He criticized what he termed the normalization of political “criminality,” arguing that recent political realignments and electoral practices undermine democratic integrity.

According to him, ADC does not owe its existence to any individual or institution but to Nigerians “tired of deceit and mismanagement.”

Harsh Assessment of Economy, Security, and Governance

Aregbesola painted a grim picture of the nation’s condition, citing economic decline, rising inflation, and worsening living standards.

He noted that the naira’s depreciation from about ₦700 to ₦1,400 per dollar reflects what he described as poor economic management, while fuel prices have surged significantly, making daily life difficult for citizens.

On security, he described the current situation as one of the worst in Nigeria’s history, raising concerns about increasing violence and what he called a lack of empathy from leadership in responding to national tragedies.

ADC Positions Itself as Nigeria’s “Rescue Mission”

The former minister said the ADC has, within months, transformed into a major opposition force, claiming it now represents the “hope of the Nigerian people.”

He outlined the party’s rapid structural expansion, ongoing membership drive, and efforts to build alliances with other opposition groups including the Peoples Democratic Party (PDP), Labour Party (LP), Social Democratic Party (SDP), and New Nigeria Peoples Party (NNPP).

Aregbesola emphasized that the party is preparing to challenge the APC in the 2027 general elections through what he described as a “united opposition front.”

Defends Party Leadership Changes, Convention Legitimacy

Providing details of internal restructuring, Aregbesola said the emergence of new leadership, including David Mark as caretaker national chairman, followed due constitutional process and was duly communicated to INEC.

He argued that the commission’s refusal to monitor the convention violates provisions of the Electoral Act, insisting that ADC fulfilled all legal requirements.

Alleges Persecution of Opposition Figures

The ADC leader further accused the government of using state institutions such as anti-corruption agencies and security services to intimidate opposition politicians.

He cited cases involving figures like Nasir El-Rufai and Aminu Tambuwal, describing the trend as a dangerous signal for democracy.

Calls for United Front Ahead of 2027

Aregbesola concluded with a rallying call for Nigerians to support the ADC’s mission to restore “freedom, security, and prosperity,” warning against political apathy.

“A democracy without opposition is an autocracy,” he said, urging citizens to reject what he termed any attempt at political “coronation.”

Closing Note

The convention, themed “So that Nigeria will work for Freedom, Security and Prosperity,” brought together party delegates and stakeholders, marking a significant step in ADC’s preparations for the 2027 elections.

 

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CONGRATULATORY MESSAGE TO APC CONSENSUS GOVERNORSHIP CANDIDATE, SENATOR SOLOMON OLAMILEKAN ADEOLA YAYI

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CONGRATULATORY MESSAGE TO APC CONSENSUS GOVERNORSHIP CANDIDATE, SENATOR SOLOMON OLAMILEKAN ADEOLA YAYI*

 

On behalf of our Grand Patron, Dr. Tunde Osinowo (Pepperito Jnr.), we leaders and Members of Ogun East for Yayi heartily congratulate Senator Solomon Olamilekan Adeola (Yayi) for being the consensus Governorship candidate of our party, APC, in the 2027 election.

This is marvelous and indeed great in the sight of God.

Without mincing words, the choice of Yayi by the party stakeholders is the best and the most surest assurance to coast the Party to victory at the general elections come February, 2027.

We commend the maturity, dispositions and spirit of sportsmanship with which all the Gubernatorial aspirants embraced the decision and extended hands of fellowship to Senator Solomon Olamilekan Adeola Yayi, the Gubernatorial Hopeful.

We beseech God to grant Yayi and all of us, leaders, followers and supporters, the enablements to see him duly elected as Governor of Ogun State at the general election in Jesus mighty name.

We congratulate the incoming Governor of Ogun State and our Excellency in waiting, Yayi.

This is Yayi O’clock.

Praise God!

Mo yo fun e, mo yo fun ra mi.

 

 

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