OPINION
State Of The Nation And The Positivities To Look Forward To | By Mawutin Imoleayo Deji
For the short term, PMS should be made available for consumption moving forward while the battle to make life easier continues
The situation of the country is not satisfactory owing to the high inflation figures that arose from two of the major reforms of the administration led by President Bola Ahmed Tinubu which are the removal of subsidy and the floating of the legal tender.
The whole situation is tense and stakeholders have been harping on outcomes to either instil confidence or preach patience, on the other hand, some people have been labelling the administration a failure already. It is a common thing in Nigeria to have opinions especially as it affects the majority and according to the laws of humanity, every individual is liable to their opinion and is right to whatever they submit.
Away from all the negativities surrounding the whole situation, I am very sure there is/are positive sides to all the reforms and something in me says that we will smile at the end. Looking at the rate of our imports, I researched myself to know that working refinery/ies will automatically reduce the surge for foreign currency, especially the dollar by a large percentage. Crude Oil remains our biggest export and the by-products also remain our biggest import therefore, a balance in trade will reduce importation to increase exportation and our beloved Naira will get strengthened meaning that, inflation will reduce and prices of commodities will follow suit.
A country can not solely depend on the importation of everyday commodity goods and we expect the economy not to be in a state of hullabaloo as it is now but I think we only need the sincerity of our leaders to turn things around as the platform is already erected.
For the short term, PMS should be made available for consumption moving forward while the battle to make life easier continues. I also need to let us know that the security situation around the country especially border communities should be reviewed so that goods and services can move freely in and out of the country as that will further strengthen the naira.
To an extent, the law of elasticity will set in as the inflation gets to a peak and it will return to stability. I think the FG needs to review its reforms and discover ways to input measures that will further soften the hardship that will make citizens enjoy while the long-term efforts are in gear.
Already, alternatives to our energy needs are being rolled out like the CNG conversion kits being provided by the Federal Government for commercial vehicles and some lucky private vehicles. All we need is the political will and sincerity of persons in the corridor of power.
May Nigeria succeed. ...Continue Reading
