FG’s approach to unproductive economies

Chief of Staff Gani Adams, national coordinator of the Oodua Peoples Congress, urged the federal government to address the security and economic challenges facing the country with practical reforms to save the economy and tackle the foreign exchange shortage. I asked for it to be resolved.

Adams also said it would be difficult to fix the country’s economy with the current approach.

OPC Leader, who is also Yorubaland’s Aleonaka Kanfo, spoke at an event hosted by the Orokun Foundation in Osun Osogbo, Osun State on Friday as part of this year’s Osun Osogbo Festival.

He said by all indications, the president, Maj. Gen. Muhammad Buhari, a retired military officer, is too aloof to fully grasp the enormity of the socio-economic challenges plaguing the country.

He said, “It is really difficult to repair the Nigerian economy with the current approach. Unless the federal government embarks on sweeping economic reforms, there is no guarantee that this economic downturn will continue into next year and beyond.”

Suggesting a way out of the economic crisis, Adams said the federal government must change regulatory mechanisms to stop the endless security scourge.

“The federal government needs to solve security and economic challenges with pragmatic reforms to save the economy and address the foreign exchange shortage.

“The federal government must focus more on economic projects that ensure less wasteful governance and an enabling environment that stimulates the economy.

“Finally, we can easily save a failing economy by creating an economic environment in which local businesses can thrive,” he concluded.

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