Residents of FCT Urge Government to Address Economic Hardship
Residents from various parts of the Federal Capital Territory (FCT) have called on the federal government to implement people-centric policies that can alleviate the current economic challenges facing Nigeria. These appeals were made during separate interviews with the News Agency of Nigeria (NAN), as the country marked its 65th Independence anniversary.
The celebrations, themed “Nigeria @ 65: All Hands-on Deck for a Greater Nation,” featured a mix of religious, civic, and cultural activities, including an Independence Day parade across the states on October 1. The residents emphasized the need for immediate action to address the hardships caused by the economic reforms introduced by President Bola Tinubu’s administration.
Impact of Economic Reforms
Alh. Ibrahim Musa, a businessman in Bwari, highlighted the negative effects of the two-pronged policies of fuel subsidy removal and the unification of the foreign exchange window. He explained that these measures have significantly impacted small businesses, including his own, which is struggling to stay afloat.
Musa pointed out that the removal of fuel subsidies has led to increased transportation costs, resulting in daily price hikes for commodities. This has left both traders and consumers struggling to cope. He mentioned that he often sells goods below their cost prices just to break even and feed his family. Musa expressed concern that if the situation continues, he may eventually go out of business.
He also criticized the lack of effective governance, stating that Nigeria, with its rich natural resources, should not be plagued by hunger. According to him, corruption and poor policies are the main issues hindering progress.
Need for Economic Diversification
Mr. Charles Ibe, a lecturer, stressed the importance of diversifying the economy beyond the oil sector. He noted that the oil-dependent economy is no longer sustainable and urged the government to explore other areas such as agriculture, mining, and tourism to boost the economy.
Ibe acknowledged that while the removal of fuel subsidies was well-intended, it has worsened the economic situation and increased the poverty rate. He suggested that the funds saved from the subsidy removal should be invested in infrastructure development and poverty alleviating programs.
Housing and Transportation Challenges
Mr. Stanley Osho, a civil servant in Gwagwalada, highlighted the growing problem of housing costs in the FCT. He stated that most civil servants cannot afford decent accommodation due to the skyrocketing rent. Osho mentioned that many civil servants are relocating to areas with limited infrastructure and security to reduce costs.
He also pointed out that the high cost of transportation has led to civil servants working fewer days at their offices, which negatively impacts productivity and the economy. Osho urged the government to regulate house rents and provide an affordable public transportation system to improve the quality of life for ordinary citizens.
Power Sector and Minimum Wage Concerns
Mr. Chinedu Okafor, a teacher in Mararaba, Nasarawa State, emphasized the need for urgent reforms in the power sector. He stressed that a steady power supply is essential for attracting investments and fostering business growth. Without reliable electricity, industries and businesses struggle to thrive.
Mrs. Confidence Samuel, another civil servant, highlighted the financial strain on workers due to the current economic situation. She noted that civil servants’ monthly salaries barely cover their expenses for two weeks. The N70,000 minimum wage, she argued, is no longer sustainable given the rising cost of living.
Samuel called for an upward review of the minimum wage and targeted government interventions to boost food production, stabilize prices, and make basic amenities more affordable.
Optimism for the Future
Despite the challenges, some residents expressed optimism that things would improve and Nigeria would become great again. Mr. Akpoko Uloko, a civil servant, emphasized the significance of Nigeria’s independence and noted that the country has made notable progress in various sectors.
Mr. James Adeyemi, a cleric in Bwari, echoed this sentiment, stating that the independence celebration is a reminder of the country’s freedom, hope, self-determination, and opportunities ahead. He urged citizens to foster unity and responsibility while calling on leaders to demonstrate transparency and commitment to addressing national challenges.
Government Response
Sen. George Akume, the Secretary to the Government of the Federation (SGF), acknowledged the difficulties faced by Nigerians due to the reforms implemented by the Tinubu administration. He stated that while the reforms were tough, they were necessary to stabilize the economy, restore investor confidence, and lay the foundation for long-term growth.
Akume noted that the country is witnessing positive results, including easing inflationary pressures, renewed interest in foreign investment, and expanding job creation initiatives. He also mentioned that social intervention programs are being strengthened to cushion the effects of the reforms on the vulnerable.
Akume appealed to Nigerians to remain resilient, united, and committed to the ideals of peace and progress.
