Eminent Igbo elder statesmen under the aegis of Igbo Leaders of Thought (ILT) led by renowned constitutional lawyer, Prof. Ben Nwabueze, have asked President Muhammadu Buhari to quickly devise strategies that would address the immediate causes of the present economic situation in the country and desist from blaming past administrations for driving the nation to recession.
The group expressed dismay over the inability of the present administration to find its feet and address the challenges of governance after over one and half years in office, noting that rather than lead tne nation to economic prosperity, the administration had engaged in actions that have led the nation to its worst economic situation ever.
In a four-point communique issued by Prof. Nwabueze after the group’s meeting in Enugu earlier in the week but made available to newsmen on Saturday, ILT said the activities of the Niger Delta Avengers who are avenging the injustices perpetrated against their area was a major contributory factor fuelling the recession, insisting that something urgent should be done to addess the problem.
“The naira which stood at 50 kobo to $1 in the 1980s and in recent past N179 is now about N500 to $1. A bag of rice which sold recently at N9, 000 now sells at N25, 000 well beyond the minimum wage of the Nigerian workers. School enrolment has dropped drastically, many industries have closed down, banks have sacked thousands of workers, contractors are not paid and so with public servants in many states. Inflation rate hovers around 20 per cent, ” they noted.