By Suleiman Anyalewechi
The Bauchi State Governor, Bala Muhammad, has strongly emphasised the need for the President Bola Ahmed Tinubu-led Federal Government to be flexible in its monetary and fiscal policies.
Governor Muhammad who is, also, the Chairman of the Peoples Democratic Party, Governors Forum, at the launch of the Nigeria Development Update in Abuja on Thursday October 17, 2024, passed a damning verdict on the Federal Government’s current economic measures.
Speaking at the event which featured the Central Bank Governor and World Bank Country Director, the Bauchi State Governor looked them in the face and retorted “My brother Cardoso, these policies are not working.
“They need to be reviewed. Let us not resort to blackmail. The purchasing power of the people has drastically diminished.
“What are you doing to reduce hunger? We must help the people. when the reforms started, the subnationals supported the President .
“But now, the macroeconomic policies causing inflation need to be reconsidered . There is hunger and people are suffering. Nigerians are not benefitting from these reforms” Gov Muhammad stated.
He cautioned the Central Bank of Nigeria. CBN, and Federal Government against the temptation of being dogmatic in their implementation of their reforms.
The PDP Governors Forum Chairman called for a re-examination of all ongoing policies and introduction of more effective ones.
According to him, the present hard economic condition in the country has thrown up a very dicey situation which, if not properly handled, may lead to revolt by the people.
He warned that under such volatile development, frustrated Nigerians may vent their anger on the political class which includes himself.
However, the World Bank, despite the challenges being faced by the people, has insisted on the necessities of the ongoing reforms.
Country Director Dr Ndiame Diop said the policies though momentarily harsh, will produce long term cheering results.
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