Painting a grim picture of likely negative consequences of recent policy changes devolving from subsidy removal and unification of the foreign exchange market, the experts warned that the economy might collapse unless desperate efforts are made to intentionally increase local production with more exports.JAMB Result
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The panelists, Dr Biodun Adedipe, Mr Kehinde Sogunle and Mr Paul Alaje took turns canvass their submissions in the two-hour online interview discourse which took place via Google Meet and transmitted live by an Abeokuta-based radio station, Sweet 107.1FM.
Speaking on how Nigeria got into the present economic state, an economist, Mr Paul Alaje noted that the successive economic policies of various governments over the past years were what brought the country to its current economic downturn.
Alaje said: “Nigerians are being punished for our economic sins. We got here because of wrong choices, we got to this point because many of our people are not asking questions and are thinking that things will soon get better.NYSC Portal
“We need to make correct economic decisions for us to be forgiven”. Nigeria should make a policy that some of the things we are importing we should be producing. We have to multiply our export. There is no two-way to it.
“What Nigeria needs is a structural solution, not a financial solution. These policies should go beyond monetary. Our economic decisions are not just not right, making policies that further devalue our naira and the so-called Unification.”
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