x

Nigerians in Diaspora Criticize Government’s Monetary Policies, Demand Critical Review

Call for Re-evaluation of Monetary Policies Amid Skyrocketing Fuel Prices

By Amadin Idahosa

Nigerians in the diaspora, under the umbrella of Nigerian Professionals in Diaspora (NPID), have called for an urgent reassessment of the country’s monetary policies in response to the recent surge in fuel prices.

In a statement released on Thursday, signed by NPID President Dr. Obiora Okereke and Secretary Chief Mrs. Bukola Shonekan, the group expressed deep concern over Nigeria’s economic situation, particularly the recent spike in fuel prices, which has worsened the already challenging economic conditions for millions of Nigerians.

NPID criticized the economic managers of President Bola Ahmed Tinubu’s administration, accusing them of failing to support the President’s vision with competent and effective policies. They cited the poorly implemented floating of the Naira as a prime example.

The group pointed out that, instead of stabilizing the currency and attracting foreign investment, the policy has led to further depreciation of the Naira, resulting in an unstable exchange rate that has driven up the cost of goods and services across the board.

NPID also called for the restructuring of the Nigerian National Petroleum Company Limited’s (NNPCL) debts, which reportedly exceed $6 billion, placing the nation in a precarious position regarding fuel supply.

“We believe that President Tinubu’s vision for Nigeria is clear, but the implementation of his economic policies by his advisers and managers lacks strategic foresight and execution,” NPID stated.

The group urged the President to take immediate action to address the economic challenges facing the country, including reassessing monetary policies, restructuring NNPCL’s debts, and holding economic managers accountable for their actions.

Hot this week

Bingham University, commissions multipurpose laboratory, office complex

By Israel Adamu,JosBingham University, Karu,on Thursday achieved...

Gov. Ododo Hails Appointment of Maj.-Gen. Waidi Shaibu as New Chief of Army Staff

By Noah Ocheni, LokojaKogi State Governor, Alhaji Ahmed Usman...

Nasarawa Farmers Triple Rice Yields with Climate-Smart Farming Innovations

By Abel Zwanke, LafiaFarmers in Nasarawa State have recorded...

KOSIEC Releases Timetable for 2026 Kogi Local Government Elections

By Noah Ocheni, LokojaThe Kogi State Independent...

North-Central APC Forum Backs Mutfwang, Rejects Plateau APC Leaders’ Move to Block Defection

By Israel Adamu, JosThe North-Central All Progressives Congress (APC)...

Nasarawa Farmers Triple Rice Yields with Climate-Smart Farming Innovations

By Abel Zwanke, LafiaFarmers in Nasarawa State have recorded...

Ex-Liverpool Star Explains Why Arsenal Won’t Win the Premier League This Season

Arsenal’s blistering start to the season has reignited hopes...

Ruben Amorim’s Tactical Shift Could Earn Manchester United £24 Million

Ruben Amorim’s bold decision to deploy a striker-less formation...

NGO Trains Plateau Judges, Security Operatives on Enforcement of Child Rights Law 2005

By Israel Adamu, JosThe Child Protection Network (CPN), Plateau...

CACOL Commends Federal Government for Removing Nigeria from FATF Grey List

By Jabiru HassanThe Centre for Anti-Corruption and Open Leadership...

North-Central APC Forum Backs Mutfwang, Rejects Plateau APC Leaders’ Resolution

By Israel Adamu, JosThe North-Central All Progressives Congress (APC)...

Related Articles

Popular Categories

spot_imgspot_img