PRESS STATEMENT
Adenekan Knocks Tinubu’s Economic Pitfalls, Issues Four-Point Demand.
A public policy analyst and a media expert, Comrade David Adenekan has knocked Tinubu’s Economic Pitfalls, Issues four – Point Demand.
In a press statement made available to our newsroom in the early hours of Thursday morning, Adenekan said the latest reports from the National Bureau Of Statistic (NBS), shows that the inflation rate has risen to 32.7% as at September 2024. While on a month to month basis, it increased by 0.3% from 2.2% recorded in August 2024 to 2.5%. The food inflation rate as at September stood at 37.77%.
This is alarmingly high and a strong factor responsible for the severe hunger and untold hardship currently being experienced across the country.
Suffice it to say that, the inflation rate in the country defies all logic with the price of staple foods like rice, bread, beans, cassava, grains and tomatoes that have continued to soar higher on a daily basis. A 50kg bag of rice is now N140k, a crate of eggs is N7k (depending on the size), 3 tubers of yam is about N12k, a kongo measure of gari is about N3k and a small plastic of beans sells for N7k.
Nigeria’s poverty rate is high with multiple indicators of poverty index used to measure it. According to the National Bureau Of Statistic (NBS), 63% of Nigerians are multi-dimensionally poor, which is over one – quarter of all possible derivations. This is higher in rural areas (72%) than in urban areas (28%).
Fuel pump price per liter is between N1030 to N1150, depending on the location. The shortage of electricity and the erratic power supply in most parts of the country is unspeakable.
Also, the rising surge of insecurity across the country is alarming. The invasion of a new dangerous terrorist group called Lakurawa into the north west geo political zone, particularly in Sokoto state, has led to a rising surge of insecurity in that part of the country. Yes, the bandits are almost having a free field in some parts of Zamfare, Kebbi, Sokoto, Niger, Kaduna, Katsina and Borno states.
In view of the above worsening economic hardship and the deplorable security conditions, I hereby make a 4 point demand:
- Declare an emergency action on food security.
It is imperative to note that calling on Nigerians to embark on subsistence farming will not bridge the large gap of deficit in food production and increase or provide raw materials for our agrarian industries. Subsistence farming cannot handle the equipment needed for rubber plantation and cocoa production to provide raw materials for the manufacturing industries and exports to boost our foreign reserve earnings. The cost of machinery, such as tractors for medium commercial farming has skyrocketed. Subsistence economy will not grow our GDP in a market economy. Stop blowing the call for subsistence economy out of proportion. - “I have researched the prices of pump fuel in other oil producing countries like Venezuela – $0.18 per gallon, Saudi Arabia – $0.48 per gallon, Libya – $0.54 per gallon, Turkmenistan- $0.71 per gallon and Bahrain- $0.78 per gallon.” – Adenekan stated.
It is based on the above verified information that one needs to query the rational behind selling a litre of fuel for N1,030 (about $0.58) when you can buy a gallon (about 4 liters) for at most $0.78 in other countries listed above.
In addition, one needs to evaluate other by-products of crude oil like bitumen, naphthalene, Napalm, petroleum jelly, refined asphalt, diesel, kerosene and microcrystallin wax; and posit that some of these by-products can be used as subsidy to make petroleum very affordable or even free for the masses.
“Can NNPCL show Nigerians a transparent financial statement for these by-products? Is this not another hidden monumental corruption in the oil industry?” Adenekan asked.
“As a concerned citizen, I demand the immediate removal of the Group Managing Director, Myele Kyari for his very poor management of NNPCL and the huge level corruption in the oil industry. Equally so, the calling for him to be sacked is based on the fact that, he was the Group Managing Director of NNPCL under the Buhari’s administration that grounded the country’s economy to almost a state of comatose. A concocted fake figure of the national reserve at $37 billion against $3 billion as the real figure as reported by Morgan Stanley in Punch Newspaper.” – Adenekan argued.
“Prejudice apart and without mincing words, I am joining other concerned citizens across the country to demand for the immediate reversal of the pump price to what the Nigeria masses can afford.” Adenekan declared.
- Adenekan (a public analyst) in the press statement, expressed concerns about the alarming rate of banditry, kidnapping, armed robbery and farmers/herders clashes which are responsible for the very low level of production in our farmlands across the country. Farmers are afraid to go to the farm for fear of being killed or kidnapped.
Adenekan (a human right activist) make a strong demand that President Bola Ahmed Tinubu should swiftly move into action as the Commander-In-Chief of the Nigeria Armed Forces to nip the situation in the bud, the rising surge of insecurity across the country, particularly in Sokoto, Borno, Kebbi, Zamfara, Bauchi, Benue, Kaduna, Niger and Katsina states by using the military intelligence and technology (drone) to flush them out from their hidden places.
- Finally, Comrade Adenekan, a media expert, in a terse statement and as part of its press statement, said; “I have watched with utter dismay, the display of federal might and naked power in the recently concluded governorship elections in Edo and Ondo States and, going by the reports of many observers, it was another sham election conducted under the leadership of Prof. Yakubu Mahmood. I demand the immediate removal of Prof. Mahmoud and a total re-organization of INEC to meet the mandate given by the people to the electoral body, which is to conduct free and fair elections in the country.
He further demands that the appointment of the Chairman of INEC should no longer be by the President.” – Adenekan stated.
“You cannot be a judge in your own case.”
“The Board of the National Election shall be established by the act of parliament. It will have 6 members and each of the member shall be commissioner representing each of the six geo political zones and the Chief Justice of the Federation shall be the chairman of the board, making it 7 members to cut a tie. The Board of National Election shall advertise the position of Chairman of INEC to the general public and make two recommendations (after vetting the names of those that applied for the job) to the Senate (Upper Chambers of the National Assembly) that will now vote to approve the nomination of who will be the Chairman of INEC. Also, such nomination will only receive simple majority of the votes of the Senate. There shall be no formal confirmation from the President.” – Adenekan declared.
“A stitch in time saves nine.”
Only Time Will Tell.
David Adenekan Is The Editor Of Shekinah International Magazine And A Media Expert. He Is Also The Secretary Of Afenifere Diaspora USA.
davidadenekan5@gmail.com.
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