Editor
PRESS STATEMENT
PUBLIC policy analyst and media expert, Comrade David Adenekan, has strongly criticized President Bola Ahmed Tinubu’s handling of Nigeria’s economic and security challenges. In a statement issued on Thursday morning, Adenekan highlighted alarming statistics and issued a four-point demand to address the worsening situation.
Inflation and Hunger
Citing the latest figures from the National Bureau of Statistics (NBS), Adenekan noted that inflation has soared to 32.7% as of September 2024, with food inflation reaching a staggering 37.77%. Month-to-month inflation also rose from 2.2% in August to 2.5% in September. These figures reflect the dire conditions facing Nigerians, as prices of essential commodities like rice, bread, beans, cassava, and tomatoes continue to climb.
Examples of Price Hikes:
A 50kg bag of rice: ₦140,000
A crate of eggs: ₦7,000
Three tubers of yam: ₦12,000
A small plastic of beans: ₦7,000
A “kongo” measure of garri: ₦3,000
Adenekan warned that the country’s economic trajectory is unsustainable, with 63% of Nigerians living in multidimensional poverty—most of them in rural areas.
Four-Point Demands:
1. Emergency Action on Food Security
Adenekan urged the government to prioritize food security, arguing that calls for subsistence farming are insufficient to address Nigeria’s food production deficit. He emphasized the need for large-scale mechanized farming to meet the demands of both local consumption and export markets.
“A subsistence economy cannot grow Nigeria’s GDP in a market-driven economy. The cost of farming machinery, like tractors, has skyrocketed, further compounding the challenges for medium and large-scale farming,” Adenekan asserted.
2. Fuel Price Transparency and Subsidy Reform
Adenekan questioned the rationale behind the exorbitant fuel prices in Nigeria, which range between ₦1,030 to ₦1,150 per liter, contrasting this with prices in other oil-producing nations:
Venezuela: $0.18 per gallon
Saudi Arabia: $0.48 per gallon
Libya: $0.54 per gallon
Bahrain: $0.78 per gallon
He criticized the Nigerian National Petroleum Corporation Limited (NNPCL) for its lack of transparency regarding the financial management of crude oil by-products. Adenekan called for:
An immediate reduction in fuel prices to levels affordable for the masses.
The dismissal of NNPCL Group Managing Director Mele Kyari for alleged mismanagement and corruption.
A transparent audit of the NNPCL’s operations, particularly the revenue from by-products such as bitumen, naphthalene, and petroleum jelly.
“The economic hardship caused by high fuel prices is unjustifiable in an oil-producing nation,” Adenekan argued.
3. Urgent Measures to Tackle Insecurity
Adenekan highlighted the rising wave of insecurity, particularly in Sokoto, Zamfara, Kebbi, Borno, and other northern states, exacerbated by the emergence of a new terrorist group, Lakurawa. He stressed that insecurity has significantly disrupted agricultural activities, leaving farmers too afraid to work their lands.
He called on President Tinubu to deploy military intelligence and advanced technology, such as drones, to neutralize banditry and terrorism across the country.
4. Electoral Reforms and INEC Restructuring
Decrying the use of federal might in the recently concluded governorship elections in Edo and Ondo states, Adenekan described them as “sham elections”. He called for the immediate removal of INEC Chairman Prof. Mahmood Yakubu and proposed sweeping reforms to the electoral body:
The Chairman of INEC should no longer be appointed by the President.
A National Election Board, chaired by the Chief Justice of Nigeria, should oversee the selection process.
The Senate should approve the INEC Chairman through a transparent, majority vote.
“You cannot be a judge in your own case. Electoral integrity is crucial for our democracy,” Adenekan stated.
Adenekan concluded his press statement with a warning: “A stitch in time saves nine. Only time will tell if these issues will be addressed effectively.”
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.
