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A petroleum engineer, BalaZakka, yesterday, called on government, policymakers, and concerns stakeholders to take action to halt the drifting economy, warning of serious consequences if urgent action is not taken.
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Zakka lamented about the current situation of the economy, with high cost of living, devaluation of naira and unfriendly fuel price to the economy.
He emphasised the need for a strategic approach to economic management.
Zakka highlighted the drastic rise in fuel prices, from ₦160-180 per liter to an astonishing ₦600+ and dollar exchange rate from #200 to over #1000, making life unbearable for citizens.
He lamented the decline in drilling activities, attributing it to exacerbating economic woes.
Zakka’s critique extended to the removal of fuel subsidies without adequate provisions to mitigate its impact, labeling it as the administration’s first major mistake.
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He condemned the neglect of local industries, pointing to the detrimental impact on job creation and economic resilience.
“The biggest mistake of the current administration is wanting to turn the country into a capitalist nation and it will not work like that.”
Zakka pointed at Nigeria’s political elite, accusing them of rampant corruption and hypocrisy, noting their penchant for investing abroad while neglecting local development.
“Only Nigerian leaders buy properties and own assets outside the country. If you see other country leaders, they don’t respect Nigerian leaders because they know they are so corrupt.
“They see on the social media everyday and how Nigerians are suffering and eating from the dustbin.
“Foreign leaders see Nigerian politicians as thief but once they visit their country, they accommodate and entertain them well because of the money they know they will get from them.”
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