Kwara State Governor AbdulRahman AbdulRazaq and chairman of the Nigeria Governors’ Forum (NGF) has called for patience over the ongoing economic hardships being experienced in the country.

The governor said this during a briefing in Ilorin with different segments of the state on efforts of the government to ease things for the people.

The sessions, which lasted for hours, involved labour union leaders from the transport, artisans, market unions and students drawn from various backgrounds in the state.

In a statement signed by Rafiu Ajakaye, Chief Press Secretary to the Governor, AbdulRazaq said that different federal government committees are working round the clock to plug the spiraling fall in the value of the naira and its impacts on consumer goods.

According to him, “We (governors) held a meeting on Tuesday afternoon which I joined through zoom, and it is a continuation of previous meetings. The government is launching programmes to checkmate the rising food prices.

“Our major problem is foreign exchange. We are getting US dollars from sales of crude oil, whereas we have low sales at the moment. We used to experience pipeline vandalism.

“But since the assumption of Tinubu’s government, production of oil has increased. Not only that, the government realised recently that the crude oil we are, and will be getting in the next six months or so had been sold in advance. So, they don’t get value for whatever they are selling now. But gradually, things will change and we need your support to understand us,” he added.

AbdulRazaq said the government is immediately working to force down the cost of key staple foods by releasing grains from the strategic reserve and distributing the same to the people at intervals.

The devaluation of the naira, the Governor noted “meant that merchants from neighbouring countries are mopping up grains from Nigeria.

“This is because it is far cheaper to buy from the country and then resell at higher prices in their own countries, especially in the West African sub-region”.

Acknowledging the spike in inflation, he urged the people to be patient adding that the government’s investments in gas-powered vehicles will manifest after their distribution in the coming months.

Kukutenla:
How are those foreigners able to come into Nigeria, buy grains and take back to their country? Answer: porous borders.
Yet customs declare trillions yearly and we clap for them.
I remember one of the reasons given for subsidy removal is smuggling cheap fuel across the border to sell in other countries.
Maybe FG should kuku raise the price of gains further to discourage the smuggling as they did for fuel.
Mad people everywhere

Ebubu2:


Let Nigerians source for food produce from neighbouring countries and increase its supply into Nigeria.

All of us are enjoying ECOWAS free import duties.

Kukutenla:

At least read and understand before you make comments
The reason given for neighbouring countries mop up of grains in Nigeria is in the report.
So how can it work the other way

Odin13:
Tinubu and his team are clueless and helpless.. Not even a single Human or god from southwest can be of help.

We all know he did nothing as a governor ... he wreck Lagos

.. Fashola of 2007 fixed Lagos state ... with his ideas and template .. Asiwaju did nothing. .. he sat back with his billions to act Godfather

Abuja no be Lagos ..

All those lies ..” Tinubu developed Lagos” has been bursted and rebursted ..

Tinubu Na the real dullard ..

Nigerians have to apologize to Baba Buhari.. even if he sold Nigeria cheap

He’s a million times better than Jagaban of yorubaland

magoo10:
Where are those quack accountants that said borrowing is normal ,they even went ahead to compare Nigeria with other developed nations that borrow.
You have oil but because you borrow too much to fund corruption and embezzlement the oil looks useless today as it is used to pay for the recklessness of yesterday

socialmediaman:

Let's test this projection:

1. Price of oil will stay up because of the conflicts in the middle east and eastern europe, which should be an advantage to Nigeria. The problem, however, is that Nigeria has swapped a lot of crude oil for advance payment, so this may not really make much impact

nairavsdollars:
What about the trillions monthly allocation received by governors?