Aare Ona Kakanfo of Yoruba land, Iba Gani Adams, has issued a warning that Nigeria is headed for a deadly tailspin due to a high spate of insecurity and a faltering economy.
Adams made this statement, on Saturday, August 13, after visiting the 2022 Osun Osogbo International Festival and interacting with journalists in Osogbo.
According to him, the Nigerian economy is suffering from the country’s increasing inflation, rising oil prices, lack of foreign currency, and falling value of the naira.
The terrifying wave of insecurity, the dismal economic climate, Nigeria’s faltering educational system, rising debt levels, depleted foreign reserves, and rising fuel subsidy costs, according to the Yoruba generalissimo, are all causes for concern for the populace.
It is obvious that President Muhammadu Buhari is too aloof to have a full grasp of the enormity and complexity of the security and socio-economic challenges bedeviling Nigeria.
It is genuinely difficult to fix the Nigerian economy with the present approach.
There is no guarantee that this economic slide can last beyond next year, unless the Federal Government embark on holistic economic reforms.
The Federal Government must change the regulatory mechanism in order to stop the never- ending security scourge.
The Federal Government should resolve the security and economic challenges with pragmatic reform to save the economy and tackle forex scarcity”.