From Okwe Obi, Abuja
Nigerians in the diaspora, under the umbrella of Nigerian Professionals in Diaspora (NPID), has called for an urgent reassessment of the country’s monetary policies, following the recent hike in fuel prices.
NPID President, Dr Obiora Okereke, Secretary, Bukola Shonekan, in a statement yesterday expressed deep concern over the current state of Nigeria’s economy, particularly the recent spike in fuel prices, which has exacerbated the already challenging economic conditions for millions of Nigerians.
Okereke blamed the economic managers of the President Bola Ahmed Tinubu administration for failing to support the President’s vision with competent and effective policies, citing the poorly implemented floating of the Naira as a glaring example.
He noted that instead of stabilizing the currency and attracting foreign investment, the policy has resulted in further depreciation of the Naira, leading to an unstable exchange rate that has driven up the cost of goods and services across the board.
He also called for the restructuring of the Nigerian National Petroleum Company Limited (NNPCL) debts.
“We believe that President Tinubu’s vision for Nigeria is clear, but the implementation of his economic policies by his advisers and managers is lacking in strategic foresight and execution,” he said.