Corrupt Politicians Responsible for Naira Downturn, Says Ex-Bauchi Gov, Yuguda

In a recent conference on tackling poverty in Northern Nigeria, organized by Arewa New Agenda (ANA), former governor of Bauchi State, Isa Yuguda, shed light on the causes of the current downturn of the naira in the forex market.

According to Yuguda, corrupt politicians who mop up dollars and store them in their houses and foreign accounts are largely responsible for the currency’s decline.

Yuguda also mentioned that the food crisis currently facing the country is a result of insecurity, panic buying, and hoarding of food commodities by Nigerian citizens.

He emphasized the need for a deliberate approach to address poverty in Northern Nigeria and urged the economic team of President Bola Tinubu’s government to adopt policies that would tackle the economic challenges across the country.

Furthermore, Yuguda called on the Federal Government to invest in the area of security to tackle the current security challenges facing the country.

He stressed that addressing these challenges would help alleviate the food crisis.

On the subject of fuel subsidy, the former governor said its removal was necessary due to the high levels of corruption in the oil sector.

He argued that only a few individuals and countries were benefiting from the payment by the Federal Government.

As Nigeria grapples with these issues, it is crucial for the government to take decisive action to combat corruption and implement policies that will foster economic stability and security in the country.