Obanikoro: Nigeria’s Poverty, Not Food Scarcity, Is the Real Issue

In an interview with ARISE NEWS on February 23, 2024, former Nigerian lawmaker and former Minister of State for Defence, Senator Musiliu Obanikoro, shed light on the current state of Nigeria and the challenges the country is facing.

According to Obanikoro, Nigeria is not dealing with a problem of food scarcity, but an issue of poverty and the inability of many Nigerians to have purchasing power at this time.

Obanikoro pointed out that the current situation is a result of the dollarization of the Nigerian economy, which he believes was caused by both the banks and the Nigerian people.

He recalled past instances when the government had to intervene to sanitize the foreign exchange regime and stressed the importance of not casting aspersions on people for a situation that was foreseeable.

The former lawmaker also mentioned that President Tinubu is working to resolve these issues and has a deep understanding of the country’s pains, where it needs to go, and where it is coming from.

However, Obanikoro emphasized the importance of communication and suggested that the government should provide more information about its policies and plans to the Nigerian people.

In the interview, Obanikoro acknowledged that President Tinubu inherited a challenging economic situation, including a ways and means of 23 trillion and a subsidy of almost 2-3 trillion. He also mentioned that the government is borrowing money to pay salaries.

In light of this, Obanikoro called for understanding and patience as the new administration works to address these issues.

When asked about the need to reduce the cost of governance, Obanikoro agreed that it is an important issue and stated that President Tinubu is looking for ways to do so.

He added that the President, being an auditor by background, is always considering ways to reduce costs.

Obanikoro’s interview with ARISE NEWS highlights the importance of addressing poverty in Nigeria and the need for a better understanding of the challenges facing the country.

By working together and supporting the new administration, Nigeria can move forward and overcome these challenges.