- The Sir Ahmadu Bello Memorial Foundation recommends targeted social safety nets to aid vulnerable groups affected by subsidy removal
- Urgent intervention to control inflation through price stabilization mechanisms and policies addressing stagnant wages are deemed crucial measures
In response to Nigeria’s economic struggles, the Sir Ahmadu Bello Memorial Foundation has put forward eight key recommendations for the Bola Ahmed Tinubu-led administration.
Engineer Abubakar Gambo Umar, the director-general of the foundation, conveyed their concerns regarding the current state of the Nigerian economy in a statement released yesterday.
“We advocate for targeted social safety nets,” expressed Umar, emphasizing the necessity of short-term measures to aid vulnerable groups adversely impacted by subsidy removal. These measures may encompass cash transfers, food subsidies, or other forms of assistance to alleviate immediate hardships.
Additionally, urgent intervention to control inflation through price stabilization mechanisms is deemed crucial. The government is urged to prioritize implementing measures to curb inflation, including monetary policies fostering stability and price control mechanisms ensuring essential commodities’ affordability.
Recognizing the significance of boosting Nigerians’ income, Umar stressed the need for policies addressing stagnant wages. Regular salary reviews and adjustments are proposed to ease citizens’ financial burdens.
Moreover, enhancing security is imperative to combat the prevalent insecurity in the country. This entails intensified efforts against insurgency and banditry, ensuring farmers’ safety and protecting their farms, while striving to restore peace in affected regions.
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