• Thursday, May 23, 2024
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Non-functional institutions causing economic hardship in Nigeria – Uzuegbu

Building resilience in tough times

An Onitsha, Anambra State-based legal luminary, Ben Chudi Uzuegbu (SAN) has blamed the current economic hardship in the country on the non-functionality of Nigerian institutions.

Uzuegbu, who exclusively spoke with BusinessDay Sunday in Onitsha, said that none of the institutions was functioning optimally, thus, causing the economic hardship and other serious life challenges in the country.

“The truth about the Nigerian situation now is that all aspects of institutions in one way or the other are no longer as they ought to be, from head to toe including the Presidency, Judiciary, Police, Army, Navy and Air Force.

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“All these institutions in Nigeria are no longer functioning and these are what make a nation working.

“I want to use my words guided. The functionality of these institutions is not what the common man had expected. Constitutionally, they are part of hope for the common man to survive in life.

“These institutions needed to be strengthened, and once they are strengthened, the country will do well,” Uzuegbu said.

According to him, “the politicians are not left of out the blame because of their corruptive tendency and unnecessary wealth acquisition.”

He called on the Federal Government to revisit the oil subsidy removal policy and the recent electricity tariff hike.

Uzuegbu said that the subsidy removal policy had adversely affected the entire Nigeria economy and the citizenry.

He also said that the economic advisers who approved it made a terrible mistake to have adopted the removal policy without taken into consideration the initial effects of the implementation.

Uzuegbu said that subsidy policy should have remained as it was, noting that Nigeria’s economic situation finally collapsed since oil subsidy removal policy was adopted by the present administration.

“Let us go back to where we were before. We have not been shouting like this. There is no doubt that the economic situation of the country is dying. The level of hardship being experienced by the citizens of this country is quite enormous.

“The most challenging aspect is that the leadership of the country is not getting it right, and they are not conscious that the hardship has gotten into different dimensions,” he said.

The Chancellor of Diocese on the Niger noted with regret that the so-called palliatives are causing stampede leading to the untimely death of many Nigerians.

“This depicts the extent of hunger, starvation, hardship and difficulties citizens are facing.

“It has gotten to a stage where people who are going with haulage businesses are being mobbed and looted whatever they are carrying by the citizens as a result of hunger.

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“The present regime came out on May 29, 2023 and the first thing they did was to remove oil subsidy. How can you say that you removed oil subsidy without making adequate arrangements on how to take care of the effects of subsidy removal.

“Fuel was sold at N187, but immediately oil subsidy removal was announced, petrol price went up to N500; from N500 to N700 or more in certain places, and that is where we are now.

“They ought to have done subsidy removal by installment. As they are removing it, let them also increase the wages of civil servants and it will also control the economy in such a manner that people will not suffer the way they are suffering now.

“The populace are going through a lot of hardship but the way government is running the economy, there will be a time people will start eating from the dustbin which some people have even started doing.

“There will be a situation people will be dropping dead on the street out of starvation and it will happen because our leaders who are in control of our resources do not know that all these things are happening.

“They don’t even listen to anybody. A lot of people have been airing their views on what to do but government is not prepared to do that,” Uzuegbu said.