• Thursday, July 18, 2024
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Asiwaju of Yorubaland says fighting inflation is difficult to achieve

Asiwaju of Yorubaland says fighting inflation is difficult to achieve

…urges Nigerians to be patient

Khamis Badmus, Asiwaju Musulumi of Yorubaland, Edo, and Delta States, has said that inflation is a complex issue that cannot be solved overnight, particularly with regard to food prices.

Speaking with newsmen at his residence in Osogbo, Badmus emphasized the need for cooperation and understanding between the Nigerian’s Government and the citizens to mitigate the effects of the rising cost of living.

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While calling on Nigerians to exercise prudence and avoid wastage to weather the economic storm, the business mogul expressed optimism that the country’s economic struggles would soon improve, urging citizens to remain hopeful and resilient.

He noted that the policies of Government often do not show instantaneous results but take time to mature and yield results.

He said, “On the issue of inflation, I think the President has already addressed that; he said there is going to be a methodic process that might take some time, but at the end of the day, things will ease down.

“People want us to overcome inflation instantaneously, but it will happen gradually. For example, the diesel we used to buy for N1500 is coming down. I believe other prices will follow. We just have to be patient.

“I will show a practical example of mine, the Nepa bill. We were paying about N5 million before, but the last two months now, we are N15 million on a monthly basis, and we can’t pass that cost on to the final product.

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“So I have to close down some sections of my company that consume a lot of electricity, then concentrate on areas that will consume less electricity.

“For any serious government, when a policy is made, it’s always difficult to reverse that decision.”