Ex-Presidential candidate, Onovo calls for urgent reforms in Nigeria to avert crisis 

Martins Onovo, former presidential candidate, has warned that Nigeria’s economy is approaching a dangerous tipping point, urging the federal government to implement bold and immediate reforms to avert a deeper crisis.

Onovo, in a statement issued on Thursday, said the country’s worsening inflation, rising unemployment,  declining purchasing power among others have pushed millions of Nigerians into economic hardship.

“The Nigerian economy is nearing collapse. The current economic realities demand urgent, practical and transparent reforms that prioritise production, job creation and the welfare of ordinary citizens,” he said.

Onovo stressed that government policies should focus on reviving agriculture, manufacturing and small businesses, arguing that sustainable economic growth cannot be achieved through borrowing alone.

“We must move away from policies that deepen poverty. What Nigeria needs is a productive economy driven by accountability, investment and effective leadership,” he said.

Onovo also called on policymakers to adopt measures that would restore investor confidence, stabilise the exchange rate and reduce the cost of doing business, warning that failure to act decisively could worsen the country’s socio-economic challenges.