In a recent stakeholder meeting at the Cultural Center in Kuto, Abeokuta, Governor Dapo Abiodun addressed the pressing economic challenges facing Nigeria. Governor Abiodun expressed confidence that the value of the dollar to the naira would experience a significant crash in less than a month. He attributed this prediction to insights gained from a recent emergency meeting with President Bola Tinubu, where measures to tackle the nation’s economic difficulties were discussed.
Governor Abiodun emphasized the government’s commitment to confront these challenges head-on, highlighting their awareness of possible economic sabotage. In response to the current economic situation, the governor announced plans to provide essential food items such as rice, garri, and beans to citizens. Nearly 100 trailers of rice have been arranged for delivery, with offloading scheduled to begin immediately. The distribution of rice will prioritize the elderly and vulnerable, who will receive the food items free of charge, while others will be able to purchase them at pre-increase prices, ensuring fair distribution until the dollar issue is resolved.
Additionally, Governor Abiodun announced plans to provide palliatives to approximately 300,000 households in the state, including offsetting the backlog of inherited deductions. The state government is committing N500 million monthly towards outstanding deductions, demonstrating its dedication to supporting citizens during these challenging times.
“The state government will commence to offset the backlog of inherited deductions. To this end, we are immediately committing N500 million monthly payments towards outstanding deductions. It is noteworthy that we have continued to pay N10,000 transport allowance to all civil servants for the last 8 months. This brings our total immediate interventions as a responsible State Government to about N5 billion across all sectors of the State economy,” the governor submitted.
While Governor Abiodun’s forecast may raise hopes for economic stability, it is essential to approach such predictions with caution, as currency movements are influenced by various factors. Citizens are advised to seek information from reliable financial experts and institutions for a more accurate understanding of the economic situation.
