We want a lasting solution to Naira depreciation, insecurity and inflation – Governors speak out

February 9, 2024 Joshua Samuel

Governors, under the umbrella of the Nigeria Governors’ Forum (NGF), have demanded solutions to the three major challenges facing the nation being rising food prices, a weakening currency, and growing insecurity.

In a communique issued Thursday after an emergency virtual meeting, NGF Chairman Governor AbdulRahman AbdulRazaq called for “urgent discussions with and synergy amongst stakeholders” to tackle these interconnected issues.

Governor AbdulRazaq, of Kwara State, disclosed that the forum is deliberating with National Security Adviser Malam Nuhu Ribadu and representatives of the Department of State Services to address the crisis.

”We all agreed that it is important to address the connection between food inflation, naira depreciation, and rising insecurity across parts of the country from a systemic perspective.

”The governors also agreed on immediate actions, including reduction of foreign exchange demand by use of moral persuasion to reduce dependence on foreign exchange, imported goods and services,” he said

The communique mentioned “emergency food interventions”, including incentives for farmers, releasing food from strategic reserves, and collaboration with food producers and traders to ensure immediate availability.

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Joshua Samuel

A conscientious writer with a knack and passion for story telling which spans across different sectors and segments. I love telling stories in writing and bringing quality, authentic and timely information to everyone everywhere.

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