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The concerned group under the auspices of New Era For Sustainable Leadership and Accountability Initiative, NESLAI, has affirmed that those driving the economic agenda of President Muhammadu Buhari, have failed woefully in their duties, and ensured a “free-fall” of the economy.

NESLAI made this known in Abuja on Thursday, during a World Press Conference on ‘The State Of Nigeria Economy And The Failure Of Nigerian Economic Team To Correct Key Indicators Of The Economy And The Need For Their Urgent Replacement’.

Executive Director of the group, Comrade Edwin Femi, listed some of the promising economic programmes including: “N-Power; Survival Fund to small and medium enterprises; andAnchor Borrowers’ Programme”, which he said were not properly executed.

“Those saddled with the responsibility of setting our country’s economy on a solid footing to protect the economy from the elements have failed in their responsibility to the people and in justifying President Buhari’s confidence in them.

“President Muhammadu Buhari came into office on a mantra of CHANGE at a time when Nigeria was in dire need of change, from the corruption, cronyism, patronage politics and blatant stealing of our collective patrimony that threatened to uproot the country from her very foundations.

“We are extremely concerned that certain components of his administration have failed to match the President’s vision with the required technical competence and sincerity of purpose that the president himself espouses.

“We are constrained to address this issue and call attention to the officials involved to either shape up or ship out of the administration to allow for the president’s objective to become a measurable reality in the life of the average Nigerian.

“It is a shame that under the watch of, and in spite of the best efforts of Mr. President, some elements within the administration have failed to man their posts well and allowed a free-fall to a situation where virtually every consumable in Nigeria has more than doubled in price in the last five years,” NESLAI said.

The group further worried that “in this information age the Central Bank of Nigeria is led by base instincts and reactionary policies if the random pronouncements being made by the CBN governor can be described as policies”.

It added that “the CBN has turned itself into an enabler of mass impoverishment to the detriment and at the expense of the average Nigerian beats imagination as no known logic can explain the draconian monetary policy and regulatory regime being run by Mr. Godwin Emefiele, as he trying to hoodwink Nigerians to look the other way while a few individuals enrich themselves off massive Forex spreads that even for a developing country are alarming”.


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