Shina Abubakar, Osogbo
Aareonakakanfo of Yoruba land, Iba Gani Adams has warned that high spate of insecurity and dwindling economy are setting Nigeria up for a dangerous tailspin.
Adams stated this at the weekend while speaking with Journalists in Osogbo, after the attending the 2022 edition of Osun Osogbo international festival.
He said the spiraling inflation, rising energy costs,scarcity of foreign exchange and dwindling value of the naira are bleeding the Nigerian economy.
The Yoruba generalissimo stated also that the frightening spate of insecurity, dire economic situation, with stuttering education system, rising debt profile, depleting foreign reserves and rising fuel subsidy expenses hanging on Nigeria’s neck are sources of worry for the people.
“It is obvious that President Muhammadu Buhari is too aloof to have a full grasp of the enormity and complexity of the security and socio-economic challenges bedeviling Nigeria.
“It is genuinely difficult to fix the Nigerian economy with the present approach.
“There is no guarantee that this economic slide can last beyond next year, unless the Federal Government embark on holistic economic reforms.
“The Federal Government must change the regulatory mechanism in order to stop the never- ending security scourge.
“The Federal Government should resolve the security and economic challenges with pragmatic reform to save the economy and tackle forex scarcity”.