President Muhammadu Buhari should take a critical look at the widening gap between the rich and the poor. His campaign promises was to close or reduce drastically gap between the rich and the poor.
From what is happening now, the rich are getting richer while the poor are getting poorer, and the prevailing economic situation is a clear indication of the inability of the current regime to stimulate the various indicators of a vibrant economy.
The crash of the naira is one of the indicators of the inefficiency of the finance regulating agencies of federal government and Buhari needs to work harder before the stifling economic effect on Nigerians will take a different turn.
In fact, the masses are already constrained by the realities on ground to take up all brands of verbal missile at their disposal against Aso Rock.
Besides the orchestrated anti-graft war that is targeted at presumed enemies, the President has failed to meet the yearnings and aspirations of Nigerians, in terms of anticipated dividends of democracy.
This is right the time for Mr. President to make amends and a constructive opposition is needed for any democracy to be groomed into a robust and viable system of government that can effectively lead to an egalitarian society.
It continues to beat my imagination why a man like President Buhari who spent so long a time to take a shot at the Presidency, could still be waiting to take hand-outs from the metro pole through his largely unproductive foreign trips that are yet to translate into what can be termed a solution to our escalating economic problems.
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What is happening in the downstream sector of our petroleum industry is an embarrassment to Buhari who promised milk and honey during his journey to Aso Rock in the first 100 days in office.
He is simply overwhelmed with the plethora of challenges without clear cut policy statement on how to tackle the contemporary hydra–headed problems of Nigeria. The falling exchange rate which has triggered a tripartite problem of high prices of commodities within the eight months span of his reign has not been looked into or put a stop to. Recent happenings compel most Nigerians to question the Aso Rock authority if the retrogressive change we are experiencing is going to have a terminal date or we shall remain so until the foundation of our economy is shaken beyond redemption.
People are worried about the debt seeking mind-set of our President who is pre-occupied with the business of stockpiling more debilitating debt profile for our children unborn provided he can serve the narrow interest of a few politicians who are not ready to do anything different from our dirty yesterday men and women.
It is not wise enough to think of borrowing in a country where its single treasury account (TSA) is hitting N2.2 trillion daily and Nigerians demands explanation from Aso –Rock why we are quick to run cap in hand to countries that are not earning as much in their national economies to beg for what can be afforded by our wealthy barons. I stand to be corrected, Nigeria is one of the richest countries in the world, the borrowing culture in the midst of affluence is an error of human judgement.
Olorogun Okiemute Okwagbe is a Warri-based business mogul.
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