Productivity on a Steep Decline – Doyin Okupe

Disappointed over the state of economic activity, Politician Doyin Okupe has stated that productivity in Nigeria has taken a decline following the insecurity bedevilling the country.

Doyin lamented over the banditry, insurgency and herdsmen clashes farmers which have driven farmers out of their lands while open grazing has devastated farmlands.

He further advised that an inclusive national summit ‘preferring sustainable solutions to insecurity’ is now a national imperative.’

Read the tweet below;

INSECURITY AND GALLOPING INFLATION.

I think in ordinary terms inflation simply means, “too much money chasing too few goods.”
In Nigeria however, I can’t fathom where the “too much money” bit comes from.

Maybe we can say it’s a “sustained money
supply” that is, the continued payments for goods and services by governments by all means possible (CBN’s Ways & means) that indirectly create the pseudo increase in money supply.

Whatever economic model subsists in the country, the fact is our productivity is on a steep decline nationally.
This is more visible in the agriculture sector.

Insurgency, Banditry and Herdsmen/farmers clashes have virtually sent farmers away from their farms while open grazing itself have devastated farmlands across the nation.
The inflation rate of 18+% is bad news for the managers of our economy.

When coupled with ever-increasing food prices, a dual evil of hunger and poverty is unleashed on the populace.
The Nigerian government must urgently find solutions to insecurity before it snuffs the life out of our people and threatens our very existence.

An all-inclusive national Summit on proferring sustainable solutions to insecurity is NOW a national imperative.