The Chief Executive Officer of Drekz Analytics Limited, Mr. Oladele Abdulahi Olawale, has pleaded with Nigerians to be patient with President Bola Ahmed Tinubu, describing current national economic challenges as deep-rooted and demanding sufficient time for corrections.
Olawale in a statement he issued in Abuja on Sunday, also advocated a declaration of a state of emergency in the Nigerian export sector to remove all bottlenecks hampering exports of goods and services from Nigeria to clients and customers abroad, calling it the fastest route to strengthening Naira.
Speaking on the growing economic dislocations, the Drekzz CEO reminded Nigerians of close to a decade of mismanagement of the economy which Tinubu inherited and which has necessitated current root and branch reforms that the President and his team are implementing.
“ To place the Nigerian economy on the path of sustainable growth, the reform has to be deep-rooted. This will bring further disorientation to the economy before we can start to enjoy a measure of normalcy. The rot is too deep and we can’t get over it so quickly.
“ As much as the pain is too much, we must place the economic crisis in proper perspective. All hands must be on deck to salvage the situation. The President is reducing the cost of governance. This must be elaborated across federal governance. We must deepen the fight against corruption and then we must export more as a nation to stabilise the naira.
“ We should not play politics with the national economy. I call on Nigerians to rally around the presidency to manage this economic emergency. We have to collectively secure ourselves as economic prosperity will deflate the security challenges and enhance collective wealth and prosperity.
“It is on this note that I also call on Mr. President to declare an emergency in the export sector of the economy. An urgent meeting is needed to address bottlenecks in the export process. Mr. President may want to know that it is extremely difficult to export products from Nigeria, to earn forex. The system appears so structured to frustrate exporters.
“ The agencies involved in the export process need to be on the same table. The procedures and processes need harmonization. Exporters should be freed from the current blockages and impediments. If we free exporters to export, Nigeria will earn more forex and the pressure on Naira will ease.
“The Ministers of Finance, and Trade and Investment and others should meet as urgently as possible. Let exporters be free to export to address the exchange rate crisis.
