Nigerians need to stop all economic sabotages —Tinubu

President Bola Tinubu has said citizens of the country need to eliminate all economic sabotage and change their mindset to foster growth and development.

This was contained in a statement by the president’s spokesperson, Ajuri Ngelale, on Tuesday, conveying the president’s message during his meeting with a delegation of the National Assembly in Lagos.

Tinubu said the vandalism of rail tracks and electric cables among other things sabotage the economy and stifle growth.

He also explained that Nigerians have to change their mindset and value system to eliminate smuggling and all other vices that adversely affect the economy.

“The need (for some citizens) to change the rent-seeking mindset and become more productive to the economy is a challenge. They need to stop smuggling and all economic sabotage.

“Why should we have people removing rail tracks and all that, stealing electric cables, and sabotaging the economy? We must embrace the campaign to change our value system. We must tell our people that the challenge we face is for all of us to change our mindset about our country,” President Tinubu said.

Also speaking on the high price of food items, President Tinubu said over 60 per cent to 70 per cent of the food produced are lost to external damages such as bad roads, banditry, and terrorism.

According to Tinubu, without good roads to transport food to the population, even if farmers grow it, losing 60 to 70 per cent to external damages means Nigerians will have to pay more.

“Yes, there is poverty; there is suffering in the land. We are not the only people facing such, but we must face our challenges.

“We must find a way to eliminate banditry and terrorism so that farmers can bring out food from the farmland. If you do not have good roads to bring the food to the population, even if you grow the food and you are losing 60-70 per cent to damages, you will pay the price,” President Tinubu said.

According to the National Bureau of Statistics (NBS), Nigeria’s inflation rate rose to 33.95 per cent in May 2024, up from 33.69 per cent in April 2024.

This 0.26-percentage point increase reflects a steady climb in the cost of living, with year-on-year inflation rates surging by 11.54 percentage points from 22.41 per cent in May 2023.

Furthermore, Nigeria’s food inflation rate hit 40.66 per cent year-on-year, a substantial rise from the 24.82 per cent recorded in May 2023.