Governors Advise Tinubu’s Govt On Measures To Revive Economy

The 36 Governors of the Federation have said there is a need to address the connection between food inflation, naira depreciation and rising insecurity in the country.

The Nigeria Governors’ Forum (NGF) made this known in a communique signed by its Chairman and Governor of Kwara State, Abdulrahman AbdulRazaq, and issued at the end of their virtual emergency meeting on Tuesday.

According to the governors, they called for urgent discussions and synergy amongst stakeholders to improve the situation in the shortest possible time.

The governors said they have agreed that there is a need to reduce foreign exchange demand, saying that this can be achieved by “use of moral suasion to reduce dependence on foreign exchange, imported goods and services”.

They also said the federal government needs to improve foreign exchange supply by “easing commodity export requirements to encourage the exportation and supply of foreign exchange”.

They advised the government to curb the illegal export of solid minerals and increase crude oil production to earn more foreign exchange.

The governors noted that they have resolved to review extant criminal justice laws in states for speedy prosecution of perpetrators of insecurity.

On food inflation, the governors said they have agreed to deploy “emergency food interventions, including incentivising food production, releasing food items from strategic food reserves, and collaborating with food millers and commodity traders”.