THE euphoria of celebration that normally accompanies the yuletide is conceding to despair in different households across the country as spiraling inflation and the rise in prices of commodities in local markets has reduced the standard of living.
VEXATIOUS and troubling is the avoidable pain and suffering the public, especially the low income earners are exposed to while the economy braces for reprieves and struggles to attain balance.
THERE is no denying the effort of the federal government to lessen the pain and frustration from the distressing situation but the plans and policies deployed appear not to have made a noticeable impact since the issues being addressed have worsened and the nation is grappling with an economy which lacks virility and is in dire need of the strength to survive.
WITH implementation of policies and programmes the government has considered as solutions the economy has brightened up in a few areas but not out of the woods. And this has resulted to theories and postulations that give encouraging results that appear at variance with the painful realities on ground.
THE most gripping presentation on the economy is the usual scale of performance underscoring the rate of inflation, with the current record indicating a drop of 2.7% in inflation, which stands at 15.40% against 15.99% in the recent past. But much as this appears to inspire hope, it makes no significant improvement in the actual cost of living and does not impact on the populace.
WHAT is important is a practical result that makes meaning to the average family and this should be stressed in the yuletide, especially since desperation and despondency as a recurring decimal do not give the chance to a speedy economic recovery.
CONFRONTING the nation is a worsening situation which warrants a rethink on approaches to the economy and why a need for a more profound and creative innovation should be stressed as Nigerians worry over increasing poverty caused by mindless onslaughts of social and political interests that are ill-advised but appear uncontrollable.
BESIDES unwavering insecurity that discourages investment in the nation’s economy, are lack of critical infrastructure, such as stable electricity, effective transportation, prudent resources management, forex availability and enabling environment for industrialization. While improvements are noticeable, there is no assurance of a lasting solution soon.
THERE is therefore an urgent need to place emphasis on possibilities to grow the economy for a reasonable influence on the populace against rethorics and habitual presentations detailing a reduction in inflation which contradicts the grievous reality on the ground.