President Bola Ahmed Tinubu has continued to hold a “crucial” meeting with some members of the organised private sectors with a view to finding lasting solutions to the current economic hardship facing the country.
The meeting holding at the Presidential Villa, Abuja had in attendance Alhaji Aliko Dangote, President, Dangote Groups; Tony Elumelu, Chairman, Heirs Holding and Transcorp Plc; Abdulsamad Rabiu, Chairman, BUA Group; Wale Tinubu, and other manufacturers/industrialists across the private sector.
This is coming amid the economic current hardship confronting Nigerians.
The current hardship is occasioned by the astronomical rise in the exchange rate of dollars to naira.
As at the close of work on Friday, FMDQ data showed that the naira depreciated to N1,665.50 per US dollar from N1571.31 on Thursday.
Meanwhile, the Central Bank of Nigeria announced draft guidelines in a sweeping policy intervention for BDCs, including a ban on street trading and a fresh per capita share requirement for registration.
Following the marathon meetings and drastic measures, there was marginal drop exchange rate as a Dollar is now N1300 at the parallel market while a bag of 50kg Cement is now N9,500 in major parts of Akure.
Some economic analysts who spoke with ObazMediaOnline, a subsidiary of ObazMedia Conglomerates in Akure, Ondo state Capital said, the development has only shown that government may not be totally blamed for the economic woes currently facing the country but some shylock businessmen taking undue advantage of the situation to make outrageous profits.
An Akure based businessman, Chike Ahanonu, queried why the sudden drop in the prices of Cement & other items if FG had not threatened bring back Commodity Board or open boarders to flood markets with the items in question.
A renowned Agronomist, Mr. Joe Fesobi warned that the federal government must curtail the excesses of some industrialists and pay particular attention to the fraudulent practices by some CEOs in both private and public sectors whose preoccupation is profiteering.
A business woman, Mrs. Julie Enikanoshaye who pleads passionately with President Tinubu to open boarders for only food items suggested that, government must whittle down if not totally eradicate the absolute and enormous powers of the middle men in the chain of business.
In her opinion, they are the major cause or causes of astronomical increase in the prices of goods and services.
