Doyin Okupe Urges Bold Economic Measures Amidst Nigeria’s Economic Crisis
In a candid advisory, the two-term presidential aide has urged President Bola Tinubu to take decisive action in response to the ongoing economic challenges facing Nigeria, causing a surge in the cost of living for citizens.
Quoting the former spokesperson, “In these critical times, a six-month state of emergency in the economic sector is paramount to address the deep-seated issues affecting our nation.”
Okupe further recommended the suspension of the 2024 budget implementation, emphasizing the need for a recalibration to tackle the pressing economic concerns. “A temporary pause in the budget execution can provide the space needed for strategic planning and resource reallocation.”
Recognizing the security threats exacerbating the economic woes, the spokesperson called for the mobilization of the Army and security agencies, emphasizing the importance of quelling insecurity to create a conducive environment for economic recovery.
Addressing the rampant oil theft plaguing the nation, Okupe urged the President to employ all available means to halt the illicit activities. “Stopping oil theft is crucial for safeguarding our economic resources and fostering stability.”
To boost the economy, he recommended a significant increase in oil production capacity to 3 million barrels per day, with a specific focus on efficient operations by the NNPC and Dangote Refinery to produce 50 million liters of Premium Motor Spirit (PMS) daily.
“In pursuit of self-sufficiency, Nigeria should be prepared to quit OPEC if necessary,” stated the spokesperson, underlining the commitment to securing the nation’s economic interests.
Highlighting the overriding objective, he also emphasized the need to regulate fuel prices, aiming for a range of N300 to N400 per liter and maintaining a maximum exchange rate of N750 to $1. “Stabilizing these key economic indicators is crucial for restoring confidence and affordability.”
In a bid to address food security concerns, he recommended a massive importation of staple food items, advocating for a comprehensive approach involving all tiers of government to contribute and participate in these crucial programs.
