Atiku Abubabar has
insisted that restructuring Nigeria is the only solution to the problem
confronting the nation. The former vice president has said at the launching of
a book titled “We are all Biafran” a month ago that Nigeria risked being a
failed state due to its structure although this was countered by the current
vice president, Professor Yemi Osinbajo who suggested two weeks ago that
diversification of the economy would end the country’s problem. Osinbajo had
said that even if the country us restructured, the same problems would still
linger if economic solution is not put in place. The Punch reports that the
former vice president however insists that he believed in restructuring as that
was the key to solving Nigeria’s problems. Atiku said this in a paper he
presented at the Late Gen.Usman Katsina Memorial Conference at the Umaru Musa
Yar’Adua Memorial Hall, Murtala Square, Kaduna, on Saturday, July 30. “As a
country we have struggled to live up to this ideal. We have obviously not done
enough to realise national integration, and the survival of our democracy is
still a work in progress. “The cost to us has been enormous. We even fought a
civil war to forcibly keep the country together. “Since the various
amalgamations that created the entity that we now call Nigeria, different
segments of Nigeria’s population have, at different times and sometimes at the
same time, expressed feelings of marginalisation, of being short-changed, dominated,
oppressed, threatened, or even targeted for elimination.” He said different
groups were aggrieved by what they perceived as a form of neglect from the
government and this has affected the country’s unity. He said he was a believer
in the existence of one Nigeria and urged the different components to look at
restructuring as a solution. He noted that many Nigerians from outside the
North hold the view that the main beneficiary of the status quo has been the
north which was not true. “The north and Nigeria have not been served well by
the status quo and there is need for change. “Who among us who went to primary
and secondary school in the 1960s had much to do with the federal government? Did
the northern regional government wait to collect monthly revenue allocations
from Lagos before paying salaries to its civil servants and teachers or fixing
its bridges and roads?” He urged Nigerians irrespective of their tribe or
religion to consider restructuring the country as a solution to be embraced.
Nigeria’s foreign exchange reserve fell to $25,780,765,483 (25.78 billion) as of August 16, the lowest we have seen since 2005. The drop was down 2.11% from a month ago. The Nations external reserves dropped below $26 billion for the first time on the 5th of August 2016 after it closed at about $25,971,610,949. In fact, the external reserves has dropped by about $480 million dollars in August alone compared to just $100 million in the whole of July. Ironically, the current balance of $25.9 billion is worth about 80% more than what it was in Naira following the depreciation of the naira after it was floated. The CBN has in the past few days ramped up sales of dollars at the interbank in the hope that it will create liquidity in a market that is yawning gape to swallow forex after nearly almost two years of intense rationing by the CBN. The Naira weakened to its lowest ever at the interbank after it closed at about N362.5/$1 in midday trading. The Naira will eventua...

Comments
Post a Comment