Abuja, Oct. 17, 2024 – Gov. Bala Mohammed of Bauchi State on Thursday advised the federal government to review its monetary and fiscal policies.
He said the policies were not producing the anticipated results of poverty alleviation and employment generation.
Mohammed gave the advice while speaking at the World Bank Nigeria Development Update in Abuja.
The event was attended by Indamit Gill, the Senior Vice President of the World Bank; Diame Diop, the Country Director for the World Bank in Nigeria; Wale Edun, Minister for Finance and Coordinating Minister for the Economy and Yemi Cardoso, the CBN Governor, among others.
The governor said there was the urgent need for change these policies due to the growing hardship in the country, adding that the policies were harming the citizens.
“With all humility, please review your policies, they’re not working.
“Even the growing FAAC allocation is not enough because inflation is eating it up and the purchasing power of the people is dwindling, we are all living with these people and I can tell you we are at risk of being lynched because of your policies,” the governor said.
He said although states’ revenues had increased, there were lots of deficits in terms of power and infrastructure.
Mohammed advised the federal government to embrace the reality and not dogmatic in its approach.
He said the plight of ordinary Nigerians had worsened, with hunger and economic hardship creating a volatile situation.
“When the reforms started, the sub-nationals supported the President. But now, the macroeconomic policies causing inflation need to be reconsidered.
“There is hunger, people are suffering, and Nigerians are not benefitting from these reforms,” he said. (GBN)
