TSA, monetary policies stifling growth, FDI – Group tells FG
The National Rebirth Group (NRG), has called for a review of certain policies of the Federal Government following rising inflation and dwindling Foreign Direct Investments (FDIs). Representative of the group, Comrade Salisu Mohammed, during a World Press Conference held Thursday in Abuja, said policies of the Federal Government were not helping the already deplorable situation but further inflicting hardship on the masses.
He decried the level of inequality, poverty rate, declining value of the Naira and huge education deficit among other prevailing challenges in the country. Speaking on the Treasury Single Account (TSA), former National Vice President of the Nigerian Labour Congress (NLC), Comrade Isa Tijani advocated for the release of money into the system to facilitate trade and business activities rather than storing the funds. He queried the rationale why government had to suspend possession of dollar account, yet yearns for Foreign Direct Investment (FDI).
“You have an inter-dependent economy, you want other people to come and invest, so you don’t tell investors they cannot have dollar domiciliary account. The banking institutions are not the problem but selective individuals. You should tackle those individuals and not the bank.” Tijani stressed that poverty does not recognize tribe or religion, thus it was important for everyone to partake in the nation’s rebuilding process. He stated that the group had devised a sustainable approach to reach out to every member of the society to collectively find solutions to problems confronting the nation.
“If we can face the military, are you saying I cannot face an elected public official? That will make me stupid. I cannot be in the labour movement for the past 30 years and I cannot face a public representative now. We will do it,” Tijani added. Salisu said the group will continue to refuse to accept or reconcile themselves with a dismal reality where poverty is rampant, hunger prevalent and inflation uncontrollable. “NRG openly claims its strong repugnance to a deplorable situation in which majority of Nigerians have been wantonly abandoned to wallow in unspeakable ignorance and disease.
“We reject and shall strongly resist the rising cost in prices of essential commodities which has gone out of the reach of our people who are currently living in abject squalor – it must stop. We want to make it abundantly clear that the drastic negative slide of our currency is unacceptable and would not be tolerated,” salisu said. Salisu noted during the briefing that past administrations paid lip service to the country’s problems, which according to him were fundamental to fostering genuine development. However, he said the group will continuously engage the government in partnership with other interest and socio-cultural associations to ensure the nation is rescued from its sad situation.
