HomeDocumentaryFeaturesState of Nigerian Economy: Who did this to us?

State of Nigerian Economy: Who did this to us?

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61ST EDITION OF VOICE OF THE MIMBARR 20-08-1445 AH/01-03-2024 CE

By Dr Razaq Bolawaye Uthman

Bismillah Ar-Rahman Ar-Rahim

It is an aphorism that no society survives in the presence of prevailing hunger and deprivation. The current situation of the economy calls for caution and appeal for calm becomes the main gospel against the backdrop of incessant calls for protest on hunger. It must be borne in mind that Nigeria is not exclusive to the harsh economy in this present circumstances. Ghana, North London and other countries have varied degrees of food insecurity but the manner of coordination of the polity wears various outlooks differ greatly.

This is evident as people are currently seen on socio-media queuing up orderly to take turns for food collection. Juxtaposing this with what is obtainable in Nigerian society, it becomes worrisome when the manner of coordination by the authority in charge is considered. Palliatives sharing is an eye – saw. The N30b alleged federal allocation given to each State Governor during December, 2023 in Lagos, even became controversial, opened sway for lots of opportunities to citizens.

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In the first place, rice buying at subsidized price at Nigeria Custom Service Headquarters in Lagos later resulted in at least nine death and many injuries! Who did this to us? Secondly, the Lagos State Government’s sales of food items turned to be profiteering and resales at higher rate in other markets. Not only that, before the Market Women leadership office becomes moribund one would expect a better coordination of market affairs. Of what essence is the capitalist tendency and double standard in this respect? The noble Qur’an 104:1-3 gives the clear picture of the misdemeanor as irrecoverable doom and awaiting casualty of highest order. It says:’Woe be on all insulters dabblers. Who piles up wealth and count same. Thinking the wealth will sustain him…’

The vertex that broke the camel’s back is the manipulative schemes in circulation that arising from cashless policies of the Federal Government. Saddening enough is the corruptive trend in the the banking system. While an established bank cannot afford to give more than N20, 000 to a customer who is in dire need of N100,000 and above as contrast to the nearby POS cash operators who beckon on prospective cash withdrawer with neck-breaking and excruciating cost of transaction. One wonders if anything works in the financial sector in the current situation. Who did this to us?

It is equally important to note at this period that for all hard time there is ease to follow after. This informs the main theme of Qur’an 97:5-6 and the summary of which Qur’an 3:200 serves while saying: ‘O ye who believe, be patient, implore perseverance and be steadfast and fear Allah for you to be prosper.’

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It is on this note that de-dollarization of Nigerian economy is enjoined on the Government to galvanize stable economy. To avoid galloping hike in cost of goods and services, citizens must change from being lethargic to productivity. Royalty and cheap money collection must seize to be spared of possible smear. Power supply should be improved upon to sustain local production. It is of vitality that insecurity is tackled in all fronts to avoid breakthrough in food supply. De-monetization of politics should be ensured to enhance progressive development. Conscientization of every bit of endeavor must be ensured to avoid corruption. And of course engendering love to permeate every sector of life is a sustainable factor in this direction.

READ ALSO: NAHCON awards Hajj seat to Nigeria’s winner of Int’l Qur’an Competition

READ ALSO: SERMON: Preparing for a cashless Ramadan

Drawing the curtains here, we expect you there during the next edition. Ramadan Mubarak in advance and Ma ‘as Salaamah.

Dr. Razaq Bolawaye Uthman, Imam Ansar-Ud-Deen Society Ipaja Branch Lagos State

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