The Nigeria Youths for Atiku (NYFA), a support group for former Vice-President Atiku Abubakar’s presidential ambition, has called on President Bola Tinubu to address the nation and reverse certain policies to mitigate the threat of protests.
Prof. Gold Emmanuel, President of NYFA, made this appeal in a statement signed by the group’s Director of Publicity, Mr. Dare Dada, on Saturday in Lagos.
Emmanuel acknowledged that Nigerians have the right to protest the current socio-economic situation, emphasizing that the Nigerian Constitution obligates the government to protect protesters from attacks and infiltrations by hoodlums.
“It is no longer news that Nigerians are presently going through the worst of times given the current economic situation in Nigeria,” Emmanuel stated. “The government of President Bola Tinubu should address the country at this trying time, rather than shutting people up. This is not the practice in any advanced country where democracy reigns supreme. The reversal of all anti-people policies in Nigeria is also necessary amidst calls for a nationwide protest.”
Emmanuel stressed that the government cannot exist without the people and urged respect for citizens’ rights. “We must tread carefully and listen to the people that we represent,” she said.
She also urged protesters to conduct themselves peacefully without resorting to violence. “We also admonish the President to instruct all security agencies to protect them such that no life is lost.”
The NYFA president advised President Tinubu to investigate concerns raised by Nigerian businessman and Dangote Group Chairman/CEO, Alhaji Aliko Dangote, about oil cabals. Emmanuel emphasized the importance of taking such whistle-blowing seriously to bring prosperity to the long-suffering people.
“While still awaiting government action on this intelligence provided by Dangote, we urge the government to reinstate subsidy by reducing the price of PMS to N200. This is imperative since it is no longer news that the government is still paying the same subsidy. Since it is expected that Dangote will commence sales of refined products by August 2024, this will help the government control the price of the product, thereby alleviating the suffering of Nigerians.”
Emmanuel criticized the government for appearing to represent only privileged Nigerians and stressed the importance of prioritizing the interests of the masses. “The interests of the masses must be on the front burner, else we will get to a point where the rich will not be able to have sound sleep anymore because the poor are hungry and angry.”
She also called on the President to instruct the Central Bank of Nigeria (CBN) to reduce the Monetary Policy Rate (MPR), currently at 26.75%, and provide palliatives to the real sector, which has been severely impacted by FX volatility. “The provision of safety nets and tax holidays of not less than six months to the existing manufacturing companies in Nigeria will not only assist them to regain stability but will also encourage those that have left to have a rethink. Keeping MPR at 26 per cent will definitely discourage borrowing. The real sector cannot sustain such strangulating interest rates. The CBN should also be magnanimous to reduce the Cash Reserve Ratio to at least 35 per cent to 40 per cent which currently stands at 45 per cent.”
Emmanuel concluded that these measures would enable commercial banks in Nigeria to have more funds to lend to both manufacturers and consumers.
The NYFA has chosen to support Atiku Abubakar, the Presidential candidate of the Peoples Democratic Party in the 2023 general election, and encourages him to run again in 2027. “This support was borne out of our belief in his 2023 manifesto, which was tailored towards solving some of the economic and political problems currently bedeviling our nation at the moment,” Emmanuel said.
There have been reports that various groups of Nigerians are planning a nationwide protest from August 1 to August 10 over the rising cost of living and economic hardships.
