Prince Adewole Adebayo, the Social Democratic Party (SDP) candidate in the 2023 presidential election, has called on the federal government to urgently support the private sector and stabilize the country’s currency to prevent economic collapse and alleviate poverty.
In a recent statement, Adebayo emphasized the critical need for government intervention to prevent the collapse of various sectors within the private industry, including manufacturing, services, agriculture, transport, and mining. He stressed that maintaining a robust private sector is essential for economic stability and growth.
Adebayo also highlighted the importance of controlling the Naira, Nigeria’s currency, as a fundamental tool in combating poverty. “The Naira must retain its value,” he said. “If you can work in January and use your savings to support yourself through December, then the Naira is functioning as it should. Unfortunately, this is not the current reality.”
He criticized the government’s failure to empathize with the struggles of ordinary Nigerians, noting that many citizens feel their concerns are not being adequately addressed. “The government must understand that they are governing for the people, not just conducting business. Effective governance should reflect positively in the lives of the citizens,” Adebayo stated.
Adebayo also pointed out that while the government cannot employ everyone or create all the wealth, it is crucial to support the private sector to generate jobs and economic opportunities. He reiterated that neglecting the private sector and failing to stabilize the Naira are significant factors contributing to the current economic difficulties faced by Nigerians.
He concluded by urging the government to act decisively to support the private sector and ensure the Naira retains its value to improve the overall economic conditions in the country.
