Ex-ANAN President tasks Tinubu on insecurity

The former President, Association of National Accountants of Nigeria (ANAN), Dr Samuel Nzekwe, has appealed to the incoming administration of Asiwaju Bola Tinubu to tackle the security challenges ravaging parts of the country.

Nzekwe made the appeal in an interview with the New Agency of Nigeria (NAN) Monday in Ota, Ogun.

He spoke while reacting to the inflation figure released by the National Bureau of Statistics (NBS) last week in Abuja.

NBS had last week reported that the inflation rate had increased from 21.91 per cent in February to 22.04 per cent in March.

He said that making emphatic efforts by the incoming government to address was pertinent as the insecurity challenge was contributing to the continuous inflationary trend in the country.

The ex-ANAN president noted that the farmers were not able to go to the farms due to insecurity problems, leading to food crisis and rising inflation rate.

“The food index released by the National Bureau of Statistics (NBS) data was the highest, due to the inability of the country to have sufficient foods that we were supposed to have as a result of the security challenge.

“In addition, the population is growing fastest than the nation’s Gross Domestic Product (GDP) and all these factors were contributing to the rising inflation rate,” he said.

Nzekwe also said that the hike in the Monetary Policy by the Central Bank of Nigeria (CBN) was causing a continuous increase in inflation rate because the cost of borrowing would be higher and costly.

Besides, the ex-ANAN president called on the incoming administration to encourage production by creating an enabling environment like stable power supply, good road network and adequate security to thrive.

Nzekwe also emphasized the need to encourage the agriculture sector so that the country could be producing foods we consumed rather than bringing cost-push inflation in the form of exchanging dollars to Naira.

He stressed that the incoming government should work on how to bring down inflation by fighting insecurity seriously so that people can start going to their farms.

According to him, the more inflation the country has, the more volatility in the economy.

Nzekwe suggested that they should develop more infrastructure that would galvanise the economy and stem down inflationary trend in the country.

He stressed the need for transparency and accountability on the part of the new administration so that corruption could be reduced.