Vice Chairman, Senate Committee on Communications, Senator Solomon Adeola (APC, Lagos West) has called on President Muhammadu Buhari to urgently reel out palliatives measures to be taken in addressing the recession that Nigerian economy has slipped into.
Adeola in a statement signed by his Media Adviser, Kayode Odunaro in Abuja, yesterday said that it is worrisome that government at all levels are not treating the issue of recession with the urgency it requires to ensure that its duration is not unduly prolonged with untold suffering and even deaths for majority of our people.
He explained that the recession at this time is not peculiar to Nigeria, stressing that the difference here is that not much is being done to assured the people that government is on top of the situation in terms of marshaling out implementable policies to address the plight of groups that are hardest hit by the continuing recession.
“I must say that one is yet to see any urgency in providing palliatives for the poor and collapsing industries and other corporate bodies leading to serious job losses and a growing sense of despair among the general population.
“Experience in the past shows that one of the most reliable ways to tackle recession is to spend money on productive sector as well as welfarist spending to put money in the pockets of the poor,” he said
The Senator regretted that so far the economic team of the government particularly the Finance and Budget and Planning Ministers, the Director General of Budget Office and the CBN Governor appeared to have failed in their approach to rise up to the occasion in what is ordinarily an economic emergency.
According to him, the economic team was expected to be dishing out policy options and direction in forms of palliatives for the poor, bail out/loans for distressed organizations like Innosson Motors and airlines in dire straits.
He said: “As we confront the unpalatable recession one is worried to see unelected ministers of government go about in convoys of SUVs with a horde of assistants and security aides as if the recession is just a word that has no effect on their lives and ways of doing things while we elected representatives are daily confronted by helpless constituents who look up to us for solutions to their economic challenges.
“This period calls for austere lifestyles and cutting of recurrent expenditure of government at all levels to free funds for interventionist palliatives for the people and organizations that provide jobs for the people as well as diversification of the revenue base of the government.”


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