The founder
and President of the Oodua People’s Congress (OPC) and National Chairman of the
Unity Party Of Nigeria (UPN), Dr Frederick Fasehun has said that since the
coming of the new administration of President Muhammadu Buhari, Nigeria has
degenerated, reports ITRealms.
He made
this known at a press conference in Lagos, saying that the state of the nation
has left him rethink the direction of the All Progressive Congress (APC) change
agenda as Nigeria’s domestic issues has been amplified and magnified negatively.
“If truth
be told, the last one year of the regime of President Muhammadu Buhari and APC,
has witnessed unprecedented change, in line with the CHANGE mantra of the
current ruling party. Unfortunately, the change so far has headed downhill,
with Nigeria having her domestic issues amplified and magnified negatively. The
Naira is at its all-time low. Inflation has spiraled to an all-time high. When
Buhari took over last year, a sachet of pure water went for N5, but now it
sells for between N10 and N15.
The
Nigerian Naira, he said, has diminished among world currencies stressing that when
Buhari took over on May 29, 2015, the Naira exchanged for ₦205 in the parallel market, “but today,
Naira exchanges for N385 against $1, and N505 against £1.”
Importers,
Fasheun said, are starved of foreign exchange, hence Nigeria has never had it
this bad. “Worse still is that the petroleum industry/commodity which supplies
the available foreign exchange is on the official counter being starved of
foreign exchange to import products for local consumption,” he lamented.
Okoli
Vincent/GEE
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