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From Ighomuaye Lucky, Benin
An Edo State businessman, Mr. Osazee Gift Osazuwa, yesterday, called on the federal government to wade in and tackle the falling rate of the naira against the dollar.
He made the call in Benin while addressing Journalists as regards the current exchange rate of the naira against the dollar.
Osazuwa, who is the Chief Executive Officer of Osas Gift Global ltd, said on Saturday, the naira was sold for 1,000/$ at the black market, a trend that is very worrisome.
He said the falling strengthen of the naira against the dollar is not helping them in the electronics business as they have to spend more to buy goods due to the exchange rate.
Osazuwa said if the naira keeps falling without any action from the federal government to salvage the situation, it might get worse and thereafter push them out of business.
Osazuwa, while expressing confidence on president Bola Tinubu’s ability to revamp the nation’s moribund economy, said those of them in the electronics business still have hope that he has the magic wands to turn it around.
He called on the federal government to arrest the situation before it gets out of hands.
He said if the government can check the falling rate, stem the tide and restore the dignity of the naira against the dollar, the country will be better for it.
Also speaking, Mr. Matthew Oshodin, Chief Executive Officer, Surprised Pub and Cafe, decried the high cost of living in the country which is made worse by the fuel subsidy removal.
He said Nigerians are currently finding it difficult to cope rising from the high cost of fuel that has robbed off on every other aspect of the economy.
Oshodin further used the medium to call on the federal government to fix up the nation’s moribund refineries rather than sharing N5 billion as palliatives to states.
