Former presidential aspirant, Gbenga Olawepo-Hashim, has lamented that almost every sector of the Nigerian economy has collapsed. Olawepo-Hashim said this on Monday while fielding questions in an interview on Arise Television’s ‘Prime Time’.
Former presidential aspirant, Gbenga Olawepo-Hashim, has lamented that almost every sector of the Nigerian economy has collapsed. Olawepo-Hashim said this on Monday while fielding questions in an interview on Arise Television’s ‘Prime Time’.
He said that the collapse in the agricultural sector is more serious due to insecurity, adding that the sector has lost about $5 billion in two years due to the policy of trying to artificially crash the prices of agricultural products. ‘When the over devalued the naira, it meant that herbicides, all the inputs that are imported for a Greek farming, went up over 100% so what that meant, technically, is that the prices will be a bit high. ‘And then people were crying, and then the government wanted to make a show that we are getting good numbers, food prices are going down, so they allowed for massive importation of food. ‘Sometimes for the agricultural sector, there’s many concessionary rate. So what you found that happened in Nigeria was because of this massive importation, plus already the crisis of low productivity in the sector due to insecurity. ‘So, nearly every sector of the Nigerian economy has collapsed in the Gross Domestic Product, GDP,’ he said.
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