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Sunday, February 25, 2024

The portrait of a nation

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By Isah Aliyu Chiroma

The change that we had witnessed recently is becoming unbearable. Grappling with the problems of national stability and enchanting insecurity has been an important concern. Conflicts have polluted our atmosphere, to the extent that the poor cannot breath.

It is significant, as the most important challenges to address. The northern region is suffering from severe conflicts that have turned many into internally displaced persons. Banditry is the lead in Katsina, Zamfara, Sokoto, Kebbi, Niger. Those states are interconnected, sharing borders which offer easy mobility. Borno and Yobe sufferes from terrorisim, Boko Haram been the leading terrorist group in this region. Kaduna and Niger respectively are been faced with banditry and terrorism.

Then comes the Farmers/Herdsman, settler/indigene and ethno-religious crisis in Benue, Plateau, Taraba, Nasarawa and Adamawa. Those crises have escalated over the years, with loss of lives and properties. One indication from this region is the high number of internally displaced persons, which is alarming. And of recently, kidnapping in the capital.

In view of this, we need to take security seriously. They have been developments, but more effort is needed because of its importance. All the works the government will put in place, with insecurity, it will all be an illusion.

In spite of the gravity of these conditions, much need to be done to combat the present irresistible advance of insecurity. This is the only real fight waged against the citizens, keeping them and their properties unsafe.

Nigeria’s security forces, government, and society as a whole must take a comprehensive and proactive approach to solving the complicated problem of insecurity. Insurgency, banditry, kidnapping, and inter-communal conflicts, restoring peace and security will take time and effort. Proactive measures include addressing socioeconomic factors like poverty, unemployment, and promoting inclusive economic development programs, and strengthening security forces through heavily investing in this sector.

As we have seen in some states where security watch men were inaugurated to restore peace and tackle insecurity in the respective states. Local communities are empowered by decentralized security measures to assume responsibility for their own security, and international cooperation and support are sought to counter transnational security concerns. By putting these policies into place, a more secure and safe environment will be created. We need proactive approach and a comprehensive to combating insecurity.

Another highly volatile issue is the rise of dollar to naira, which is imposing some uncertainties in our economy. As we keep recovering from mismanagement of resources allocated, it becomes clear that there is need for accountability, to track down projects in the name of the citizens. But before then, we need to know what we want in our communities and what need to be addressed. It will be in appropriate to allocate a project when the community needs schools or hospitals.

This surge in the exchange rate has far-reaching implications for the Nigerian economy, impacting businesses, consumers, and the overall macroeconomic landscape there is every reason to believe that we are still not ready to put back things to work as they are supposed to be.

The mismatch between the supply and demand of foreign exchange has been crucial. Dollars are more in demand than they are in supply, which raises their value in relation to the Naira. Nigeria’s reliance on oil exports, its commitments under international debt, and trade imbalances are some of the causes influencing this imbalance. Oil as a major source of revenue exposes Nigeria to the volatility of global oil prices. Fluctuations in oil prices can directly impact the country’s foreign exchange earnings, leading to reduced dollar inflows. Additionally, the current account deficit and rising external debt levels put pressure on the Naira, contributing to its depreciation against the dollar.

In addressing this issue, policymakers must adopt a multifaceted approach. Implementing structural reforms to diversify the economy, enhance export competitiveness, and attract foreign investment. Improving the transparency and efficiency of the foreign exchange market, alongside prudent fiscal and monetary policies, can help restore confidence and stability.

On the flip side, the nation at the moment, we are witnessing a shift and reform in most of the economic sectors, which if we take the appropriate steps, strategize and put the necessary policies in place that will work for us, we will create a nation we want.

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