The Bishop of the Anglican Diocese of Owo in Ondo State, Revd Stephen Fagbemi, has expressed deep concern over the severe economic challenges facing Nigeria, urging President Bola Tinubu to urgently address the security and economic issues plaguing the country.
Speaking during the third session of the 14th Synod of the Church held at St Stephen’s Church, Ipele, in the Owo Local Government Area, Bishop Fagbemi highlighted the widespread pain and frustration among Nigerians due to the current economic hardships.
“The effects of the current economic hardship are real and painful,” Fagbemi stated.
“Unless urgent and effective steps are taken to curtail the effects of the current economic situation in the country, Nigeria may witness an uncontrollable rise in crime.”
The Bishop noted that Nigeria has become increasingly difficult to live in, driving many citizens to seek greener pastures abroad, only to encounter difficulties in their new locations.
He attributed the economic hardship to the sudden removal of petroleum subsidies, devaluation, and the instability of the foreign exchange rate.
“Nigeria and its people have encountered acute economic hardship within the past year owing to the sudden removal of petroleum subsidy and due to devaluation and instability of the foreign exchange. The resultant effects of these actions are the harsh economic reality that Nigerians are facing daily. Inflation is almost out of control, and prices of goods and commodities have risen astronomically,” he said.
Fagbemi stressed the difficulty many Nigerians face in feeding their families, noting that only a few wealthy individuals can claim to be comfortable. He called on the government to diversify the economy and address the high unemployment rate, which leaves many graduates without jobs or means of livelihood, casting a bleak and hopeless outlook for the future.
“We urge our government to work harder at diversifying our economy. Already it is evident that unemployment is very high, as so many graduates are walking about without any job or means of livelihood. This makes the future look bleak and hopeless for many,” Fagbemi said.
Despite the economic crisis, the Bishop pointed out that Nigeria continues to borrow, while the political class remains insulated from the economic adjustments affecting ordinary citizens.
He criticized the significant disparity between the economic conditions of the electorate and the comfortable lifestyles of politicians, whose substantial monthly earnings demonstrate a lack of consideration for the public’s plight.
“The political class is not undergoing any serious economic adjustment as their monthly take-home, which is humongous, is a shameless inconsideration of the plight of their electorate,” Fagbemi concluded.
The Bishop’s call for urgent government action underscores the need for immediate measures to alleviate the economic suffering of Nigerians and foster a more equitable and stable society.