Friday, February 26, 2016

LATEST! Buhari heeds Soyinka’s advice, convenes conference

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President Muhammadu Buhari has approved the convocation of a national economic conference aimed at rallying the country together to offer solutions to the current economic challenges facing Nigeria.
A top government official, who spoke on condition of anonymity, disclosed this to a group of journalists in Abuja on Thursday.
The approval came barely a week after.....
Nobel laureate, Prof. Wole Soyinka, called on the President to summon an emergency economic meeting to recommend specific solutions to the nation’s prevailing economic challenges to save the country’s economy from further drift.
The nation’s currency has slumped drastically against the dollar in recent months due largely to the scarcity of the foreign currency and the tough regulations of the Central Bank of Nigeria.
This appeared to have led to spiralling inflation in the country as most products are produced abroad, putting the nation’s foreign reserves and currency under intense pressure.
The price of crude oil in the international market has continued to fall since November 2014, threatening to frustrate the provisions of the nation’s N6.07tn 2016 budget.
Soyinka, who made the call when he visited the Minister of Information and Culture, Alhaji Lai Mohammed, in Abuja last Thursday, had said experts and consumers should be invited to the meeting.

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