NBA Conference: How to stabilise the Naira – Obi, Atiku, Shettima, Adebayo

Some presidential candidates in the 2023 election have spoken on how to make the Nigerian economy viable during NBA Conference.

 

 

Newsonline reports that Atiku Abubakar of the Peoples Democratic Party, Peter Obi of the Labour Party, Adewole Adebayo of the Social Democratic Party, and Dumebi Kachikwu of the African Democratic Congress spoke at a plenary session on Monday.

 

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This online newspaper understands that Bola Tinubu, the candidate of the All Progressives Congress, was represented by his running mate, Kashim Shettima.

 

The Nigerian currency has been depreciating in the parallel market compared to the dollar.

 

The candidates offered their solutions to the economic instability at the Nigerian Bar Association’s Annual General Conference themed – ‘Bold Transitions’ being held at the Eko hotel in Victoria Island.

 

The 62nd NBA conference officially opened on 19 August and will continue till 26 August.

 

Among those at the opening ceremony were the Nigerian writer, Chimamanda Adichie; former senator, Dino Melaye; AIT founder, Raymond Dokpesi; Governor of Edo State, Godwin Obaseki; and Plateau State Governor, Simon Lalong.

SDP

Mr Adebayo said that one of the ways of making the Naira stable is to refrain from having “a dual system where one person who has a friend in the Central bank can make $30 million dollars by buying at the official rate and selling to the hard-working people” at an increased rate.

He added that “importers and supermarket owners should not be making more money than manufacturers and farmers.”

LP

On the other hand, Mr Obi of the LP said the “only way” to stabilise the naira is for the Nigerian economy to “move from consumption to production.”

He said Nigeria must be able to manufacture and export to earn dollars to stabilise the Naira.

APC

However, Mr Shettima said that an “important tool of growing the economy”, is ”diversification of sources of our income.

“Ours is a great nation in chains. Chained by ineptitude, chained by corruption and chained by incapacity,” he said.

“This is why it is absolutely important to grow the economy.”

PDP

Mr Atiku said there were two ways to stabilise the economy.

He explained that the “multiple exchange rate,” must be “abolished.”

He added that the “convergence of official and unofficial rates” must be allowed.