The Coalition of United Political Parties (CNPP) has observed that Nigeria is at a critical juncture, struggling to balance long-term economic reforms with the pressing need for immediate relief. The country’s economic woes, exacerbated by years of poor governance, corruption, and reckless spending, have created a perfect storm of suffering.

The CUPP in a statement signed by its National Secretary, Chief Peter Ameh, maintained that millions of citizens are crying out for immediate relief, and it’s high time the government listened.

The political parties said that government’s poorly thought-out reforms initiative has led to increased costs of living, with inflation rising to alarming levels and no hope in sight.

According to the statement, as Nigerians are demanding tangible solutions to alleviate their suffering, agricultural investment programs and targeted interventions are necessary to cushion the blow of these reforms.

The CUPP suggested effective communication, gradual phasing of reforms, and targeted relief to vulnerable populations are crucial to navigating this struggle as well as investing in human capital through upskilling and reskilling programs will enhance employability and productivity.

Chief Ameh noted that fostering public-private partnerships will drive growth and innovation but the government’s inability to address the country’s economic challenges has led to widespread discontent. Nigerians demand solutions, not excuses.

The CUPP stated that economic crisis in the country demands urgent action, with a focus on balancing long-term reforms with immediate relief.

Recently, Nigeria has embarked on far-reaching macro-fiscal reforms aimed at stabilizing the economy and setting the country towards growth. The Central Bank of Nigeria has unified official exchange rates, fostered a market-determined rate, and cleared the verified foreign exchange backlog. These reforms have improved foreign exchange supply, benefiting businesses and consumers.

To cushion the effect of reforms on citizens, the government announced a cash transfer program to provide 15 million households with financial support. This initiative is supported by the World Bank through the Nigeria Social Safety Net Program-Scale Up. However, Nigeria still needs to accelerate the delivery of the program and consider expanding its reach.

Agriculture offers a rapid turnaround for economic growth, job creation, and food security. With its short gestation period, investing heavily in agriculture can revitalize Nigeria’s economy. The government must prioritize the needs of its citizens, ensure reforms are people-centered and inclusive, and foster transparency and accountability.

The Nigerian people await tangible solutions to their economic challenges. Time is running out, and Nigeria’s future hangs in the balance. The administration must choose between politics and people. Will they rise to the challenge? Nigeria’s economic quagmire demands swift and sustainable solutions.

As Chief Peter Ameh emphasized, the government must apply effective governance, policy decisions, and stakeholder engagement to achieve this delicate balance. The time to act is now. Nigeria’s economic recovery requires a people-centered approach, prioritizing transparency, accountability, and data-driven decision-making.

The CUPP concluded that Nigeria’s economic crossroads demand urgent attention, saying that the government must balance reforms with relief, prioritize citizens’ needs, and foster transparency and accountability.

The CUPP insisted that by doing so, Nigeria can rapidly revitalize its economy, create jobs, and ensure food security as the future of Nigeria hangs in the balance, and the time to act is now.

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