Notable industrialist and politician, Prince Peter Oyeleye Fasua, has said that the ongoing economic hardship is being largely promoted by a gang-up of some political cabal, using the business community to frustrate government’s economic reforms.
He also urged President Bola Tinubu to discountenance calls for his resignation over hardship in the land, but rather, bend over backwards to achieve quick economic recovery for the country. The quieter will never win and the winners will never quite.
Fasua, a chieftain of the ruling All Progressives Congress (APC) in Ondo State, and a Director, Lagos Airport Hotel, stated these in an open letter to the President, on Wednesday.
Specifically, he said that it was high time the federal government applied the big stick, for recaltrant manufacturing companies that are out to frustrate government regulations on commodity price control.
“Particularly, all those diverting food items in the North to neighbouring West African countries to create food scarcity and force food price increase at home, should be fished out and punished as economic saboteurs.
“Mr. President, if well investigated, you will discover that some politicians up there who smile on you and pretend to be your friends are behind the problem, because while you want to reform Nigeria, they want the status quo to remain.
“Again, I salute your courage in telling Dangote, BUA and other cement companies that if they failed to beat down cement prices, you would be forced to open up the borders for cement importation,” Sir, let me take you down on a memory lane during the Obasanjo regime, he brought into the country
Ibeto cement that flooded the street of Nigeria and Dangote met his Waterloo. Also the late president Yar’Adua granted mr Ibeto import licence and that brought peace back to Nigeria and a bag of cement was reduced from 3,500 naira to 1500 a bag
What else are you waiting for my president. Break this undue power of monopoly of this wicked Dangote and his allies
He, however, urged the President not to be intimidated by taunts that have rent the streets accusing him of poor performance but remain focused on delivering on his pre-election promises; which include that he would bring in foreign investors to help boost productivity and restore the Nigerian economy.
He called on Mr president to choose ldea driven people as an Ambassador to various countries that will help bring investors to Nigeria not just the dead on arrival old cargos.Give them target and failure will be recalled back to Nigeria
Nonetheless, Fasua also tasked President Tinubu to call the Nigerian Customs to order in what he described as arbitrary increase in import duties, which has in tow, Jeck up the prices of imported items, most especially automobiles and Industry machines and spare. I learnt that those wicked cabals also played double standard on imposing fines and duties. Sir,move up and control customs,it is killing Nigeria in the diaspora.Help us look into the duties
“We can’t shy away from this reality, that with high exchange rate and sharp increase in import duties, there is no way the local economy can grow
As for the hanky-panky game being played the cabal in the system, Fasua advocated what he called “negotiated civil revolution ” to be led by the President himself, as a way of reining in economic saboteurs in the country.
“Besides, the President can negotiate with the cabal members who are widely known to be hoarding the Dollar, possibly borrowing about $50bn to shore up the ebbing finances of the country.”
He similarly advised the President to break the monopoly of the two existing cement companies namely Dangote and BUA, and give equal business franchise to IBETO Cement Companies which reports said is willing to crash cement prices.
He also noted that Nigeria ought to be self-sufficient in food production and in the production of other goods, and that the Presidency should work towards breaking business monopolies as a way of liberating the Nigerian economy from some political cabals with vast investment in top-notch companies.
“The President should not be dismayed but rather, fasten his belt because the current wind that is blowing is the handiwork of some politicians who are big investors in the business community, and are bent on using dirty tactics to bring down your government,” Fasua counselled.
He also intoned in the letter, that this is the first time two well educated men would blend as President and Vice President respectively, in the history of Nigeria, and that as such, all eyes are on President Tinubu and Vice President Hashim Shettima.
He, in the letter, similarly thanked President Tinubu for helping to restore normalcy in the politics of Ondo State during the period the late former Governor Rotimi Akeredolu was sick, and his deputy, Mr Lucky Aiyedatiwa, was not allowed to take over in acting capacity.
“This is one example that we have a caring President, and as such, we should do our best to cooperate with you to succeed,” Fasua wrote, in his missive to President Tinubu.