The Youth Party, Nigeria (YPN) has doubted President Muhammadu leadership capacity in reforming key sectors of the nation’s economy.
On Thursday, the Consumer Price Index/Inflation Report in March 2021 that was released by the National Bureau of Statistics (NBS), puts Nigeria’s inflation rate for the month of March 2020, rose to 18.17 percent from 17.33 percent recorded in February 2021, amidst soaring food prices.
National Chairman of the party, Tomiwa Aladekomo in a statement, blamed the alleged mismanagement of the economy by the Federal Government on the high level inflation in four years and unemployment and the worsening security situation, which have all inflicted hardship on Nigerians.
The party noted that the new data from the NBS is a clear indication that the nation is heading towards a severe economic crisis under the President Muhammadu Buhari-led APC Government.
Aladekomo, charged the Government to support macroeconomic policies to drive economic growth though massive investment in infrastructure, among others, to ease the means of doing business in the Country.
According to him, “While many Nigerians are struggling to stay alive, we continue to receive news of rising inflation with unemployment rate at frightening dimensions; insecurity is worsening, the cost of transportation has quadrupled, plus the continued decline in domestic and direct foreign investments, all due to the uncertainty created by Federal Government’s Management of the socio-economic issues.
“We must act now before the situation worsens”, he stressed.