A renowned economist and director of the Centre for Social Justice, Ezeh Onyekpere, has stated that it will take a miracle for the Nigerian economy to improve in 2024, News About Nigeria reports.
He made this known while speaking with newsmen, noting that a new year comes with false hope because the policies that placed the economy where it is have not changed; therefore, a new year cannot turn the economy around.
According to him, the possibility of change or improvements in macroeconomic indicators or economic performance can only arise from the introduction and implementation of new and more nuanced policies, the maturing of existing policies when their benefits start to accrue, and a miracle from God, which has not been planned for by the government.
Onyekpere maintained that the existing policies in the country do not have any trajectory of maturing into improvements in macroeconomic indicators, adding that plans were not being put in place to improve the value of the naira.
“Our productivity is not about improving or increasing our GDP; we have no plan to increase exports to earn more foreign exchange, which will improve the value of the naira,” he said.
Speaking on the issue of insecurity that has been plaguing the country, Onyekpere maintained that there was no change in the right direction.
Citing the insecurity in Plateau State as an example, he stated that insecurity was on the increase daily.
He stressed the fact that farmers are unable to go to their farms and ply their trade to reduce food inflation in the country, which, according to him, also affects the economy.
