Power outage, diesel price hike, frightening food inflation, Elumelu laments state of the nation

Nigerian economist, businessman, and philanthropist, Tony Elumelu, has lamented the current parlous state of the country’s economy.

Elumelu, who bemoaned the worsening epileptic electricity supply, hike in prices of diesel, and their effect on businesses in the country among other issues on his official Twitter handle on Thursday, questioned how a country so rich in natural resources could have 90% of its citizens living in hardship and poverty.

The CEO of Heirs Holdings and Tony Elumelu Foundation disclosed that Nigeria is unable to meet its OPEC production quota due to oil theft.

On the forthcoming 2023 general elections, Elumelu urged those running for offices to prioritize security and also asked the electorate to vote for leaders that can deliver.

He added that in 2023, Nigeria must be on a strong trajectory for progress and development.

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“This morning, I am listening to my colleagues at the office bemoan the very pressing issues that they face everyday in this country, and how things have been getting worse and worse – no electricity for 5 days, hikes in the price of diesel, frightening food inflation, etc.

“How can a country so rich in natural resources have 90% of its citizens living in hardship and poverty? I have often said that access to electricity is critical for our development, alleviation of poverty and hardship. And speaking of security, our people are afraid!

“Businesses are suffering. How can we be losing over 95% of oil production to thieves? Look at the Bonny Terminal that should be receiving over 200k barrels of crude oil daily, instead it receives less than 3,000 barrels, leading the operator @Shell  to declare force majeure.

“Why are we paying taxes if our security agencies can’t stop this? It is clear that the reason Nigeria is unable to meet its OPEC production quota is not because of low investment but because of theft, pure and simple!

“Meanwhile, oil producing countries are smiling as their foreign reserves rising. What is Nigeria’s problem? ”

On the nation’s leadership, Elumelu also said: “We need to hold our leaders more accountable! Elections are coming – security and resources need to be everyone’s agenda – let’s be vocal for our nation’s priority.

“Evil prevails when good people are silent. We need to be vocal about 2023.

“Let’s focus on Nigeria. Demand and advocate for leaders that deliver. In 2023, Nigeria must be on a strong trajectory for progress and development.”