Anambra Political Activist Demands Urgent FG Response to Economic Crisis

Former Anambra State governorship candidate, Chief Imoyeto Ikeotuonye, has issued a passionate appeal to the Federal Government, urging immediate and strategic intervention to alleviate the worsening economic hardship faced by millions of Nigerians.

Speaking on the dire state of the nation’s economy, Chief Ikeotuonye, who contested the Anambra governorship some years ago, emphasized that all available indicators point to one of the most severe economic crises in recent Nigerian history.

He noted that spiraling inflation, a rapidly depreciating naira, and the skyrocketing cost of living have rendered basic survival increasingly difficult for the average Nigerian.

“From the urban unemployed to rural farmers, the economic hardship is biting harder than ever. It is no longer just necessary for the Federal Government to act , it is long overdue,” he stated.

Chief Ikeotuonye argued that while long-term reforms are crucial, Nigeria needs a dual-track approach,the immediate relief for survival and long-term restructuring for sustained economic resilience.

“First, the government must implement direct support measures targeting the most vulnerable groups. Conditional Cash Transfers (CCTs), if expanded and effectively managed, could serve as immediate lifelines,” he said.

He said that the escalating food insecurity affecting millions of households must be addressed with urgency.

Measures such as subsidized food distribution, price stabilization for agricultural produce, and support for smallholder farmers are essential to ensure that citizens can at least feed themselves.

Addressing the impact of rising energy costs, particularly in transportation and cooking, Chief Ikeotuonye acknowledged that while blanket subsidies have historically been inefficient and prone to abuse, targeted subsidies could provide meaningful relief.

“Subsidies should be focused specifically on public transport and cooking gas – sectors where the poor are most affected. This way, the relief reaches those who need it most without overstressing the national budget,” he explained.

On the issue of unemployment, particularly among youth, the Nnewi-born political activist called for the launch of mass public works programs focused on rehabilitating infrastructure ,including roads, sanitation, and public facilities. Such initiatives, he said, would generate short-term employment and inject much-needed liquidity into local economies.

He also emphasized the importance of supporting Small and Medium Enterprises (SMEs) with low-interest loans and tax incentives, particularly in key productive sectors such as agriculture, local manufacturing, and technology.

Turning to macroeconomic policy, Chief Ikeotuonye identified the stabilization of the naira and the containment of inflation as top priorities.

He noted that the Central Bank of Nigeria (CBN) must operate independently, with consistent and transparent policies to restore investor confidence and deter speculative pressure on the currency.

“A stronger naira translates to cheaper imports and reduced pressure on household budgets,” he noted.

Looking ahead, he called for a fundamental restructuring of Nigeria’s economic base, warning against continued dependence on crude oil.

“Nigeria’s economic future depends on bold investment in infrastructure, including power, roads, and broadband and a shift toward sectors capable of employing millions-agriculture, mining, digital services, and manufacturing. Economic diversification must move beyond rhetoric,it is a matter of survival,” he stated.

Chief Ikeotuonye also highlighted corruption as a central obstacle to economic reform, warning that public trust continues to erode whenever funds meant for development are misappropriated.

“Corruption is the elephant in the room. The government must be transparent and ruthless in plugging leakages. Every naira must count,” he said.

He also stated that the current crisis is not just a matter of economic indicators, but of real human suffering.

“Economic hardship is not an abstract statistic ,it is the hungry child, the jobless graduate, the frustrated market woman. The Federal Government must respond with the urgency this crisis demands. The time for rhetoric is over. Nigerians need action — and they need it now,” Chief Ikeotuonye added.