Former President of the Senate, Senator Ahmad Lawan, expressed deep concern on Monday over the growing hunger and desperation among Nigerians.
Lawan made the statement while flagging off the distribution of grains and food materials to vulnerable citizens in his Yobe North senatorial district.
The former Senate President acknowledged the severe economic hardship faced by many Nigerians, urging political leaders to find long-term solutions to the nation’s economic and security challenges.
He stated that while initiatives like food distribution are important, they are merely temporary reliefs and do not address the root causes of poverty and insecurity.
“This intervention is aimed at providing some relief to those in distress, especially during the festive period. However, such measures are not enough. We must work toward creating self-reliance for every Nigerian. Temporary interventions cannot solve the problem,” Lawan stated.
Lawan also lamented the crippling effect of high interest rates on businesses, particularly in agriculture.
He criticized the current interest rate of 34 per cent, calling it “callous” and noting that it prevents local businesses and farmers from competing with international counterparts who enjoy much lower interest rates.
He further stressed the need for accessible investment funds to stimulate economic growth and productivity.
“We must make funds for investment accessible. Today, the interest rates are prohibitive. How can local businesses and farmers compete when other countries offer loans at much lower rates?” he added.
The former Senate President reiterated the importance of state governments complementing federal government efforts in addressing Nigeria’s challenges.
He expressed hope that the economic reforms introduced by President Bola Tinubu’s administration would begin to show results in 2025.
