The lawmaker representing Abia North Senatorial District, Orji Uzor Kalu, says the price of fuel and the naira exchange rate are the two major problems crippling Nigeria’s economy.
Kalu made this assertion on Monday when he featured in an interview on News Central Television.
He said Nigeria cannot build a sustainable economy by relying on oil while importing basic necessities.
He called for a shift towards domestic production in all sectors to achieve long-term stability and economic growth.
“There are two things crippling this economy …the price of fuel and the price of the dollar.
“We cannot build a sustainable economy by relying on oil. Sometimes, I also blame government officials who don’t agree to make some sacrifices to see truly how our economy is running.
“And, to be honest with you, the young people are right because anybody will wake up and say, ‘Oh, when will this be over?’
“This economy has been unproductive since 1960. What I do is production, and I continue to say that the economy must be productive. We must produce.
“If we don’t produce, no matter the amount of oil you get out of the Niger Delta or elsewhere, it’s not going to be our solution. Because as we produce oil, we should also be using the proceeds to buy things that we need, especially food,” he said.
Uzor Kalu names two major problems crippling Nigeria’s economy