High exchange rate: Nigeria now going the way of Zimbabwe -Abia lawmaker
By Steve Oko
Member representing Umunneochi state house consituency in the Abia State House of Assembly, Hon. Okey Igwe, has expressed worry over the free fall of the Naira against the Dollar, lamenting that “Nigeria is now going the way of Zimbabwe”.
The Peoples Democratic Party, PDP, deputy governorship candidate who made the remarks when Senator Mao Ohuabunwa visited traditional rulers in Umunneochi, warned that if no urged economic measures were put in place to address the high exchange rate, Nigeria’s currency would soon lose its value.
Wawa News Global reports that many Nigerians live below one US Dollar a day.
Hon. Igwe who described the exchange rate of N740: $1 as outrageous, said that the Naira might be exchanging for N1000 for $1 before the end of the year if no steps were taken to strengthen the Naira.
The lawmaker who also decried the rising insecurity in the country said that Nigeria under the watch of the All Progressive Congress, APC, had become very unsafe.
He blamed the woes of the country on the “ineptitude and visionless” of the APC Government.
The lawmaker, urged Nigerians to unite against the APC in the 2023 elections to rescue the country from total collapse.
Lamenting the security challenges in Umunneochi and the failure of the APC-led Government to arrest the situation, Hon Igwe said that Abia North had rejected the APC.
He assured Senator Ohuabunwa of landslide victory in Umunneochi and the entire Abia North in the senatorial contest which according to him, “will be a walk over for him”.
Responding, Ohuabunwa restated him readiness to restore the dignity of Abia North and give the zone a quality representation if returned to the Senate in 2023.
The former Speaker ECOWAS Parliament who represented Abia North in the eight senate, said that Abia North had become “a comic relief at the red chamber” but vowed to change the narrative if elected.