#NES30: Nigeria Facing Serious Structural Problems [Video]

Nigeria is currently dealing with several unresolved structural issues, according to Wonuola Adetayo, a board member of the Nigerian Economic Summit Group (NESG).

During a discussion on News Central TV’s Breakfast Central during the Nigerian Economic Summit (NES) in Abuja on Monday, Adetayo said these problems include rising inflation, a worsening food crisis, and increased energy costs following the removal of subsidies.

She pointed out that many critical issues remain unaddressed, including insecurity which has forced people off their farms, leading to food shortages.

“We do not have enough food to eat, transport, or sell,” she said, explaining that this has led to a dependence on food imports, which in turn worsens the country’s economic situation.

Adetayo said the shortage of foreign exchange is another concern. According to her, foreign companies need this currency to import resources for production. However, by the time they acquire the needed funds, the costs often outweigh the …