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ABUJA, Nigeria — Former Senate President, Senator Ahmad Lawan (APC, Yobe North), has called on political leaders to seek sustainable solutions to Nigeria’s economic and security challenges.
He stressed that bailouts and temporary interventions, would not address the root cause of the problems faced by vulnerable Nigerians.
According to him, “There is a need for those of us who can afford it to help those in dire need. It is no secret that many Nigerians are in a very desperate situation. This intervention is meant to provide solace and some relief, especially during this festive period.
“Our intention is for these food materials to reach those distressed by the economic situation in the country. While such measures can provide temporary relief, they are insufficient. Our ultimate goal is to make every Nigerian self-reliant. Bailouts and stopgap arrangements cannot solve the underlying issues, but in the meantime, we must act to support our people.”
Lawan raised concerns about the prohibitive 34% interest rate on loans from commercial banks, which he said stifles business investments and food production.
He said the high rates would hinder local businesses and farmers from being competitive compared to their counterparts in countries with significantly lower interest rates.
He spoke during his foundation Senator Ahmad Ibrahim Lawan (SAIL) distribution of food items in his Yobe North Senatorial District on Monday.
Lawan explained that the initiative aimed to complement the efforts of the Yobe State government in providing relief to the poor and vulnerable during the festive season.
The senator praised the Yobe State government for its efforts and highlighted the importance of state governments working alongside the federal government to deliver good governance. He expressed optimism that the economic reforms introduced by President Tinubu’s administration would yield positive results by 2025.
“I’m looking forward to a very successful 2025 that brings an end to the economic challenges we face. The economic reforms introduced by the federal government are expected to bear fruit. However, governance is not solely the responsibility of the federal government. State governments must play crucial roles in complementing these efforts. Here in Yobe, the state government has been doing well. Recently, it distributed food items to the vulnerable. Whatever we do here is to complement the state government’s efforts, but this alone is not the solution,” he said.
He added that, “We must prioritize enabling our farmers to go back to their farms. In some northwestern states, bandits have made farming almost impossible. Many of these individuals are peasants who depend on farming. Without access to their farms, they are left with no alternatives. As leaders, we must act to restore their livelihoods and provide the necessary resources to support their efforts,” Lawan said.
He urged the federal government to address the high interest rates imposed by commercial banks, describing them as a significant barrier to business growth and food production.
