Why Buhari should declare state of emergency on Nigerian economy – SAN

A Senior Advocate of Nigeria, SAN, Sebastine Hon, has advised President Muhammadu Buhari, to immediately declare a state ofemergency on the nation’s ailing economy.

Mr. Hon, who gave the advice on Tuesday in Abuja, said the action was necessary to forestall national upheaval.
“Following the abysmal performance of the oil sector in the past one year, as a result of the ongoing oil glut which sounds more like an international economic conspiracy, the economic fortunes of the state, nay people of Nigeria, have continued to nosedive freely,” Mr. Hon said.
“The modalities for the proclamation by Mr.President and the National Assembly should, in my respectful judgment, include but not be limited to assembling a crack team of economic, financial, agricultural, legal and technological experts who will work with Mr.President’s economic team and come out as soon as possible with a working document within a given timeframe.”
Since the government is laying emphasis on agriculture, Mr. Hon said proclaiming a state of economic emergency would stimulate massive cultivation of food and cash crops.
He said the nation’s economic woes were further compounded by individuals who cornered public funds and are shamelessly sabotaging recovery efforts by the federal and state governments.
Mr. Hon cautioned that the failure to halt the continued recession of the country’s economy as a matter of national urgency could trigger crisis of unimaginable proportion across the country.