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Elder statesman and frontline industrialist, Dr. Chike Obidigbo, has stated that Nigeria is bleeding profusely without any hope for urgent healing and redirection.<\/p>\n

He noted that President Bola Ahmed Tinubu has found himself in a pitiable situation due to a number of reasons, regretting that none of the President\u2019s aides had shown capacity to pinpoint the cause or strategies to salvage the ugly condition.<\/p>\n

In a statement on Friday, Obidigbo said President Tinubu should realise that he inherited a crop of kleptomaniacs from former President Muhammad Buhari\u2019s eight years of maladministration.<\/p>\n

He said, \u201cNigeria is bleeding profusely, and there seems to be no doctors around to control the loss. Although the current socio-economic chaos in Nigeria were not entirely caused by Tinubu, it is surprising that his foot soldiers cannot help him out in redirecting the country.<\/p>\n

\u201cNo doubt, Tinubu inherited most of these crises from Buhari\u2019s crass incompetence and ferociously corrupt crew of kleptomaniacs who surrounded him and drained the country\u2019s resources to the point of near depletion. But, Tinubu\u2019s calculations for power lured him onto an infested throne.<\/p>\n

\u201cThe President should urgently weed out incompetent aides that have not made any appreciable effort to revive Nigeria\u2019s once robust economy.<\/p>\n

\u201cTinubu\u2019s failure to inform Nigeria about the status of the economy he met on ground at his inauguration makes him an accessory to Buhari\u2019s years of the locust.\u201d<\/p>\n

While reminding President Tinubu that there were a lot of Nigerians with good heads to help him navigate the ship of state, he noted that the country \u201cseems far too large for one black head to exclusively manage successfully.\u201d<\/p>\n

\u201cWe claim to be wise people, but fail to recognise our shortcomings and limitations.<\/p>\n

\u201cAt any event, this bleeding economy could make it imperative to consider the peaceful Balkanization of the country into smaller, more efficiently manageable units rather than continue this unending brotherly schism.<\/p>\n

\u201cTime has come for us to prayerfully and deeply reflect on the saying that when two brothers fight to finish, outsiders will takeover their inheritance.<\/p>\n

\u201cThe wise thing remains for the brothers to share their properties and remain alive, rather than die and enrich strangers that might have been goading them on out of bitter jealousy<\/p>\n

\u201cI wont say that the creation of Development Commissions around the six geopolitical zones is a step in that direction, but the economy is currently exposing the ugly underbelly of Nigeria,\u201d he stated.<\/p>\n

On the recent issues of the minimum wage, Obidigbo said as an employer of labour he has to warn the President from throwing money to problems or pursuing policies of appeasement that could render the economy comatose.<\/p>\n

\u201cTo me, the recent debate over minimum wage seems a dumb trap to further diminish this seeming lone-ranger approach to managing the economy.<\/p>\n

\u201cOn one hand, Labour was ignorantly pushed to maximise the minimum wage bargain in the erroneous belief that it will better the standard of living of the people and solve the economic challenges of labour.<\/p>\n

\u201cOn the other hand, the government wrongly believed that the bitter anger of labour could be assuaged by irrationally increasing labour costs without a corresponding increase in productivity.<\/p>\n

\u201cUnfortunately, when the final decision is implemented, the net effect, with its wider implications will hit the country like a thunderbolt<\/p>\n

\u201cAs an industrialist and employer of labour, I make bold to say that neither the demand nor the acquiescence makes realistic economic sense. The decision will soon backfire on all of us as soon as the wage increase comes on stream,\u201d he said.<\/p>\n

Obidigbo remarked that the decision to increase the minimum wage to N70,000 came off as the usual World Bank and IMF ready made prescriptions.<\/p>\n

\u201cIMF derives pleasure in stagnating developing economies and making them difficult to govern.<\/p>\n

\u201cIt is very unfortunate that Nigerians have lost all sense of history, because we have so quickly forgotten the Udoji award era and its devastating consequences on the country\u2019s economy.<\/p>\n

\u201cWhat Labour and the Government should realize is that not the amount of cash in one\u2019s pocket that determines purchasing power, or the standard of his living.<\/p>\n

\u201cPurchasing power of cash should be paramount. Simply, work does not follow money, because whenever money is in the forefront, work takes a back seat.<\/p>\n

\u201cConversely, when work is in the forefront, money follows without question. So, in clear terms, money follows work and not the other way round,\u201d he further stated.<\/p>\n

Hardship: Nigeria bleeding without hope \u2013 Obidigbo proffers solutions<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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