Okupe Urges Tinubu to Declare Economic State of Emergency, Suspend 2024 Budget



By Milcah Tanimu

Doyin Okupe, a former aide to ex-President Goodluck Jonathan, has urged President Bola Tinubu to declare a six-month state of emergency on Nigeria’s economy and temporarily suspend the implementation of the 2024 budget.

In a statement issued on Tuesday, Okupe appealed to Tinubu to also reduce the pump price of Premium Motor Spirit (PMS) to between N300 and N400 and stabilize the exchange rate at N750 per dollar, aiming to alleviate the hardship faced by Nigerians.

Highlighting the economic challenges exacerbated by the removal of fuel subsidy and the floating of the Naira, Okupe emphasized the necessity for urgent action to address the nation’s deep-seated issues.

He advocated for a temporary pause in budget execution to allow for strategic planning and resource reallocation, stressing the importance of prioritizing economic recovery measures during these critical times.

Okupe also called for increased security measures, including the mobilization of the Army and other security agencies, to safeguard economic resources and foster stability.

Additionally, he recommended measures to enhance oil production capacity, suggesting efficient operations by the Nigerian National Petroleum Company Limited and the Dangote Oil Refinery to boost petrol production.

In pursuit of self-sufficiency, Okupe suggested Nigeria should be prepared to quit OPEC if necessary, emphasizing the need to regulate fuel prices and stabilize key economic indicators to restore confidence and affordability.

Furthermore, he proposed strategies to address food security concerns, including massive importation of staple food items and a comprehensive approach involving all tiers of government.

Okupe’s recommendations underscore the urgent need for proactive measures to mitigate economic challenges and promote sustainable growth and development in Nigeria.


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