Editorial

RISING COST OF LIVING

Inflation, another name for rising cost of living, is becoming deep and nasty. But this is dismissed intriguingly with figures. Official statistics put the rate of inflation at mere 9.6%. When they do that, the seriousness of the matter is undermined. It is pushed to the back in the scheme of things. The government seems to get away with it. But nobody is deceived.
This happens because those in charge are people who can afford any level of prices in the market. Whatever the prices are, they can pay.
We caution however that more attention must be paid to the economy. Otherwise the effect of inflation on the masses can only worsen and raise their temper. A hungry man is an angry man. Already an accidental and involuntary devaluation of the naira has already been imposed. What the naira can buy in the market is nothing to write home about, making the house wife come back from the market in tears.
Thus we believe that of all Nigeria’s challenges, the economy is the worst. The governments are blinded by boko haram, Biafra, and the attacks on oil installations. They cannot see the devastation coming from the economic depression in the air which is killing more people than any other challenges we are facing. This is the time to call up all the reservoir of country’s economic experts. They cannot be dormant at this time of national economic emergency. What is happening in the economy requires unprecedented policy response. People’s pockets have to be de-frozen. The distress in the economy has to be countered by whatever means to avoid a dramatic collapse of public confidence.

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Christian Voice