APBN decries worsening insecurity, effect on business

the Association of Professional Bodies of nigeria (APBN) has decried the worsening insecurity in the country which has affected businesses and claimed many lives.

the body which renders advice to government on national policy issues is also worried that the nation is yet to find suitable strategy to adopt in its fight against crime of all shades which is frustrating commerce and farming.

the association’s Lagos Chapter which expressed this worry in Lagos during its election of members said the body which comprised 30 professional bodies is concerned that the state of insecurity is fast becoming a huge challenge to many, including its members, especially those in the agricultural sector.

Abayomi Ogunjimi, chairman of the Lagos Chapter noted that “this is unfortunately, bad news for the economy. We therefore call on the relevant authorities to do everything within their power to put the nation back on the part of peace and security”.

Ogunjimi also said that the association is also concerned over the free fall of the naira against the dollar.

“While we are aware that the government through the Central Bank of nigeria (CBN) is doing its best to get the naira stable, we see the situation as a worrisome one”.

According to him, the association therefore hopes that the recent decision of the CBN to redesign the naira, will lead to rise in the value of naira against dollar, “because the continuous devaluation of the naira has led to unprecedented high inflation which has reduced the purchasing power of the citizens”. He therefore urged the government to take decisive step on this.

the chairman also said that the astronomically increase in cost of food is becoming worrisome. “Our country is fast degenerating into a land plagued with hunger”.

“We call on government to put in measures to halt this trend. this high cost of food prices could be attributable to several factors that are not limited to gross devaluation of the naira against major currencies, displacement of farmers by bandits and terrorists, inconsistent policies of government, etc. we urge government to intensify efforts to ensure that nigerians have access to affordable food”.