Former Speakers of State Houses of Assembly of Nigeria, have recommended price control mechanisms and subsidies for essential commodities as ways of reducing the OF prevailing hardship across the country.
The former speakers who held a meeting in Adamawa State, under the leadership of former speaker and immediate past Governor of Plateau State, Simon Lalong, advised that quick and definite measures are required to restore normalcy to the national economy.
A communique on the meeting, which was passed to newsmen in the early hours of Sunday, reads, “Understanding the burden placed on citizens due to the rising cost of living, concerted efforts should be made to mitigate inflationary pressures through effective price control mechanisms, subsidies for essential commodities, and social welfare programs targeting vulnerable populations.”
Signed by the chairman of the ex-speakers conference, Simon Lalong, the communique further advised on improving infrastructure, “particularly in transportation and energy sectors, that will reduce the cost of goods and services and enhance overall living standards of the citizenry.”
The conference frowned at the falling value of the Naira and requested the relevant authorities to find appropriate solutions.
It advised prudent fiscal management, diversification of the economy, and the promotion of local production and entrepreneurship as well as strengthening institutions responsible for monetary policies and implementing measures to attract foreign investments to foster economic growth and stabilize the exchange rate.
According to the communique, 125 former speakers attended the Yola meeting, including host governor Ahmadu Fintiri and the governors of Delta and Ebonyi States.
