In a bid to address the rampant trading of currencies along roadsides in Nigeria, Honourable Fatoba Olusola Steve, a member of the House of Representatives, has called upon the Central Bank of Nigeria (CBN) to implement a complete ban on such activities.
Expressing concern over the country’s foreign exchange system and the escalating cost of commodities, the lawmaker emphasized the urgent need for measures to stabilize the naira for the nation’s economic well-being.
Representing Ado Ekiti-Irepodun/Ifelodun Ekiti Central Federal Constituency 1, Fatoba underscored the crucial role of farming in sustaining the population, urging both citizens and authorities to view agriculture as a viable business venture.
He highlighted the significant discrepancy between the official exchange rate and the prevailing market rates, attributing much of the problem to internal factors rather than external influences.
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Speaking to journalists in Ado-Ekiti, Fatoba stressed the importance of state governments investing substantially in agriculture to engage youths and alleviate unemployment. He emphasized Nigeria’s agricultural potential, citing favorable geographic conditions and abundant arable land, asserting that the country should be self-sufficient in food production.
Identifying insecurity as a major obstacle to agricultural productivity, the lawmaker advocated for enhanced security measures to protect farmers and restore confidence in farming activities.
He suggested strategies such as establishing police posts and deploying armed guards to safeguard farmlands from bandit attacks.
As part of his commitment to supporting agricultural initiatives, Fatoba recently donated a power tiller to the Ekiti Ireakari Youth Farmers Cooperative in Ado-Ekiti, aiming to bolster their farming endeavors and contribute to national food security.
Dr. Sikiru Olowoyo, the group’s leader and Senior Special Assistant to the Ekiti State Governor on Agric Extension, lauded the lawmaker’s gesture and expressed gratitude for his encouragement and support.
In light of these efforts, Fatoba urged concerted action from both government and citizens to prioritize agriculture as a means to alleviate economic challenges and ensure food sufficiency in Nigeria.
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