Senior Advocate of Nigeria, Olisa Agbakoba, has issued a stark warning to the Federal Government, predicting a potential outbreak of hunger riots across Nigeria if immediate action is not taken to alleviate extreme poverty gripping the nation.
According PUNCH report, speaking to reporters at his office in Ikoyi, Lagos on Tuesday, Agbakoba expressed grave concern over the dire economic situation faced by ordinary Nigerians. "The majority of Nigerians cannot afford to put food on their tables despite our vast oil and gas resources, which have been exploited largely by foreigners," he lamented.
Agbakoba stressed the urgency of addressing this crisis to prevent mass unrest, cautioning that hungry citizens could resort to desperate measures. "We are on the brink of hunger riots in Nigeria," he warned, highlighting the potential for widespread looting of food items as a consequence of severe deprivation.
The legal luminary directed his appeal specifically to President Tinubu, urging a drastic overhaul of the governmental structure to streamline efficiency and reduce costs. "President Tinubu must consider downsizing the cabinet immediately. Having over 40 ministers is excessive; we do not need more than 20 ministries," he asserted.
Furthermore, Agbakoba recommended stringent measures against tax evasion by multinational oil companies, accusing them of contributing to the economic woes through non-compliance.
"Expand the tax net and enforce compliance among defaulting International Oil Companies (IOCs) instead of burdening the already suffering populace with increased taxes," he advised.
Agbakoba's warnings come amid alarming economic indicators. Recent data from the National Bureau of Statistics revealed a staggering rise in food inflation, soaring to 40.66% in May from 25.25% just a year prior. Overall consumer prices also surged to a 28-year high, driven by escalating costs of food and transportation.
In response to these developments, Agbakoba emphasized the need for immediate governmental action to mitigate the burgeoning crisis. "The Federal Government must act swiftly to prevent a humanitarian catastrophe. We cannot afford to delay any longer," he stressed.