The Anglican Synod Lafia Points Out Factors Weakening Naira, Rising Inflation In Nigeria

The Anglican Synod organised by Lafia Diocese in Nasarawa State, has pointed out some factors that have been weakening the naira, causing persistent high inflation in the country.

This was revealed during its 3-day of the 9th synod of the Anglican Church of Nigeria, organised by the Diocese of Lafia, held at St. James Cathedral in Lafia, the capital of Nasarawa State.

A case was made of the major factors potentially threatening Nigerians’ survival, since the beginning of the administration of incumbent President, Bola Ahmed Tinubu.

The removal of fuel subsidies by the Tinubu-led federal government and the continued dollarization of the country’s economy by certain government’s policies, CBN and some Nigerians.

“These factors are not only contributing to the weakening of Nigeria’s currency, heightening inflation and the japa syndrome but are wholly responsible for the present economic crisis, characterized by hunger, suffering and its attendant consequences on Nigerians across the board” the Synod stated.

In a communique issued to newsmen at the end of the Synod and signed by Godwin Adeyi Robinson, the Anglican Bishop of Lafia Diocese, said being the most populous democratic country in the African continent, Nigeria is still wandering around issues, that potentially posed a threat to Nigeria economy.

The Synod, therefore commended President Tinubu for the steps being taken in addressing the challenges eluding Nigeria and its citizens.

The communique reads in part: “The Synod commends the President of the Federal Republic of Nigeria, Ahmed Bola Tinubu GCFR, for the efforts being made to tackle the many problems in Nigeria, including economic stability, security and social wellbeing of Nigeria, as the most populous democratic country in Africa.

“The Synod observes that the removal of fuel subsidy leads to the present hardship in Nigeria, cascading into hyperinflation of goods and services, thereby impacting negatively across the board in Nigeria.

“The Synod appeals to Nigerians to stop the Dollarization of Nigeria economy which has potentially weakened the Naira and further heightened inflation and encourage the migration of young Nigerians out of the country, that is JAPA syndrome, with the devastating impact on brain drain of medical and academic personnel out of the country,” its added.