Former Speakers of State Houses of Assembly in Nigeria have proposed implementing price control mechanisms and subsidies for essential goods as strategies to alleviate the widespread hardship across the nation.
These former speakers, gathered in Adamawa State under the leadership of Simon Lalong, the former speaker and immediate past Governor of Plateau State, stressed the urgent need for decisive measures to restore stability to the national economy.
In a statement issued after their meeting and shared with the press early on Sunday, they acknowledged the burden faced by citizens due to the increasing cost of living. They advocated for concerted efforts to mitigate inflationary pressures through effective price controls, subsidies for essential goods, and social welfare programs aimed at supporting vulnerable populations.
The communique, signed by Simon Lalong, the chairman of the ex-speakers conference, also recommended enhancing infrastructure, particularly in transportation and energy sectors, to reduce the cost of goods and services and improve overall living standards.
The conference expressed concern about the devaluation of the Naira and urged relevant authorities to find suitable solutions. It advised prudent fiscal management, economic diversification, and the promotion of local production and entrepreneurship. Additionally, it emphasized the importance of strengthening institutions responsible for monetary policies and implementing measures to attract foreign investments, thus fostering economic growth and stabilizing the exchange rate.
The meeting in Yola was attended by 125 former speakers, including host governor Ahmadu Fintiri and the governors of Delta and Ebonyi States, as stated in the communique.