Economic saboteurs’ll be prosecuted, expect development in 2024 – Bamidele

The Leader of the Senate, Senator Opeyemi Bamidele says the Federal Government will from next year go after economic saboteurs who made lives difficult for Nigerians.

Bamidele also said the National Assembly would pass the 2024 appropriations bill on December 30 to sustain the January-December budget cycle.

He made this disclosure at a session with journalists in Iyin Ekiti on Monday, saying all federal lawmakers would have to cut short their holidays to ensure speedy passage of the 2024 appropriations bill.

Bamidele expressed concerns about the activities of economic saboteurs who were doing everything to keep exchange rates high against the naira or trying to make the naira unavailable to the people who kept their money in banks.

He said, “The Federal Government will from next year go after economic saboteurs who are making life difficult and unbearable for Nigerians. The Federal Government will charge, prosecute and punish them for their acts of economic sabotage.

“All these will take place next year. In the long run, those who mopped up the naira and dollars from the markets will face the consequences of their actions. Those who mopped up the dollars to keep commodity prices high will definitely not escape justice.

“Those who are speculating are also on the watch list of the Federal Government. At some points, the Federal Government will have to go after them.”

Bamidele also assured Nigerians that Nigeria would soon witness a true era of Renewed Hope that would herald development, progress and prosperity.

He revealed the plan of the Federal Government to invest heavily in agriculture and agro-allied industries.

“We are equally doing all we can to harness our solid minerals potential as much as what we derive from the sale of crude oil. We are determined to sustain the daily production of 1.7 million barrels.”

Speaking about the consequence of fuel subsidy removal, Bamidele said the government was not unmindful of its impact on Nigerians.

He explained that the government took the decision in the best interest of Nigerians because Nigerians were not really benefiting from the fuel subsidy regime.

He said, “We are convinced subsidy removal is a right decision taken because no other person than a cabal in the oil and gas industry and their promoters in the government were benefitting from the fuel subsidy regime.

“This administration did the right thing by putting an end to the fuel subsidy regime. Part of what we have seen after the fuel subsidy removal was a fight back from those who were the beneficiaries of the fuel subsidy regime.

“They are doing everything possible to make sure the pump price of premium motor spirit goes up because we are more of a consumer economy. We do not produce. A lot of things we are consuming in Nigeria are imported.

“What this means is that if naira is devalued either consciously against the dollars or commodities imported to Nigeria, we have to spend more to bring these things. The supplier will have to sell them at a higher rate. This trend is making commodity prices go out of the reach of the Nigerians.

“People’s income has not increased. Yet, they have to pay double for a bag of rice today compared to what they paid one or two years ago. This is extremely painful for all Nigerians. How many Nigerians can afford a bag of rice today without a corresponding increase in their income?

“Nigerians are working so hard. But the prices are rising out of their purchasing powers. These are some of the immediate effects of very drastic economic decisions taken by the Federal Government. But its long term effect will, by God’s grace, stabilise the economy.”